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IT Market in Saudi Arabia to Grow by USD 5.6 Billion (2025-2029), Driven by National Transformation Program Launch, with AI Driving Market Transformation - Technavio


NEW YORK, Feb. 10, 2025 /PRNewswire/ -- Report with the AI impact on market trends - The IT market in saudi arabia size is estimated to grow by USD 5.6 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  6.9%  during the forecast period. Launch of national transformation program is driving market growth, with a trend towards increasing adoption of e-governance. However, increasing threat of cyber crimes  poses a challenge. Key market players include Accenture PLC, Al Moammar Information Systems Co., 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., Google LLC, Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., International Business Machines Corp., IQVIA Holdings Inc., Microsoft Corp., NEC Corp., Oracle Corp., SAP SE, and SAS Institute Inc..

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IT Market In Saudi Arabia Scope

Report Coverage

Details

Base year

2024

Historic period

2019 - 2022

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 6.9%

Market growth 2025-2029

USD 5600.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.4

Regional analysis

Saudi Arabia

Performing market contribution

Middle East and Africa at 100%

Key countries

Saudi Arabia

Key companies profiled

Accenture PLC, Al Moammar Information Systems Co., 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., Google LLC, Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., International Business Machines Corp., IQVIA Holdings Inc., Microsoft Corp., NEC Corp., Oracle Corp., SAP SE, and SAS Institute Inc.

Market Driver

The Saudi Arabian IT market is experiencing significant growth due to the government's focus on digital transformation through the Vision 2030 program. In the 2020 UN E-Government Development Index, Saudi Arabia ranked 9th, reflecting progress in online services. The government offers various e-services, including employment programs, e-learning, online job searches, passports and civic affairs, traffic updates, commercial register issuance, and payment services. The Vision 2030 program aims to expand online services, introducing geographic information systems (GIS), healthcare, and education. The Saudi Arabian government is strengthening online services within the public sector, promoting cloud applications, data-sharing platforms, and HR management systems. Additionally, the increased use of cloud computing in various sectors is anticipated to fuel market growth during the forecast period. 

In Saudi Arabia's IT market, high-speed internet and smartphone penetration are on the rise. With the rollout of 5G networks, wireless connections are becoming faster and more reliable. Digital innovation is transforming industries such as Pharmacy and Healthcare with IoT technology. Industry 4.0 is gaining traction in sectors like Construction and Consumer Goods. Businesses are embracing digital-savvy solutions like Client Computing, Consulting, Integration Services, Data and Analytics, Edge Computing, IT Management, Mobility, Networking, Security, Servers, Storage, Communication, and Telecommunication. Oil and gas companies are leveraging data processing for real-time communication and e-governance. Hardware and Software providers are meeting the demands of businesses and consumers. The IT sector is also focusing on cybersecurity to protect against data theft. Overall, the IT market in Saudi Arabia is thriving with trends like AI, 5G, and cloud computing shaping the future. 

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Market Challenges

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Segment Overview 

This it market in Saudi Arabia report extensively covers market segmentation by  

1.1 Hardware-  The IT market in Saudi Arabia is thriving, with numerous businesses adopting digital solutions to enhance their operations. The kingdom's Vision 2030 initiative prioritizes digital transformation, creating ample opportunities for IT companies. The market size is expected to grow significantly due to increasing demand for cloud services, cybersecurity, and artificial intelligence. Saudi Arabian Monetary Authority's (SAMA) Fintech Program further boosts the sector, attracting international players. Businesses and government entities invest in IT infrastructure upgrades, ensuring a robust and expanding IT market.

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Research Analysis

The IT market in Saudi Arabia is thriving, driven by the growing demand for advanced technology solutions in various sectors. Hardware and computers are popular, with a focus on high-performance systems for businesses and fast, efficient devices for consumers. Software, including productivity suites and specialized applications, is in high demand, particularly in industries like healthcare and finance. The internet and mobile phones are essential for connectivity, with a push for fast internet and wireless connections. Telecommunications companies are expanding their networks, while data centers and cloud computing provide businesses with secure, reliable storage and processing solutions. Real-time communication and collaboration tools are crucial for remote work and virtual meetings. Cybersecurity is a major concern, with a growing focus on protecting sensitive data from theft. Industry 4.0 and the Internet of Things (IoT) are transforming industries, while 5G networks promise faster speeds and lower latency. Artificial Intelligence (AI) and edge computing are also gaining traction, offering new possibilities for data processing and analysis. Consulting and integration services help businesses navigate the complex IT landscape and make the most of these technologies. Data and analytics are essential for informed decision-making and improving operational efficiency. Servers and serversless computing provide the foundation for these solutions, ensuring seamless performance and scalability.

Market Research Overview

The IT market in Saudi Arabia is witnessing significant growth, driven by the demand for advanced technology solutions in various sectors. Hardware and software are key components of this market, with a focus on high-performance computers, mobile phones, and telecommunication infrastructure. The oil and gas industry is a major consumer of IT services, with a growing need for real-time communication, data processing, and cybersecurity. E-Governance is another significant area, with the Saudi Arabian government investing heavily in digital innovation to improve efficiency and citizen services. The healthcare and pharmacy sectors are also adopting digital technologies, including telemedicine, electronic health records, and IoT devices. The construction industry is embracing Industry 4.0 technologies, while consumer goods companies are leveraging mobility, data analytics, and edge computing for supply chain optimization. With the rollout of 5G networks, the market for high-speed internet, wireless connections, and cloud computing is expected to grow rapidly. Cybersecurity remains a top priority, as data theft and digital threats continue to pose challenges for businesses and individuals alike. AI and IT management services are also gaining popularity, as organizations seek to optimize their operations and enhance customer experiences.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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.

Contacts

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


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