NEW YORK, Feb. 1, 2024 /PRNewswire/ — The IT market in Saudi Arabia size is estimated to grow by USD 5.44 billion from 2022 to 2027 at a CAGR of 7.48% according to Technavio. The Saudi Arabian IT market is experiencing significant growth driven by the booming e-commerce sector and government initiatives such as the National Transformation Program (NTP) and Vision 2030, aiming to diversify the economy and create new job opportunities. “The adoption of e-governance is a prominent trend, with Saudi Arabia ranked 9th in the UN E-Government Development Index in 2020. Vision 2030 supports the expansion of online services and the use of cloud applications and data-sharing platforms, indicating a shift towards digitalization across various sectors,” says a senior analyst of Technavio. Drivers, & Challenges have an impact on dynamics and can impact businesses. Find some insights from a free sample report!
IT Market In Saudi Arabia Insights –
- Vendors: 15+, Including Accenture Plc, Al Moammar Information Systems Co., Alphabet Inc., Amazon.com Inc., AT and T Inc., Cisco Systems Inc., Cognizant Technology Solutions Corp., Comprehensive Technology Co., DataFlow Group, Easy World Automation LLC, Ejada Systems Ltd., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., International Business Machines Corp., IQVIA Holdings Inc., Microsoft Corp., NEC Corp., Oracle Corp., SAP SE, SAS Institute Inc., among others
- Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
- Segments: Component (Hardware, Services, and Software), End-user (Government, Telecommunication, BFSI, Oil and gas, and Others), and Geography (Middle East and Africa)
To understand more about the IT Market In Saudi Arabia, request a Free sample report
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market’s competitive landscape and offers information on several market vendors.
- The absence of legal frameworks hindering the growth of the IT market hampers growth during the forecast period.
What are the key data covered in this IT Market In Saudi Arabia report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the IT Market In Saudi Arabia between 2023 and 2027
- Precise estimation of the IT Market In Saudi Arabia size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the IT industry across Saudi Arabia
- A thorough analysis of the competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of IT Market In Saudi Arabia vendors
Technavio’s SUBSCRIPTION platform
Applications include:
The IT market in Saudi Arabia is witnessing significant growth, driven by digital transformation initiatives across various sectors. Key components include cloud computing, cybersecurity, data centers, IoT, AI, and big data analytics. The telecom sector plays a pivotal role, alongside advancements in mobile technology and e-commerce. The market also sees notable activity in digital payments, IT services like SaaS and ERP, and emerging technologies like blockchain. IT education and training, regulations, investments, and support for startups underscore the country’s commitment to IT development and innovation.
Related Reports:
The Oman – Information Technology (IT) Market size is estimated to grow at a CAGR of 9.91% between 2023 and 2028. The market size is forecast to increase by USD 3.20 billion.
The Saudi Arabia healthcare IT market size is estimated to grow by USD 1,603.18 million at a CAGR of 9.06% between 2022 and 2027.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Component
Market Segmentation by End-user
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential markets and assess their competitive positions within changing scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
