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IT Market in Saudi Arabia 2019-2023 | Increasing Demand for E-governance to Boost Market Growth | Technavio

November 21, 2019
IT Market in Saudi Arabia 2019-2023 | Increasing Demand for E-governance to Boost Market Growth | Technavio
IT Market in Saudi Arabia 2019-2023 | Increasing Demand for E-governance to Boost Market Growth | Technavio

LONDON--(BUSINESS WIRE)--Nov 21, 2019--

The IT market in Saudi Arabia is expected to post a CAGR close to 9% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled IT market in Saudi Arabia 2019-2023 (Graphic: Business Wire)

The growing application of IT in Saudi Arabia can be contributed to the government’s intention to digitally enable all sectors of the economy such as manufacturing, government, healthcare, and BFSI under the development program, NTP, which is a Vision 2030 program. This transformation plan focuses on economic development and infrastructure development. It includes plans to diversify the economy and create new job opportunities. The execution of NTP will advance digital transformation (DX) in all sectors of the economy. It underlines DX initiatives such as improvement of the reach and quality of broadband connectivity in Saudi Arabia, and integration of IT infrastructure of the government sector for new e-services. This initiative will also help in the integration of government data into an enhanced Saudi e-Portal gateway, modernization of business environment and the economy, and augment the payment systems and channels. Thus, the launch of NTP will have a significant impact on the IT market growth in Saudi Arabia.

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As per Technavio, the increasing demand for e-governance will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

IT Market in Saudi Arabia: Increasing Demand for E-Governance

The government of Saudi Arabia has increased the possibility of online services over the last decade, under its Vision 2030 program. The country has introduced e-Government online services such as employment programs, e-learning services, online job searches, passports and civil affairs, traffic updates and control, online issuance of commercial registers, and online payment services. The primary aim of Vision 2030 is to provide better quality government delivered services by streamlining processes and diversifying communication channels. Vision 2030 also supports the increased use of online applications in government sector agencies such as cloud applications, data sharing platforms, and HR management systems. The Saudi Arabian government intends to reinforce online services within the government. The country will also see an increased use of cloud computing in other areas as well.

“Emerging technologies, change in economic structure, use of IT in the creation of “NEOM”, and booming of e-commerce sector are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.

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IT Market in Saudi Arabia: Segmentation Analysis

This market report segments the IT market in Saudi Arabia by end-user (government, telecommunications, BFSI, oil & gas, and others), and component (hardware, services, and software).

The hardware component led the IT market share in Saudi Arabia in 2018, followed by services, and software segment. The country is in the process of developing its IT infrastructure, which would require investments in network, storage, and server hardware by companies in various sectors. In addition, the adoption of enterprise mobility is also increasing in Saudi Arabian enterprises, which is expected to drive the demand for IT solutions in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 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 market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191121005584/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:media@technavio.com

Website:https://www.technavio.com/

KEYWORD: MIDDLE EAST SAUDI ARABIA

INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY HARDWARE DATA MANAGEMENT

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 11/21/2019 12:30 PM/DISC: 11/21/2019 12:30 PM

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