Silicon Graphics eyes GCC's booming IT market for aggressive growth plans
Silicon Graphics (SGI) expects the IT market in the Gulf Cooperation Council (GCC) region to contribute significantly to its global turnover.The company's forecast is based on recent findings of the Dubai-based Madar Research Group, which point to an increased IT expenditure across the Arab world.
The company, which recently launched a new Linux-based system that works on the Intel Itanium 2 and Altix 3000 family of servers and super-clusters, in the Middle East, is particularly upbeat due to the demand for its products in the oil and gas sector.
According to the Madar study, the IT market is expected to grow at a compound average of nearly 10 percent over the next three years, surpassing the economic growth rate of GCC countries. By the year 2005, the GCC region's total annual IT market will be worth about eight billion dollars. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
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