Saudi Arabia's IT market is billed as the largest in the Middle East, according to IDC.
By observing the Saudi Arabia landscape, Connectikpeople.co notes that, the
government continues to invest in large infrastructure projects, primarily in
the communications, government, finance, oil and gas, and consumer verticals. Meaning
that, IT vendors, IT managers, IT skills will find many opportunities across
the market.
Today, Connectikpeople.co has captured the new study from IDC which announces
that, overall IT spending in Saudi Arabia is set to increase 10.7% year on year
in 2014 to total $11.50 billion. The consumer, communications, finance, and oil
and gas sectors expected to be the biggest IT spenders during the five-year
forecast period.
According to the same study, the consumer sector is expected to remain the
largest in Saudi Arabia in 2014, with expected IT spend of $4.18 billion,
accounting for 36.4% of the kingdom's total IT market. The combined transport,
communications, and utilities grouping will be the second-largest vertical
market, with such organizations investing $1.95 billion in 2014.
The public sector, which includes government, healthcare, and education, expected
to remain the third-biggest vertical in 2014 with $1.78 billion in IT
investments, representing 15.5% market share. ‘’The major drivers of growth in
this sector will be increased social spending on e-government initiatives with
the aim of improving service delivery to residents, as well as the construction
of new schools and hospitals and upgrades to existing ones’
However, Connectikpeople.co observes that, the limited availability of
skills is the biggest issue businesses in Saudi Arabia face and is an
identifiable trend across verticals.
Therefore, according to IDC, as the kingdom's nationalization initiatives
gather steam and the government continues to push organizations to comply with
Nitaqat regulations, IDC anticipates that the availability of advanced IT
skills will become scarcer, which will put more pressure on providers, and may
result in project delays as well as increased investments in training.