Fitch Solutions: Egypt’s IT Market to Reach $9.2 Billion by 2031

Fitch Solutions forecasts that Egypt’s information technology market will expand from $3.5 billion in 2025 to $9.2 billion by 2031, reflecting a nearly threefold growth over six years. The report attributes this rapid rise to improving macroeconomic conditions, a sustained push for digital infrastructure, and easing economic pressures that previously hindered growth.

Growth is expected to be driven primarily by the software and IT services sectors, including cloud computing, enterprise solutions, and managed services. These services are gaining traction amid increasing demand from both government-led projects and private-sector digital transformation initiatives. Notably, major urban development efforts such as the New Administrative Capital and city-scale "mega projects" are cited as key catalyst demand drivers for smart infrastructure requiring sophisticated IT solutions.

Supporting this expansion is an anticipated average annual GDP growth of 4.3% from 2025 to 2029, which underpins broader increases in digital spending and business modernisation efforts. The government’s fiscal commitment includes EGP 13 billion (approximately $256 million) designated this year for enhancing mobile connectivity (including 40,000 new towers), expanding digital government services, improving cybersecurity, and training over 600,000 IT professionals to meet growing market demands.