The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: Kuwait has a large and lucrative hardware market where retail spending on PCs has been
strong over the past decade, but, as a result of a weaker economic outlook and PC market saturation,
demand is expected to be flat over the medium term. The hardware segment will still be lucrative for
vendors, but in terms of growth it is software and services that will take centre stage as there is upside from
the lower oil price acting as a catalyst for diversification and investments in cost-saving and flexibilityenhancing
IT solutions. We forecast total IT spending will increase at a CAGR of 2.5% over 2016-2020 to
KWD359.1mn in 2020.
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? Hardware: from KWD157.9mn in 2016 to KWD161.2mn in 2020, a compound annual growth rate
(CAGR) of 0.5%. PC market saturation and competition from smartphones for tablet sales means the
segment is forecast to be virtually flat over the medium term.
? Software: from KWD58.7mn in 2016 to KWD66.3mn in 2020, at a CAGR of 3.1%. The market is small
due to oil dominating Kuwait's economy, but pressure to modernise and diversify should create new
opportunities across several verticals.
? Services: from KWD108.3mn in 2016 to KWD131.6mn in 2020, at a CAGR of 5.0%. Cloud computing
adoption a broad support, while the 'smart mining' trend should be a boost for services spending by the
largest vertical in the Kuwaiti economy.