Lebanon’s IT market to grow at 10 percent

The investments going towards Internet of Things (IoT) is supporting the growth of Lebanon’s IT market. According to BMI Research shows Lebanon’s IT market will grow at 10 percent CAGR to LBP 820 billion in 2019. 

Lebanon’s nationwide digital transformation, guided by the Lebanon 2020 Digital Telecom Vision, which is seeing USD 600 million invested in fixed and 5G mobile broadband, is laying the foundation for the Internet of Things era.

By connecting people, objects, and devices to the cloud and networks, Lebanon’s organizations can analyze data in real-time for new business insights. Energy, agriculture, and healthcare are the three industry verticals that have tremendous potential to transform Lebanon’s economy, society, and environment, argues global digital transformation enabler SAP.

“Lebanon has the opportunity to adopt the Internet of Things era as the next Industrial Revolution, with an inter-connected, smart, and communicating world that will transform organizations and daily lives,” said Sameer Areff, Chief Operating Officer at SAP Middle East South, on the sidelines of his keynote “Future of the Internet of Things”. “Smart solar grids can power Lebanon’s energy future, connected farms can help growers to predict crop yields, customer demand, and sign smart leasing contracts, and digital patient records can personalize and enhance patient treatment.”

 

Comments

Comments