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FINANCIAL NEWS
Saudi Arabia’s ICT spending to surpass USD 35bn
20 Dec 2015
(MENAFN) ICT spending in Saudi Arabia will reach USD 35.9bn in the coming year, as organizations across the kingdom began to hold digital transformation initiatives.
Accordingly, the Saudi ICT market is highly modest, and only the most progressive service providers with strong abilities around emerging tech will continue to increase.
“In a bid to optimize their costs and increase their levels of operational efficiency, organizations are increasingly investing in transformative business initiatives,” said IDC’s local director.
He also added, we have adjusted our ICT market predict for 2016 down from USD 36.7bn to USD 35.9bn, which shows a more modest-than-usual growth rate of 3.8 pct year on year.
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