TECH SUPPLIER Aug 2020 - Technology Segment - Doc # META45207620

Saudi Arabia IT Services Market 2020–2024 Forecast and 2019 Analysis

By: Mufasir YousufSenior Research Analyst

Abstract

The reality in 2020 and beyond will be significantly different; indeed, the world today is completely different due to the outbreak of the COVID-19 pandemic. According to IDC's regular research and discussions with CIOs, organizations are clearly looking for better ways to invest in technology as they expedite their DX programs. They are looking for new avenues to improve their revenues or reduce their expenditures. On one hand, business resilience, automation, agility, and IT security will be will be focus areas for organizations looking to ensure business continuity and operational efficiency; on the other hand, creating digital workspaces and empowering employees at remote working locations with necessary tools will be essential for the seamless delivery of services. These aspects will also support many organizations in securing remote endpoints.

This IDC study presents an overview of Saudi Arabia's IT services market in 2019, and forecasts expenditure on IT services through 2024. The study contains market size and distribution analyses by foundation markets and vertical markets. The study also presents forecasts for 12 foundation market categories, and answers the following questions:

  • What are IDC's predictions for spending on IT services in Saudi Arabia? What are the assumptions behind the forecast numbers, and what impact will the related issues have on the market throughout the forecast period?
  • What are the latest trends in IT services in the Saudi Arabia in areas such as support services project-oriented services and managed services?

"The outbreak of COVID-19 has created a global health crisis, and deeply impacted people's perception of how the world operates. The pandemic has also impacted Saudi Arabia and changed the economic and medical outlook of the country. Fortunately, the DX projects carried out over the last few years have allowed the country to minimize the impact of the pandemic and its associated lockdown. While spending will be very cautious in the near term, the implementation and adoption of IT transformation initiatives in Saudi Arabia will grow in the coming years. Alongside rising cloud adoption rates, market growth will be driven by the organizational need to increase efficiency, support remote delivery, and improve security capabilities. Services providers should adjust their offerings to accommodate these trends and other emerging customer needs." — Senior Research Analyst Mufasir Yousuf, IDC Saudi Arabia.


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