+965 22209606
(Sunday to Thursday)
13th Floor, Awtad Tower
Fahad Al-Salem, Kuwait
+965 22209606
(Sunday to Thursday)
13th Floor, Awtad Tower
Fahad Al-Salem, Kuwait
According to Fitch Solutions, The Kuwaiti IT market is set to post a rebound in 2021, after severe weaknesses caused by the Covid-19 pandemic. The situation led to a severe oil price collapse and the poor business environment that weighed on government investments, enterprise sentiment and household spending levels. Looking ahead, it is expected that the economy will recover in 2021, as pent-up demand is unlocked across all segments.
The biggest opportunities are concentrated in software and services across many sectors. Furthermore, the growing adoption of connected and IoT devices in the region are significant factors that are likely to boost the adoption of IT solutions in Kuwait in the forthcoming years.
Additionally, the rising adoption of fintech solutions in Kuwait is another major factor that will aid the growth of IT in the country. Major Kuwaiti banks such as Al Ahli Bank of Kuwait and Burgan Bank are focusing on tech-based solutions, such as wallet solutions and digital payment applications.
However, it is apparent that Kuwait’s IT market is small and lacks the sophistication of most developed economies because of an oil-centric economy. Looking ahead, the biggest opportunities are concentrated in software and services where enterprise modernization is critical.
Over the last 5 years Kuwait has made great strides in the digital economy and is speeding up the evolution towards a diversified knowledge-based economy. State funding is being used to create an ecosystem that will help start-ups develop, while larger firms and state agencies work to boost efficiency and productivity through a growing range of solutions that streamline processes and allow real-time analysis of consumer behaviour.
If the country’s growing number of youth are to have rewarding careers, many of them will need to look beyond the public sector. In the next five years the IMF predicts that less than 25% of Kuwaitis joining the labour force will find government jobs. Alongside ambitious infrastructure improvements in transport and reforms to administration, housing and health care, New Kuwait identifies finance, renewable energy and IT as sectors that can help make Kuwait a centre for innovation, excellence and know-how. The state urges improving school curricula, investing in university research and educating young Kuwaitis about opportunities in the private sector.
ICT spending in Kuwait is estimated to grow at a compound annual growth rate (CAGR) of 10.2% between 2019 and 2024, reaching US$10.1bn by 2024.
Tech growth will be driven by the increasing adoption of advanced technologies including artificial intelligence (AI), big data, cloud computing and Internet of Things (IoT).
Enterprises in Kuwait are expected to continue their focus on acquiring high-end enterprise solutions and modernizing their existing IT infrastructure.
A recent survey conducted for CAIT predicted the ICT sector would require an additional 7000 professionals between 2020 and 2025, with the roles in greatest demand being for software and applications developers and managers.
International companies offering solutions for consumers and businesses see Kuwait as an important market. IBM opened an office in the country in 2015. Microsoft also has an office in Kuwait, where it offers services through 120 local partner companies.
The people of Kuwait are tech-savvy and eager to embrace change and innovation. But in order for Kuwaiti companies to plug the gap for local, qualified IT resources – including software architects, designers, developers, testers – they need to look outside the local market in order to achieve their technology goals.
The market for international outsourcing is mature and well-established throughout USA, UK and Europe, with many firms engaging with software development agencies to either speed up time to market; increase development capacity; develop new tech skills or increase overall quality.
Although the outsourcing market in Kuwait is vibrant in many sectors such as construction, energy and healthcare, the technology sector has been slow to embrace the depth of global technology talent.
UKuwait enables Kuwaiti firms to access the best technology talent from the UK & Europe, all managed from our local offices in the heart of Kuwait. We enable Kuwaiti firms – both public and private sector – to deliver their technology quicker and to an exceptionally high quality by experienced international partners.
We have over 30 established partner companies in Europe within our portfolio, all offering a diverse range of technology skills as well as a deep knowledge of different market sectors. These firms are from a range of countries, including: Croatia, Romania, Russia, Ukraine, Bulgaria, Austria, Czech Republic, Belarus, Macedonia, Albania and Hungary.
You will not need to do the due diligence, or the painstaking ‘beauty parade’ of potential partners, because we have done all of that for you. We know what each of our partners specialises in and which skills they can bring to address your challenges.
Based on specific inputs from you, we can allocate the right partner to dramatically improve your speed-to-market and reduce costly overheads, while increasing productivity and improving profitability. To find the right partner for our clients, we collect information from you such as:
– Technology stack
– Vendor affiliation
– Development environment
– Market sector
– Budget & timescales
– Commercial models
All of our partners are special and have all been through a thorough vetting and onboarding process.
Before any company joins our portfolio they must pass a rigorous selection process to identify the best-in-breed. This due diligence process will ensure we can confidently promote their services within the Kuwait region.
First we vet their physical premises and meet the owners/management. They will then need to go through a series of ‘hoops’ such as:
– Accreditations (Microsoft Gold Partner)
– Industry standards (CMM, ISO, etc)
– International commercial experience
– Deep domain expertise within 1-3 vertical markets
– Be able to show long term, referenceable clients
– Be financially stable
– Have robust and fair hiring processes in place to ensure scaleability
– Looking for long term stable relationships
– Have flexible commercial models
Once they can show these, we enter in to an exclusive relationship whereby we have the rights to represent them in the UK as business development partners.
Our partners specialise in delivering the following services to a range of industry sectors:
– Offshore team extension
– Bodyleasing
– Fixed price projects
– Mobile and web application development
– QA/testing
– Security & infrastructure management
– Data analytics
– System integration
– Start-ups/Proof of concepts
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