South Africa ICT Market Analysis and Forecast, 2019-2028

Introduction

The Information and Communications Technology (ICT) market refers to the products and services used to enable communication and the transfer of information and data. The South Africa ICT market is a rapidly growing market, driven by the increasing demand for ICT solutions across the country. The South Africa ICT market is expected to grow significantly in the coming years, driven by the increasing demand for ICT solutions across the country and the increasing adoption of technology.

Companies operating in the market are focusing on expanding their product offerings, improving their technology and analytics capabilities, and increasing their presence in the market to increase their market share. The government and private sectors are the significant end-users of ICT solutions in the country, and the BFSI and healthcare sectors are expected to be growing end-users of ICT solutions in the country. The increasing demand for convenient and accessible ICT services and the increasing adoption of technology are expected to drive the growth of the market in the coming years.

Market Size

The South Africa ICT market is expected to grow at a CAGR of 5% from 2023 to 2028, driven by the increasing demand for ICT solutions in the country. The market is expected to reach US$ 20 billion by 2028, driven by the increasing adoption of ICT solutions in the country and the increasing demand for convenient and accessible ICT services.

Market Segmentation

The South Africa ICT market can be segmented based on the product, application, and end-user. Based on the product, the market can be segmented into hardware, software, and services. Based on the application, the market can be segmented into communication, IT, and entertainment. Based on the end-user, the market can be segmented into government, BFSI, healthcare, and others.

Regional Analysis

The South Africa ICT market is a growing market, driven by the increasing demand for ICT solutions in country and the increasing adoption of technology in the country. The government and private sectors are the significant end-users of ICT solutions in the country, and the BFSI and healthcare sectors are expected to be growing end-users of ICT solutions in the country.

Competitive Landscape

The South Africa ICT market is highly competitive, with a large number of players operating in the market. Key players in the market include MTN, Vodacom, Telkom, and others. These players are focusing on expanding their product offerings, improving their technology and analytics capabilities, and increasing their presence in the market to increase their market share.

Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

Primary Intelligence

• RationalStat utilizes surveys, questionnaires, focus groups, and one-to-one interviews with CXOs, industry partners, trade bodies, association members, ex-employees, and industry professionals to collect insights and quantitative/qualitative data specific to client needs. RationalStat quickly gets to the ‘why’ behind the ‘what’ demonstrated by secondary data.
• RationalStat takes a unique approach to arrive at market conclusions and actionable insights for clients.
• We have the technology and strong in-house resource pool with extensive experience in the global and regional markets, across a wide variety of categories and stakeholders.
• Strong language proficiency and capability with coverage across more than 70 language areas.

Secondary Sources

• Annual reports, company filings, investor presentations, product catalogs, and company documents
• Industry and market-related documents available in the public domain
• Paid databases including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
• Whitepapers, research papers, and industry blogs.