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Saudi Arabia IT Services Market Forecast, 2023–2028

Publisher IDC
Published Sep 30, 2024
Length 22 Pages
SKU # IDC19213316

Description

Saudi Arabia IT Services Market Forecast, 2023–2028


This IDC Market Forecast presents a comprehensive analysis of Saudi Arabia's IT services market for the 2023–2028 period, exploring the market's key dynamics, opportunities, and challenges. It also provides a detailed analysis of spending across various IT service categories, emphasizing the public sector's role and the impact of strategic shifts toward a diversified economy and technological integration. IT service providers are encouraged to adapt to the competitive landscape, invest in innovation, and develop strategies that align with the kingdom's digital transformation goals. By doing so, they can capitalize on the growing demand for IT services and contribute to the realization of Vision 2030."The Saudi IT services market demands a multifaceted approach to drive success. By fostering innovation, building strong partnerships, investing in talent development, and prioritizing cybersecurity, companies can position themselves as leaders in this dynamic and ever-evolving landscape. The future of the Saudi IT services market looks promising, but success requires a proactive and strategic approach. Those providers that can successfully navigate the challenges and capitalize on the opportunities will be well positioned to drive innovation, create value, and contribute to the kingdom's economic growth." — Mufasir Yousuf, research manager, IDC

Table of Contents

22 Pages

IDC Market Forecast Figure

Executive Summary

Advice for Technology Suppliers

The Imperative of Data and AI Services in the Saudi IT Market

Adapting to a Competitive Landscape

The Importance of Innovation and Co-Creation Hubs

A Balancing Act: The Changing Needs of Large Enterprises and an Untapped SME Market

Market Forecast

IDC Analysis of the Support Services Primary Market

IDC Analysis of the Project Services Primary Market

IDC Analysis of the Managed Services Primary Market

Overview of Saudi Arabia IT Services Spending by Vertical Market

Public Sector

Infrastructure and Energy

Financial Services

Market Context

Drivers and Inhibitors

Drivers

Inhibitors

Significant Market Developments

Economic Momentum and Market Drivers

Technology Investments and National Strategies

Giga Projects Paving the Way for IT Services Demand

The Impact of Oil Prices and Regional Dynamics

Changes from Prior Forecast

Market Definition

IDC's Services Markets Overview Map

Methodology

Research Sources

Revenue Recognition

Notes on Forecasting

Notes on the Exchange Rates Used in the Report

Related Research

Pricing

Currency Rates
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