Kenya ICT Market is projected to grow at a CAGR 6.5% till 2031. Kenya information and communication technology market has observed substantial growth, owing to the numerous government initiatives along with the rapid technological advancements. The robust growth of Kenya’s digital economy also contributes to further propel the growth of this market.
Major Kenya Information and Communication Technology (ICT) Market Drivers
Kenya serves as the ICT hub in East Africa, as the country taking the lead in the development of ICT infrastructure, FinTech services, broadband connectivity, among others. With its tech-driven services, the ICT sector comprises 7% of Kenya’s GDP. The government has also deployed several initiatives that can foster the growth of technology sectors. Digital Masterplan has been launched for ten-year period from 2022 to 2032 to adapt to global technological enhancements and aiming to elevate digital economy in Kenya. There are four main pillars in the digital masterplan, which includes digital skills, digital infrastructure, digital innovation for entrepreneurship, and digital services and data management.
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The government has allocated USD123 million in support for ICT initiatives, including USD 5.26 million for integrated government services, USD 22.9 million for connectivity network, USD 2.6 million for the digital education program, among other initiatives.
With its National Broadband Strategy, Kenya aims to transform into knowledge-driven economy by ensuring the availability of excellent broadband services to every individual across the country.
In the last ten years, the extensive reach of 3G and 4G LTE has driven robust double-digit expansion in Kenya’s telecommunications sector. However, 5G networks are anticipated to develop at a slow pace because of the high infrastructure costs and constrained consumer usage.
Approximately 70% share of the IT market in Kenya is dominated by computer hardware, while software solutions are estimated to see a rising demand across various industries. Meanwhile, cloud computing will be the most rapidly developing sector owing to the large investments it has generated, including the continued investment by US tech firms in the country’s data centers. Upgraded broadband infrastructure along with compelling value offerings for cloud-based services in Kenya will further drive the growth of cloud computing market.
Kenya has numerous opportunities to further grow the information and communication technology market. In the education sector, there is a rising implementation of digital technology in the learning process. The government has launched The Digital Literacy Program which will cover more than 24,000 primary schools and is aimed at students attending primary public schools in the country. In the healthcare sector, IT has been implemented in telemedicine and Information for Citizens. Following the Covid pandemic, the government seeks for more innovative solutions not only in the health sector, but also in the economy, security, food, and other essential sectors.
However, a new policy that requires foreign companies to have a 30% shareholding held by local entities along with high cost to purchase and maintain technological equipment can further hamper investment and development in this market.
Segments covered in the Report:
The Kenya Information and Communication Technology (ICT) Market has been segmented on the basis of Product Type and Application. Based on the Product Type, the market is segmented into Hardware, Software, Cloud Computing, Others. Based on the Application, the market is segmented into Education Sector, Cybersecurity, Health IT, Others.
Report Coverage |
Details |
Market Revenues (2023) |
USD Million |
Market Base Year |
2023 |
Market Forecast Period |
2024-2031 |
Base Year & Forecast Units |
Revenues (USD Million) |
Market Segment | By Product Type, By Application |
Regional Coverage | Kenya |
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Market Segmentation
Kenya Information and Communication Technology Market by Product Type
-
- Hardware
- Software
- Cloud Computing
- Others
Kenya Information and Communication Technology Market by Application
-
- Education Sector
- Cybersecurity
- Health IT
- Others
Related Reports
- Published Date: Jul-2024
- Report Format: Excel/PPT
- Report Code: GR24AB-01-00204
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Kenya Information and Communication Technology (ICT) Market – Opportunities and Forecast 2024-2031
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