Content area

Abstract

Saudi Arabian IT market growth over 2022-2024 was stronger than previously envisaged, and we hold a robust outlook in 2025 and over the forecast period to 2028. The bullish sentiment is bolstered by substantial investments that aim to diversify the economy, in alignment with the ongoing Vision 2030 initiatives and the creation of expansive giga-projects. As Crown Prince Mohammed bin Salman Al Saud continues to drive the kingdom towards a more tech-centric future, we expect to see significant growth in areas like data analytics, AI, cybersecurity, and cloud computing. The IT sector's potential is enhanced by government-led initiatives, considerable capital expenditure, the rise of smart cities, advancements in 5G technologies, and the increasing integration of machine-to-machine and Internet of Things technologies. Risks are heavily weighted to the downside as regional geopolitical and security concerns continue to present challenges.

Details

1007133
Location
Title
Saudi Arabia Information Technology Report - Q1 2025
First page
1
Publication year
2025
Publication date
First Quarter 2025
Publisher
Fitch Solutions Group Limited
Place of publication
London
Country of publication
United Arab Emirates
Publication subject
Source type
Report
Language of publication
English
Document type
Industry Report
Document feature
Industry risk; Industry financials
ProQuest document ID
3155009617
Document URL
https://www.proquest.com/reports/saudi-arabia-information-technology-report-q1/docview/3155009617/se-2?accountid=208611
Copyright
Copyright 2025 Business Monitor International. All rights reserved
Last updated
2025-01-15
Database
ProQuest One Academic