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  • 25-08-21

    Saudi Arabia to see growth in all major areas of digital technology

    (MENAFN) According to the head of the Kingdom’s technology regulator, Saudi Arabia is going to witness noticed enlargement in all major areas of digital technology from Internet of Things (IoT) to cloud computing, improving thereby the entire size of the information and communication technology (ICT) sector to USD27 billion by 2025.

    A forum in Riyadh quoted Mohammed Al-Tamimi, governor of the Communications and Information Technology Commission (CITC) as saying that “The Kingdom will witness, over the next five years, the growth of the IT and emerging technologies markets at a compound annual rate of nearly 10 percent. Its size will exceed $27 billion by 2025.”

    The IoT market size is estimated to increase at a compound annual volume of 26 percent, as cloud services are estimated to make up to 30 percent of the total ICT spend in the Kingdom by 2030.

    The official further declared that “Saudi Arabia’s digital achievements are a result of the Kingdom’s strategic focus three key objectives: Enhancing and protecting the core of digital infrastructure, enabling the expansion of IT services, software, and hardware and, most importantly, supporting the exploration of new emerging markets that will form the backbone of the digital economy.”

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