(MENAFN Press) (EMAILWIRE.COM, November 17, 2012 ) Alpharetta, GA -- Today, the emerging markets of Saudi Arabia, South Africa, Poland, Turkey and Argentina are all also religious societies. According to a report by Gartner, by 2017, the IT industry in these countries are projected to create opportunities generating more than 40bn in software and service opportunities.
Analysts predict that in the next several years, IT run in religious countries will offer new avenues and unconventional opportunities for entrepreneurs and innovators.
Factors that may encourage more IT professionals to work with religious IT companies include the commercialisation of religion, the emergence of markets within highly religious countries, and the emergence of new business opportunities involving religion.
Analysts also state that these emerging markets will experience an increase in spending on religion due to economic development in the region, which is expected to lead to a gradual shift toward religion-driven IT. Some of these emerging markets include the highly religious countries of Saudi Arabia, South Africa, Poland, Turkey and Argentina.
Analysts state that religious influenced IT companies will become crucial test models for IT vendors to gain a larger foothold in these markets.
Asheesh Raina, a Gartner principal research analyst, stated religion has great impact on high-growth regions such as Latin America, Africa, the Arab world and Southeast Asia, thus encouraging new IT providers to seek opportunities with religious companies and industries.
As Raina noted, "Direct IT spending by religious groups is small compared with the influence of religion on the IT spending of other industries and enterprises. . . Religion-based banking, equity trading, mutual funds, financial services and so forth (including Islamic banking, takaful insurance and the Dharma Global Index) require new applications, products and heavy software customization, thus creating a role for religion domain experts."
Raina further described, "The number of people visiting religious places (such as temples and shrines during hajj and other religious pilgrimages/tours) is growing and hence increasing the need for religious bodies to attain automation through IT to provide safe, secure and faster religious services."
With a global economic slump and a declining number of opportunities in developed economies, IT companies are exploring new markets and opportunities leading to a shift in focus. Raina further added, "In the next four to five years, religion slowly but steadily will continue to drive and change the way IT is consumed today by generating a significant amount, and variety of, new IT opportunities and business models. . .A lack of standardization and non-availability of skilled resources in this space will require IT to play a critical role, albeit while treading carefully."
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