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Saudi IT spending set to exceed 11 bln in 2021 Wednesday 27 January 2021 | 10:45 CET | News Overall spending on ICT in Saudi Arabia is set to reach USD 32.9 billion in 2021, up 1.5 percent on 2020, according to International Data Corporation (IDC). Regional director for Saudi Arabia and Bahrain Hamza Naqshbandi said that spending on IT will reach USD 11.1 billion in 2021, with services and devices accounting for more than half of the market. He said that IT spending in the country, including mobile devices, storage, hardware, systems and software, will grow 4.2 percent year on year, with the government, finance and communications sectors spending over USD 3.6 billion on IT in 2021.
Wednesday, 27 January, 2021 - 10:45
General view of Riyadh, Saudi Arabia. (Reuters) Riyadh - Asharq Al-Awsat
Overall spending on information and communications technology (ICT) in Saudi Arabia is set to reach $32.9 billion this year up 1.5 percent since 2020, predicted an international report.
International Data Corporation (IDC) held its virtual edition of IDC Directions Middle East, Turkey, and Africa, with the participation of the region s most influential ICT industry figures.
Speaking at the event, the firm s regional director for Saudi Arabia and Bahrain, Hamza Naqshbandi, announced that spending on IT in the Kingdom will reach $11.1 billion in 2021, with services and devices accounting for more than half of the market.
Saudi Arabia’s ICT market to top $32bn in 2021: IDC
RIYADH, January 27, 2021 Overall spending on ICT in Saudi Arabia is set to reach $32.9 billion this year, up 1.5% on 2020, according to the latest predictions revealed last week by International Data Corporation (IDC). The announcement came as IDC hosted the virtual edition of IDC Directions Middle East, Turkey & Africa. Speaking at the event, the firm s regional director for Saudi Arabia and Bahrain, Hamza Naqshbandi, announced that spending on IT in the Kingdom will reach $11.1 billion in 2021, with services and devices accounting for more than half of the market. He said that IT spending in the country (including mobile devices, storage, hardware, systems, and software) will grow 4.2% year on year, with the government, finance, and communications sectors to spend in excess of $3.6 billion on IT in 2021.
Saudi IT spending to hit $11bn in 2021
Saudi Arabian organisations will spend about $11bn on IT this year, with emerging technologies high on shopping lists
Share this item with your network: By Published: 26 Jan 2021 13:45
Saudi Arabian organisations will spend $11bn on IT this year, as emerging technologies are adopted to adapt to the post-pandemic business environment.
Post-pandemic challenges will fuel IT spending alongside existing strategies to diversify the local economy, where IT will play a key role in reducing reliance on oil revenues.
Spending on IT services and devices will account for more than half of the IT spend, said IDC. The total spent on IT this year will be 4.2% higher than last year, and Saudi government, finance, and communications organisations will spend about $3.6bn on IT.
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