NEW YORK, Jan. 30, 2023 /PRNewswire/ -- According to Technavio, the size of the IT market in Saudi Arabia is estimated to grow by USD 5.00 million from 2021 to 2026. The market is estimated to grow at a CAGR of 7.78% during the forecast period. Moreover, the growth momentum will accelerate. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the market. To know more, buy the report!

IT market in Saudi Arabia - Five forces
The market in Saudi Arabia is fragmented, and the five forces analysis covers– 

• Bargaining power of buyers 
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes
• For interpretation of Porter's five forces model – request a sample report

IT market in Saudi Arabia – Customer landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

IT market in Saudi Arabia - Segmentation assessment

Segment overview
Technavio has segmented the market based on end-user (government, telecommunication, BFSI, oil and gas, and others) and component (hardware, services, and software). 

• The government segment will account for a significant share of the market during the forecast period. The government sector uses IT for areas such as defense, the development of public utilities, government-controlled energy companies, public healthcare, municipal and rural affairs, and housing development. Under the Vision 2030 Program, by Saudi Arabian government plans significant IT investments through the government sector and the National Transformation Program (NTP) initiative. These factors will drive the growth of this segment during the forecast period.

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IT market in Saudi Arabia – Market dynamics
Key factor driving market growth

• The launch of the National Transformation Program is driving the growth of the market.
• In 2016, the government launched the NTP, which is part of the Vision 2030 program.
• Under this program, the government will focus on economic development and infrastructure development. It would also include plans to diversify the economy and create new job opportunities.
• The government intends to digitally enable all sectors of the economy, such as manufacturing, government, healthcare, and BFSI, under the NTP. Therefore, IT is required to facilitate Vision 2030.
• These factors will fuel the growth of the market during the forecast period.

Leading trends influencing the market 

• The increasing demand for e-governance is a key trend in the market.
• The government has launched e-Government online services such as employment programs, e-learning services, online job searches, passports and civil affairs, traffic updates and control, online issuance of commercial registers, and online payment services.
• It also plans to expand the scope of current online services, which would include services such as geographic information systems, health care, and education.
• In addition, the use of cloud computing is expected to increase in the country.
• These factors will support the growth of the market during the forecast period.

Major challenges hindering the market growth

• The increasing threat of cyber-crimes will challenge the market growth during the forecast period.
• The adoption of advanced technologies has increased among companies, as the country is focusing on globalization, privatization, and advances in technologies.
• However, this will increase the risk of cyber-attacks.
• Moreover, enterprises are adopting cloud services, which increases their risk of threats.
• These factors will impede the market growth during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Saudi Arabia IT market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the IT market in Saudi Arabia between 2022 and 2026
• Precise estimation of the size of the IT market in Saudi Arabia and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Saudi Arabia IT market vendors

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Table of contents

1. Executive Summary 

  1.1 Market Overview

  Exhibit 01:  Key Finding 1

  Exhibit 02:  Key Finding 2

  Exhibit 03:  Key Finding 6

  Exhibit 04:  Key Finding 5

  Exhibit 05:  Key Finding 7

2. Market Landscape 

  2.1 Market ecosystem 

  Exhibit 06:  Parent market

  Exhibit 07:  Market Characteristics

  2.2 Value chain analysis 

  Exhibit 08:  Value Chain Analysis: IT consulting and other services

  2.2.1  Inputs

  2.2.2  Operations

  2.2.2.1 Pitching and profiling

  2.2.2.2 Resourcing and communicating

  2.2.2.3 Delivery and support

  2.2.2.4 Connecting and innovating

  2.2.3  Marketing and sales

  2.2.4  Service

  2.2.5  Support activities

  2.2.6  Innovations

3. Market Sizing 

  3.1 Market definition

  Exhibit 09:  Offerings of vendors included in the market definition

  3.2 Market segment analysis 

  Exhibit 10:  Market segments

  3.3 Market size 2021 

  3.4 Market outlook: Forecast for 2021 - 2026 

  Exhibit 11:  Global - Market size and forecast 2021 - 2026 ($ million)

  Exhibit 12:  Global market: Year-over-year growth 2021 - 2026 (%)

