Economy, Sci & Tech

Iran’s 2020 ICT Target: $30b

Iran’s 2020 ICT Target: $30bIran’s 2020 ICT Target: $30b

The second meeting of investment firms with local technology firm Afranet was recently held at a business forum in the capital Tehran.

In the meeting held with senior managers of domestic investment firms, Afranet’s CEO Fereydoon Qasemzadeh talked about new opportunities created after Iran’s nuclear deal and competitive advantages.

The technology professional introduced Iran as a hotbed of opportunities for foreign investment firms who are prepared to transfer know-how and technology with the aim of accessing the 400-million market of the region, TechRasa reported.

“Iran occupies the top place in terms of the number of Internet users in the Middle East,” he said.

Qasemzadeh added that international bandwidth increased to more than eight times over the past three years.

"Nearly 10 million people are online via 3G mobile broadband and 4G/LTE, [in addition to] more than 10 million via ADSL and WiMAX. And there are over 40 million smartphones in the market," he said. According to a Frost & Sullivan report, Iran’s ICT market could be worth $21 billion by 2016 and reach $30 billion in 2020.

 Afranet has achieved much success in the past few years. For instance, the company entered the OTC (over-the-counter market) as the first private company in the ICT sector and launched Afranet data center and cloud service.