Saudi Arabia acknowledges the potential of ICT industry
2011-04-26
Kingdom of Saudi Arabia acknowledged the potential of ICT industry with the Shura Council eyeing to raise the industry’s contribution to the level of 20 per cent of national GDP by 2020. Reaffirming the government’s robust ICT outlook, recent studies have projected Saudi Arabia’s software market to reach a value of USD 675 million during the current year, up from USD 611 million in 2010 and poised to maintain a healthy growth rate in the succeeding years, while the IT services market is expected to reach USD 1.1 billion this year and sustain a compound annual growth rate (CAGR) of 9 per cent during the 2011 – 2015 period.Read More…