4. Five Forces Analysis 

  4.1 Five Forces Summary 

  Exhibit 13:  Five forces analysis 2021 & 2026

  4.2 Bargaining power of buyers 

  Exhibit 14:  Bargaining power of buyers

  4.3 Bargaining power of suppliers 

  Exhibit 15:  Bargaining power of suppliers

  4.4 Threat of new entrants 

  Exhibit 16:  Threat of new entrants

  4.5 Threat of substitutes 

  Exhibit 17:  Threat of substitutes

  4.6 Threat of rivalry 

  Exhibit 18:  Threat of rivalry

  4.7 Market condition

  Exhibit 19:  Market condition - Five forces 2021

5. Market Segmentation by End-user 

  5.1 Market segments

  The segments covered in this chapter are:

• Government
• Telecommunication
• BFSI
• Oil and gas
• Others

  Exhibit 20:  End-user - Market share 2021-2026 (%)

  5.2  Comparison by End-user 

  Exhibit 21:  Comparison by End-user

  5.3  Government - Market size and forecast 2021-2026 

  Exhibit 22:  Government - Market size and forecast 2021-2026 ($ million)

  Exhibit 23:  Government - Year-over-year growth 2021-2026 (%)

  5.4  Telecommunication - Market size and forecast 2021-2026 

  Exhibit 24:  Telecommunication - Market size and forecast 2021-2026 ($ million)

  Exhibit 25:  Telecommunication - Year-over-year growth 2021-2026 (%)

  5.5  BFSI - Market size and forecast 2021-2026 

  Exhibit 26:  BFSI - Market size and forecast 2021-2026 ($ million)

  Exhibit 27:  BFSI - Year-over-year growth 2021-2026 (%)

  5.6  Oil and gas - Market size and forecast 2021-2026 

  Exhibit 28:  Oil and gas - Market size and forecast 2021-2026 ($ million)

  Exhibit 29:  Oil and gas - Year-over-year growth 2021-2026 (%)

  5.7  Others - Market size and forecast 2021-2026 

  Exhibit 30:  Others - Market size and forecast 2021-2026 ($ million)

  Exhibit 31:  Others - Year-over-year growth 2021-2026 (%)

  5.8  Market opportunity by End-user 

  Exhibit 32:  Market opportunity by End-user

6. Market Segmentation by Component 

  6.1 Market segments

  The segments covered in this chapter are:

• Hardware
• Services
• Software

  Exhibit 33:  Component - Market share 2021-2026 (%)

  6.2  Comparison by Component 

  Exhibit 34:  Comparison by Component

  6.3  Hardware - Market size and forecast 2021-2026

  Exhibit 35:  Hardware - Market size and forecast 2021-2026 ($ million)

  Exhibit 36:  Hardware - Year-over-year growth 2021-2026 (%)

  6.4  Services - Market size and forecast 2021-2026 

  Exhibit 37:  Services - Market size and forecast 2021-2026 ($ million)

  Exhibit 38:  Services - Year-over-year growth 2021-2026 (%)

  6.5  Software - Market size and forecast 2021-2026 

  Exhibit 39:  Software - Market size and forecast 2021-2026 ($ million)

  Exhibit 40:  Software - Year-over-year growth 2021-2026 (%)

