Overall spending on information and communications technology (ICT) in Saudi Arabia is set to reach $32.9 billion this year, up 1.5% on 2020, according to an international market intelligence firm.
According to the firm, spending on IT in the Kingdom will reach $11.1 billion in 2021, with services and devices accounting from more than half of the market. It says IT spending in the country (including mobile devices, storage, hardware, systems, and software) will grow 4.2% year on year, with the government, finance, and communications sectors to spend in excess of $3.6 billion on IT in 2021.
It also added that that emerging technologies will continue to play a critical role in the post-pandemic digital economy as business and IT leaders in Saudi Arabia look ahead to 2021 and the new normal.
Saudi Arabia's vision for a smart economy relies heavily on digital transformation initiatives, an area the government has always focused on and heavily invested in long before COVID-19.