The IT & Software Sector in Lebanon – Today
The information technology sector in Lebanon is forecasted to witness around 7% compound annual growth rate in 2009, thereby underlining the market’s considerable growth potential after hitting an estimated US$251 million last year.
The steady increase in DSL users in Lebanon is also indicative of an imminent expansion of the domestic PC market. In response to this, there is a need to meet the growing IT requirements of the market through its pool of Lebanon-based channel partners, and portfolio of leading IT vendors such as Adobe, Borcade, Huawei-Symantec, Intel, Microsoft, Symantec, Citrix, Kingston, Business Object, McAfee, Novell, Quantum, Neverfail, Nexans, Wyse, Cheetah Networks, CA, Alcatel-Lucent and Juniper.
An estimated 100,000 computer units have been sold in Lebanon in 2008, (Population of 4M) and looking at the activities within Lebanon’s IT sector, we are positive that this market has a considerable potential for growth, and therefore has a rapidly expanding need for more sophisticated hardware and applications designed for specific industries.
The Lebanese government recently signed a $65 million contract with the Indian trust Tata to install the first fiber-optic cable in the country – expected in June 2010.
The Information and Communication Technologies sector in Lebanon is still witnessing sustained growth of 12 to 13 percent year on year. But compared to global figures, this growth should reach an average of 30 percent.
Filed under: Lebanese Startups, Strictly Lebanese | 2 Comments
Tags: 2009, Adobe, Alcatel-Lucent, Borcade, Business Object, CA, cable, Cheetah Networks, Citrix, dsl, fiber-optic, Huawei-Symantec, Intel, IT's Market direction, Juniper, Kingston, Lebanon, McAfee, Microsoft, Neverfail, Nexans, Novell, Online Services, Quantum, RIA, SaaS, Software, Symantec, Wyse