FINANCIAL NEWS

BMI: Saudi IT market to hit $4.6b in 2014

16 Sep 2010

(MENAFN) a report issued by Business Monitor International showed that Saudi Arabia remains the biggest IT market in the GCC with a forecast value of $3.3 billion in 2010, which is expected to grow to $4.6 billion by 2014, Saudi Gazette reported.

Computer hardware sales including PCs, notebooks and accessories are estimated to reach $1.8 billion this year, while the IT services market is expected to hit $971 million in 2010 and sustain a nine percent compound annual growth rate until 2014.

Confirming the strong growth potential of Saudi Arabia, ALFalak Electronic Equipment and Supplies Company, a provider of technology-based end-to-end solutions in the Middle East, announced a 22 percent year-on-year growth in the Middle East in 2009.

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