123.4 billion riyals, the expected volume of spending on technology in the Kingdom in 2022

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A recent report expected an increase in the size of the information and communications technology market in the Kingdom, during the current year 2022, by 2.3%, compared to the previous year 2021, to exceed the expected spending on communications and information technology in the Kingdom of 32.9 billion US dollars (equivalent to 123.4 billion Saudi riyals).

high growth

The expectations came within the report prepared by the International Data Company “IDC” for the growth of the Saudi information and communications technology market during the current year, which it announced during the eighth edition of the Communications and Information Technology Indicators Forum, which was held recently in Riyadh, after the market grew by 8% between the years 2019 and 2021, to reach $32.1 billion.

The highest in the region

Hamza Naqshbandi, Vice President of IDC in the Kingdom and Bahrain, said that the expected growth rate during 2022 for the communications and information technology market in the Kingdom is very high, especially when compared to the rest of the countries in the region. The Kingdom added 37,000 communications towers, covering about 99% of the total areas, in addition to the increase in the value of the communications, information technology and postal market to more than 140 billion Saudi riyals last year (equivalent to 37.3 billion US dollars).

global market

He explained that what supports the growth of the Saudi market is the broader global trend, as IDC expects that the total global spending on communications and information technology will rise from 3.86 trillion US dollars (14.48 trillion Saudi riyals) in the year 2021 to 5.34 trillion dollars (20.03 trillion riyals). Saudi) by 2025.

Naqshbandi described the communications and information technology sector in the Kingdom as one of the fastest growing in the region, stressing that the Kingdom’s response to the Corona Virus (Covid-19) pandemic was one of the strongest and most cohesive globally, continuing: Research by the International Data Corporation (IDC) showed that the Kingdom of Saudi Arabia Saudi Arabia was significantly more prepared to respond to the pandemic than other countries, and the Kingdom’s Vision 2030 pioneering initiatives were the main enabler of this success.

Government initiatives

The eighth edition of the Communications and Information Technology Indicators Forum, which was held recently in Riyadh, and was organized by the Communications and Information Technology Commission in cooperation with the International Data Corporation (IDC – IDC), witnessed presentations and discussion sessions that provided valuable information on the current situation of the telecommunications and information technology market and the journey of transformation. Kingdom Digital.

These sessions also demonstrated the impact of government initiatives on enabling the digital transformation process in various economic sectors in the Kingdom.

fixed base

During his presentation at the forum, Stephen Frantzen, IDC’s Vice President EMEA, urged companies to prepare for the future and the role they will play and the impact they want to make.

He said: Digital means will continue in our world as a stable base, and at the same time continue to evolve, stressing that there are entire industries that seek to benefit from data in smart ways, and they can achieve this because they can quickly adopt digital technologies.

Digitize first

But the “digitization-first” methodology is not only the ability to choose or prefer a particular technology or business model, but rather an orientation at the level of the entire organization and a culture required in the work environment that is applied in communication with customers, hybrid work systems, unified information security, and implementation Remote operations, shared work values.

Frantzen also moderated a panel discussion entitled “The Basic Components of the Digital Economy in the Kingdom – Expectations for a Hyper-connected Kingdom that Puts Digital Methods at the fore” in which a number of the most important Saudi ICT leaders participated, presenting their views and visions for the future.

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