Since the beginning of this year several independent analyst and research firms reported that the Saudi Arabia for technology is going to expand with the increase in Saudi government IT spending.
According to leading IT research and analyst firm IDC, Saudi government IT spending on infrastructure and security, particularly in the areas of communication and education, could push the total amount the Kingdom spends on IT hardware, software, and related services pass the USD 6.4 billion mark.
Whereas, Springboard Research, another leading technology research company, earlier this year reported that public sector IT spending in the Kingdom alone, is growing so quickly that it will likely hit USD 2.4 billion in 2013, up from around USD 1.6 billion in 2009, with a compound annual growth rate of 10.9 percent.
“Liberalisation of the telecommunications sector and increasing demand for Internet connectivity across different verticals are the two main drivers fueling Saudi Arabia’s IT industry growth,” said Trixee Loh, SVP, World Trade Centre.
He further added, “Research tells us that Saudi Arabia maintains one of the world’s fastest growing markets for safety and security solutions, equipment, and systems, as just one example. The Kingdom has invested billions of dollars to upgrade and increase security measures in cities, industrial installations, financial institutions, transportation infrastructure, and utility plants.”
Keeping the in mind the ever growing market of IT is the kingdom, GITEX Technology Week this year is introducing a host of new features which are expected to appeal to Saudi visitors to the world’s third-largest ICT exhibition and conference, with the number of Saudi exhibitors doubling from 2010.
