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Saudi Arabia
The Saudi Arabia ICT sector is on the rise. The Kingdom of Saudi Arabia is one of the largest potential markets in the Middle East and Africa region for ICT Products and services. The ICT market in the region is still growing and happens to grow in the near future. In the today’s world, the growth sector happens to be the hardware infrastructure but the next round of development would be IT services, software and digital media. The KSA utmost priority s ICT development on the national budget agenda and the government also has ambitious plans for the ICT policies to drive its growth. In addition to it, there are number of small enterprises which will continue to grow which are driving the adoption of ICT services. With a growing population of global enterprises, Saudi Arabia happens to be the largest information and Communications Technology market as far as Middle East is concerned. Saudi telecommunications and information technology industries represent over 55 percent and 51 percent of the total Middle East market. As per the world’s advancements ICT markets are maturing, the Saudi Arabian market remains under developed by the global standards and remains on a rapid growth spree.
Saudi Arabia is relying on a significant ICT investment program that will make the Kingdom a regional technology powerhouse in the future. Saudi Arabia’s digital transformation continues to show that Kingdom ‘s ICT spending grew 6 percent in 2017 to over USD 36 billion and it is going to expand in the near future reaching a value of USD 40 billion. This growth is led by Government, Telecom, Finance and oil/Gas sectors. Like all other sectors of the economy, growth and development of the KSA’s ICT Industry is influenced by the Government‘s vision 2030 strategy and there comes the need of diversification and modernization. ICT is not the only sector but it acts as an important sector to transform through the adoption of digital technologies such as AI, robotics, cloud, IOT and e-commerce. In the region of KSA , the old ICT segments such as hardware, mobile phones, telecom will see a downfall and there will be an up fall of third party platform which will see a win situation. There will be rapid changes in the old segment with the rise in newer technologies. Modernization is the light of the day where aggressive IT projects are undertaken by the Saudi Arabian government to increase the competition, service levels usage. There are lot of industries which show significant signs of rapid growth which is driven by multinationals and local companies in the region. The size of the Saudi Arabian ICT market provides excellent operational facilities due to the presence of the technology hub which is catering to the Arabic speakers. The society is young and growing rapidly and more oriented towards technology.
Rising personal income, wealth and growing number of experts towards achieving leadership in information technology are the key drivers for the growth of ICT market in Saudi Arabia. Saudi Arabia has a plan of twenty year for ICT that will support technology and telecommunications adoption across households and enterprises. The government is trying to attract huge public investments across different sectors which can create investment opportunities in the private sector.
Growth Drivers
Challenges
Opportunities
Restraints
The report analyses and includes complete detailed chapter of 50-70 pages about the short term & long terms impact of COVID-19 outbreak on each segment of "Saudi Arabia ICT Industry" along with government measures to support the sector. It also showcases the current market landscape during COVID, impact of the virus on leading companies, expected demand schedule and supply chain in the industry and other various major factors. This will help you identify those companies that may benefit from this pandemic as well as those that will lose out.
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