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FINANCIAL NEWS
Saudi ICT spending to reach USD36.95b in 2015
28 Dec 2014
(MENAFN) According to the International Data Corporation, Saudi Arabia’s spending on ICT products and services is expected to register an increase by 4.6 percent in 2015 to amount to USD36.95 billion, Emirates 24/7 reported.
The report said that IT services are predicted to record the fastest growth due to growing interest in hybrid cloud solutions, as well as increased investments by Saudi organizations in the 3rd Platform technologies of cloud, mobility, analytics, and social networking.
“The expanding use of applications, mobile devices, social media, and other technologies will result in an explosion of data within many Saudi organizations, leading many of them to invest in storage infrastructure, data mining, and analytics applications,” IDC’s regional director for Saudi Arabia, Kuwait, and Bahrain said.
IDC also said that the Saudi ICT market will continue to grow as well next year, with spending projected to exceed USD36 billion, in addition to the smartphones market, with expectations that there will be over 16 million smartphones in use in the kingdom by the end of 2015, with a 28 percent increase in LTE device shipments.
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