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Spending on ICT in Saudi Arabia to reach $32.9bn this year, IDC predicts

Spending on ICT in Saudi Arabia to reach $32.9bn this year, IDC predicts
Spending on IT in the kingdom could reach $11.1 billion next year.

Riyadh – Mubasher: Overall spending on information and communications technology (ICT) in Saudi Arabia is set to reach $32.9 billion in 2020, according to the International Data Corporation (IDC).

The IDC last week hosted the region's most influential ICT industry figures online for the virtual edition of IDC Directions Middle East, Turkey & Africa.

IDC’s regional director for Saudi Arabia and Bahrain, Hamza Naqshbandi, revealed that spending on IT in the kingdom will reach $11.1 billion next year, with services and devices accounting form more than half of the market, according to a press release on Wednesday.

IT spending in the country, including mobile devices, storage, hardware, systems, and software will grow by 4.2% yearly, with the government, finance, and communications sectors to spend over $3.6 billion on IT in 2021.

Naqshbandi continued, "Saudi Arabia's vision for a smart economy relies heavily on digital transformation initiatives, an area the government has always focused on and heavily invested in long before COVID-19. The ongoing pandemic has validated the country’s strategic direction, acting as a catalyst to spur the adoption of emerging technologies."

During the online event, expert speakers discussed the latest trends in cloud, artificial intelligence (AI), cybersecurity, the Internet of Things (IoT), and intelligent automation, among other fields.