Kuwait ICT Market Size (2024 - 2029)

Kuwait ICT Market Analysis

The Kuwait ICT Market size is estimated at USD 24.69 billion in 2024, and is expected to reach USD 39.48 billion by 2029, growing at a CAGR of 9.84% during the forecast period (2024-2029).

The government's robust focus on digital transformation initiatives and increasing demand for innovative technologies across various sectors drive the Kuwait ICT market.

• Kuwait's telecommunication services are swiftly uplifting, with the five operational Internet Service Providers (ISPs), three mobile telephone operators, and many sub-ISPs and authorized providers covering the country. In recent years, there has been a trend of vertical integration with various telecom companies, acquiring Internet Service Providers (ISPs) to provide bundled mobile and Internet services to both business and consumer clients.
• Moreover, according to the International Trade Administration (ITA) previous year report, the telecom industry in Kuwait boasts a remarkable level of mobile accessibility, widespread WiFi availability, efficient fiber optic cabling, seamless satellite- connectivity, and an advanced network that offers internet/intranet services. Additionally, the country benefits from a fully functional and well-equipped base station, ensuring robust network optimization and service quality nationwide.
• Furthermore, government policies and PPP initiatives like the National Development Plan called 'New Kuwait" are expected to develop substantial IT and communication infrastructure to support the national development plan. The Communication and Information Technology Regulatory Authority (CITRA) in Kuwait is responsible for overseeing the ICT sector and monitoring and protecting the interests of users and service providers in the country while ensuring equality of opportunity, transparency, and fair competition.
• The country has been among the early adopters of the 5G network. The adoption of 5G technology has been vital to achieving the country's vision of 2035, as has the earmarking of human and financial resources to create a broader and deeper IT ecosystem. As of January 2023, Kuwait ranked seventh globally in Ookla's Speedtest Global Index for mobile performance, with a 109.93 Mbps median speed.
• Also, the ICT market in Kuwait is expected to be one of the emerging markets in the future. This means hardware, software, and other IT services will be needed-the increasing penetration of technology giants in the country to take advantage of privatization in Kuwait. However, because Kuwait needs more skilled workers to handle advanced IT and communication technology, the government will have to rely on outside sources to compensate for the skills gap. This is likely to slow the growth of the market in Kuwait.
• However, the country will have to rely on outside sources to compensate for the skills gap due to the need for more skilled workers to handle advanced IT and communication technology (ICT). This is likely to slow the growth of the market in Kuwait.

Kuwait ICT Industry Segmentation

Information and communication technologies, or ICT, are a broader term for information technology (IT). It refers to all communication technologies, such as wireless networks, the internet, computers, cell phones, software, videoconferencing, middleware, social networking, and other media applications and services that enable users to store, access, transmit, retrieve, and manipulate information in a digital form.

Kuwait's ICT market is segmented by technology (big data analytics, mobility, cloud computing, storage, business process outsourcing), component (hardware, devices, software, and services), and end-user industry (oil, gas, and utilities, transportation and logistics, healthcare, financial services, manufacturing, and construction).

The market sizes and forecasts are provided in terms of value (in USD) for all the above segments.