IDC expects spending on communications and information technology in Saudi Arabia to grow to $32.9 billion in 2022

Naqshbandi: The ICT sector in the Kingdom is one of the fastest growing sectors in the region

Riyadh: The activities of the eighth edition of the ICT Indicators Forum, held recently in Riyadh, revealed that the Kingdom of Saudi Arabia is currently one of the fastest growing ICT markets in the world.

Organized by the Commission for Communications and Information Technology in collaboration with the International Data Corporation (IDC), the forum saw presentations and discussion sessions that provided valuable information on the current state of the communications and information technology market and the digital transformation journey of the Kingdom. These sessions also explained the impact of government initiatives to enable the digital transformation process in various economic sectors in the Kingdom.

During his speech at the forum, Mr. Explaining that the Kingdom’s communications and information technology sector is one of the fastest growing in the region, Hamza Naqshbandi, Vice President of IDC in Saudi Arabia and Bahrain, said: “The Kingdom’s response to the Corona Virus (Covid-19) pandemic is one of the strongest and most coherent globally,” adding, “IDC research showed that Saudi Arabia was significantly more prepared to respond to the pandemic than other countries, and the Kingdom’s Vision 2030 pioneering initiatives were the primary mediator of this success.”

The size of the information and communication technology market in the Kingdom of Saudi Arabia increased by 8% between 2019 and 2021 to $32.1 billion, and IDC expects continued growth during the current year 2022 with 2.3% annual growth compared to last year, which is more than last year. The expected spending on communication and information technology in the Kingdom is 32.9 billion US dollars (equivalent to 123.4 billion Saudi Riyals).

According to the data of the Communications and Information Technology Commission, the Kingdom has added 37,000 communication towers, covering about 99% of the total regions of the Kingdom, and the value of the communication, information technology and postal market in the Kingdom has reached more. more than 140 billion Saudi Riyal in 2021.

Naqshbandi continued: “The growth rate that the IDC expects during 2022 in the size of the communication and information technology market in the Kingdom is very high, especially compared to the rest of the countries in the region,” adding: “This reinforces the broader global trend, as (IDC) expects Total global ICT spending to increase from $3.86 trillion (SAR 14.48 billion) in 2021 to $5.34 trillion (SAR 20.03 billion) by 2025.”

During his presentation, Mr. Stephen Frantzen, IDC’s Vice President EMEA and one of the Forum’s keynote speakers, encouraged companies to prepare for the future and the role they will play and the impact they want to make.

“Digital means in our world will continue to be an established norm, while at the same time constantly evolving,” says Mr Frantzen, adding, “There are entire industries that are trying to take advantage of data in smart ways, and they can achieve this because they can quickly adopt digital technologies, but the “digital-first” approach It is not only the ability to choose or prefer a particular technology or business model, but also an organization-wide orientation and a culture that required in the work environment applied in communication with customers, hybrid work systems, unified information security, implementation of remote operations and shared business values.”

Mr. Frantzen also moderated a panel discussion entitled “The basic components of the digital economy in Saudi Arabia – expectations for a hyper-connected kingdom that puts digital methods at the fore” in which a number of the most important leaders of the ICT sector in the Kingdom participated and presented their views and visions for the future. They are: Mr. Salman Fakih, CEO of Cisco in Saudi Arabia, Mr. Rashid Al Odah, CEO of Trend Micro in Saudi Arabia, Mr. Ziad Murtaji, CEO of Al Moammar Information Systems, and Eng Majed Al Otaibi, CEO For the business sector, carriers and operators at Mobily.

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About the International Data Corporation (IDC):

The International Data Corporation (IDC) is the leading global provider of information, advisory services and opportunities for the ICT and consumer technology markets. With more than 1,200 analysts worldwide, IDC provides global, regional and local expertise in technologies, opportunities and trends in more than 110 countries. Make technical decisions based on facts and on achieving their key business objectives. The International Data Corporation (IDC) was founded in 1964 and is a subsidiary of the International Data Group (IDG), the world leader in technology, media, research and events. For more information about IDC, please visit www.idc.com, follow IDC on Twitter at @IDC, and on LinkedIn, and you can also subscribe to the IDC blog IDC Blog To keep up with the latest ICT news and analysis .

for more information:

Abdullah Enayat

Media Relations Manager

W7Worldwide Strategic and Media Consulting

00966555990258 a.inayat@w7worldwide.com

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