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Press Release

Feb, 12 2024

Revolutionizing Business Dynamics: IT Services Market Thrives on Innovative Mobile App Development Solutions

In the dynamic landscape of the IT services market, mobile app development addresses the escalating demand for innovative mobile solutions. This segment thrives on features such as agility, scalability, and cross-platform compatibility, allowing businesses to adapt swiftly to evolving technological trends. With a focus on user-centric designs and seamless functionality, mobile app development services contribute to enhancing customer engagement and operational efficiency.

Access Full Report @ https://www.databridgemarketresearch.com/reports/iraq-it-services-market

Data Bridge Market Research analyses the Iraq IT Services Market, which was USD 18.92 million in 2021, is expected to reach the value of USD 40.28 million by 2029, at a CAGR of 9.9% during the forecast period of 2022-2029. In Iraq, government initiatives to modernize and digitize public services are instrumental drivers for the IT services market. The strategic investments in e-government solutions, digital infrastructure, and robust cybersecurity measures enhance administrative efficiency and propel demand for IT services as the nation embraces a technology-driven approach to governance and public service delivery.

Key Findings of the Study

Iraq IT Services Market

Increasing internet penetration in Iraq is expected to drive the market's growth rate

The increasing internet penetration in Iraq serves as a pivotal driver for the IT services market. As more businesses and individuals embrace online platforms, the demand for connectivity solutions surges. IT services play a crucial role in facilitating seamless connectivity, managing data effectively, and ensuring robust cybersecurity measures. Businesses, recognizing the significance of a digital presence, are expected to invest in IT services to enhance their online operations. This trend fosters economic growth and underscores the need for advanced technological solutions, positioning IT service providers as essential partners in Iraq's evolving digital landscape.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014-2019)

Quantitative Units

Revenue in USD Million, Pricing in USD, Volume in units

Segments Covered

System (Smart System, Security System, and Control and Automation), Type (Professional Services, and Managed Services), Organization Size (Large Enterprises, and Small and Medium Enterprises), End User (Commercial, Industrial, Residential, Government, and Others)

Market Players Covered

Intercom Enterprises (Egypt), TECO Middle. East (Saudi Arabia), Advanced Micro Technologies Co. (California), Emirates Dawn. (U.A.E.), AL Sadara (U.A.E), Energy Pillars (U.A.E.), Mobi EGYPT (Egypt), Industrial Dimensions Contracting Co. (Saudi Arabia), EMergy Consultancy (U.A.E.), BITS secure IT infrastructure. (U.S.), Guqa IT Team (Saudi Arabia), Zegtech Inc. (India), BTC NETWORKS (Saudi Arabia), Skies ltd. (U.K.), ADS (U.K.), among others

Data Points Covered in the Report

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Segment Analysis:

The Iraq IT services market is segmented on the basis of system, type, organization size, and end user.

  • On the basis of system, the Iraq IT services market is segmented into smart system, security system, and control and automation
  • On the basis of type, the Iraq IT services market is segmented into managed services and professional services
  • On the basis of organization size, the Iraq IT services market is segmented into large enterprises and small and medium sized enterprises (SMES)
  • On the basis of end user, the Iraq IT services market is segmented into commercial, industrial, residential, government, and others

Major Players

Data Bridge Market Research recognizes the following companies as the major Iraq IT services market players in Iraq IT services market are Intercom Enterprises (Egypt), TECO Middle. East (Saudi Arabia) Advanced Micro Technologies Co. (California), Emirates Dawn. (U.A.E.), AL Sadara (U.A.E), Energy Pillars (U.A.E.), Mobi EGYPT (Egypt), Industrial Dimensions Contracting Co. (Saudi Arabia)

Iraq IT Services Market

Market Developments

  • In November 2022, Amazon Web Services (AWS) marked a significant stride in the global technology landscape by launching its second AWS infrastructure region in India - the AWS Asia Pacific (Hyderabad) Region. This strategic move reflects AWS's commitment to expanding its footprint and holds potential implications for the IT services market. The establishment of a robust AWS infrastructure in the Asia Pacific region can indirectly impact neighboring countries, including Iraq, fostering a more interconnected and technologically advanced environment. With a projected investment exceeding US$ 4.4 billion and an expected annual support for over 48,000 jobs by 2030, the initiative showcases the transformative power of cloud computing, potentially influencing Iraq's IT sector with new paradigms of scalability and innovation
  • In November 2022, ICICI Bank launched two innovative financial products tailored for its Non-Resident Indian (NRI) clients. The Loan against Deposits (LAD) and Dollar Bonds are aimed at providing diverse financial solutions at the branch located in GIFT City. While these developments may not have a direct impact on the Iraq IT Services Market, they underscore the broader trends in the financial technology sector. As global financial institutions introduce specialized products, there is a potential ripple effect on international markets, including Iraq, fostering an environment where financial technologies and IT services intersect. The innovations introduced by ICICI Bank showcase the ongoing global evolution of financial services and the interconnected nature of technology-driven solutions in the contemporary business landscape
  • In August 2022, Torch.AI, a leading player in data infrastructure AI, made a groundbreaking announcement regarding its collaboration with the U.S. Department of Defense (DOD). The DOD selected Torch.AI's cutting-edge software to power a revolutionary cyber and insider threat analysis capability named the System for Insider Threat Hindrance (SITH). This innovative system is designed to significantly enhance the quality and availability of information crucial for detecting threats. By seamlessly integrating disparate and complex government and commercial datasets, Torch.AI's technology, backed by advanced machine learning, automates key tasks to bolster the nation's cybersecurity infrastructure
  • In June 2022, Energy Pillars marked a significant milestone by completing project ITT No. 2107-717, focusing on electrical upgradation works for facilities at Mina Zayed port. This successful project positions Energy Pillars as a key player in the market and serves as a catalyst for attracting new customers. The upgraded electrical infrastructure is expected to enhance operational efficiency, ultimately elevating the company's brand value in the industry
  • In February 2022, global technology giant Cisco revealed its ambitious plans to launch private 5G networks for enterprises. Collaborating with leading ORAN (Open Radio Access Network) vendors, Cisco aims to fulfill the promise of private 5G, mitigating technical, financial, and operational risks for enterprise customers. Cisco has closely partnered with two prominent ORAN vendors, incorporating ORAN technology into its Cisco Private 5G initiative. Currently undergoing customer trials with Airspan and JMA, this strategic move underscores Cisco's commitment to advancing connectivity solutions and shaping the future of enterprise networks

For more detailed information about the Iraq IT services market report, click here – https://www.databridgemarketresearch.com/reports/iraq-it-services-market


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