  6.6  Market opportunity by Component 

  Exhibit 41:  Market opportunity by Component

7. Customer Landscape 

  7.1  Overview 

  Exhibit 42:  Customer landscape

8. Drivers, Challenges, and Trends 

  8.1  Market drivers 

  8.1.1  Launch of National Transformation Program

  8.1.2  Use of IT in the creation of NEOM

  8.1.3  Booming e-commerce sector

  8.2  Market challenges 

  8.2.1  Increasing threat of cyber crimes

  8.2.2  Fluctuating oil prices

  8.2.3  Stringent laws and regulations

  Exhibit 43:  Impact of drivers and challenges

  8.3  Market trends 

  8.3.1  Increasing demand for e-governance

  8.3.2  Emerging technologies

  8.3.3  Change in economic structure

9. Vendor Landscape 

  9.1  Overview 

  Exhibit 44:  Vendor landscape

  9.2  Landscape disruption 

  Exhibit 45:  Landscape disruption

  Exhibit 46:  Industry risks

  9.3  Competitive scenario 

10. Vendor Analysis 

  10.1  Vendors covered 

  Exhibit 47:  Vendors covered

  10.2 Market positioning of vendors 

  Exhibit 48:  Market positioning of vendors

  10.3  Accenture Plc 

  Exhibit 49:  Accenture Plc - Overview

  Exhibit 50:  Accenture Plc - Business segments

  Exhibit 51:  Accenture Plc - Key offerings

  Exhibit 52:  Accenture Plc - Segment focus

  10.4  Alphabet Inc. 

  Exhibit 53:  Alphabet Inc. - Overview

  Exhibit 54:  Alphabet Inc. - Business segments

  Exhibit 55:  Alphabet Inc. - Key news

  Exhibit 56:  Alphabet Inc. - Key offerings

  Exhibit 57:  Alphabet Inc. - Segment focus

  10.5  Cisco Systems Inc. 

  Exhibit 58:  Cisco Systems Inc. - Overview

  Exhibit 59:  Cisco Systems Inc. - Business segments

  Exhibit 60:  Cisco Systems Inc. - Key news

  Exhibit 61:  Cisco Systems Inc. - Key offerings

  Exhibit 62:  Cisco Systems Inc. - Segment focus

  10.6  Ejada Systems Ltd. 

  Exhibit 63:  Ejada Systems Ltd. - Overview

  Exhibit 64:  Ejada Systems Ltd. - Product and service

  Exhibit 65:  Ejada Systems Ltd. - Key news

  Exhibit 66:  Ejada Systems Ltd. - Key offerings

  10.7  Hewlett Packard Enterprise Co. 

  Exhibit 67:  Hewlett Packard Enterprise Co. - Overview

  Exhibit 68:  Hewlett Packard Enterprise Co. - Business segments

  Exhibit 69:  Hewlett Packard Enterprise Co. - Key offerings

  Exhibit 70:  Hewlett Packard Enterprise Co. - Segment focus

  10.8  Huawei Investment and Holding Co. Ltd.

  Exhibit 71:  Huawei Investment and Holding Co. Ltd. - Overview

  Exhibit 72:  Huawei Investment and Holding Co. Ltd. - Business segments

  Exhibit 73:  Huawei Investment and Holding Co. Ltd. - Key news

  Exhibit 74:  Huawei Investment and Holding Co. Ltd. - Key offerings

  Exhibit 75:  Huawei Investment and Holding Co. Ltd. - Segment focus

  10.9  International Business Machines Corp. 

  Exhibit 76:  International Business Machines Corp. - Overview

  Exhibit 77:  International Business Machines Corp. - Business segments

  Exhibit 78:  International Business Machines Corp. - Key news

  Exhibit 79:  International Business Machines Corp. - Key offerings

  Exhibit 80:  International Business Machines Corp. - Segment focus

  10.10  Microsoft Corp. 

  Exhibit 81:  Microsoft Corp. - Overview

  Exhibit 82:  Microsoft Corp. - Business segments

  Exhibit 83:  Microsoft Corp. - Key news

  Exhibit 84:  Microsoft Corp. - Key offerings

  Exhibit 85:  Microsoft Corp. - Segment focus

  10.11  Oracle Corp. 

  Exhibit 86:  Oracle Corp. - Overview

  Exhibit 87:  Oracle Corp. - Business segments

  Exhibit 88:  Oracle Corp. - Key news

  Exhibit 89:  Oracle Corp. - Key offerings

  Exhibit 90:  Oracle Corp. - Segment focus

  10.12  SAP SE

  Exhibit 91:  SAP SE - Overview

  Exhibit 92:  SAP SE - Business segments

  Exhibit 93:  SAP SE - Key news

  Exhibit 94:  SAP SE - Key offerings

  Exhibit 95:  SAP SE - Segment focus

11. Appendix 

  11.1 Scope of the report 

  11.1.1 ????Market definition

  11.1.2 Objective

  11.1.3 Notes and caveats

  11 Currency conversion rates for US$

  Exhibit 96:  Currency conversion rates for US$

  11.3 Research Methodology 

  Exhibit 97:  Research Methodology

  Exhibit 98:  Validation techniques employed for market sizing

  Exhibit 99:  Information sources

  11.4 List of abbreviations 

  Exhibit 100:  List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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