Saudi Arabia Enterprise ICT Market is expected to register a 11% CAGR through 2030F

The Saudi Arabia Enterprise ICT Market is rising due to increasing digital transformation initiatives and investments in technology infrastructure during the forecast period 2026-2030F.

According to TechSci Research report, “Saudi Arabia Enterprise ICT Market – By Region, Competition, Forecast and Opportunities, 2030”, Saudi Arabia Enterprise ICT Market has valued at USD 12.1 Billion in 2024 and is expected to reach USD 22.84 Billion in 2030 and project robust growth in the forecast period with a CAGR of 11% through 2030. The increasing demand for cloud computing is a significant driver behind the growth of the Saudi Arabia Enterprise ICT market. Cloud computing offers businesses in Saudi Arabia the flexibility, scalability, and cost-efficiency they need to streamline their operations and enhance productivity. With the rapid adoption of digital technologies, businesses are recognizing the benefits of cloud computing in terms of data storage, software applications, and infrastructure. The scalability of cloud services allows businesses to easily adjust their computing resources based on their needs, enabling them to efficiently manage peak workloads and optimize resource utilization. Additionally, cloud computing eliminates the need for businesses to invest in expensive hardware and software infrastructure, reducing upfront costs and enabling them to allocate their resources more strategically. The government has also taken steps to promote cloud adoption, such as the launch of the Saudi Cloud Computing Program (SCCP) and the establishment of local data centers. These initiatives have created a favorable environment for businesses to migrate their operations to the cloud, driving the demand for cloud-based ICT solutions and services. Furthermore, cloud computing offers enhanced data security and disaster recovery capabilities, addressing concerns about data protection and business continuity. This is particularly important in industries such as finance, healthcare, and government, where data privacy and security are paramount. The increasing demand for cloud computing in Saudi Arabia is not only driven by the benefits it offers to businesses but also by the government's push for digital transformation and the need for efficient and scalable ICT solutions.

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The Jeddah region is emerging as the fastest-growing area in the Saudi Arabia Enterprise ICT market due to several pivotal factors driving its rapid expansion and adoption of advanced technologies. Jeddah's strategic geographical location as a major commercial hub and gateway to the holy cities of Mecca and Medina positions it at the forefront of economic activity in the Kingdom. This central role fosters a dynamic business environment where enterprises across various sectors, including finance, healthcare, retail, and logistics, are increasingly embracing digital transformation initiatives to enhance operational efficiency and competitiveness. Jeddah's robust infrastructure development plays a crucial role in catalyzing the growth of the Enterprise ICT market. The city boasts modern telecommunications networks, high-speed internet connectivity, and state-of-the-art data centers, supported by ongoing investments in smart city initiatives and digital infrastructure projects. These advancements provide a solid foundation for enterprises in Jeddah to adopt and leverage cutting-edge ICT solutions such as cloud computing, big data analytics, cybersecurity, and AI-driven technologies. By integrating these technologies into their operations, businesses can streamline processes, improve decision-making capabilities, and deliver enhanced services to customers, thereby driving growth and innovation in the local economy. Jeddah's thriving startup ecosystem and entrepreneurial spirit contribute significantly to the acceleration of the Enterprise ICT market. The city is home to a burgeoning community of technology startups and innovation hubs that are at the forefront of developing and deploying disruptive ICT solutions tailored to meet specific industry needs. These startups leverage Jeddah's supportive business environment, access to capital, and collaborative networks to pioneer new technologies and business models, attracting investments and driving innovation across the ICT sector. Jeddah's commitment to Vision 2030, Saudi Arabia's ambitious national transformation program, further propels its leadership in the Enterprise ICT market. Vision 2030 aims to diversify the economy, promote digitalization, and enhance the Kingdom's global competitiveness. 

In 2024, Based on Industry Vertical, the BFSI (Banking, Financial Services, and Insurance) industry vertical dominated the Saudi Arabia Enterprise ICT market and is expected to maintain its dominance during the forecast period. The BFSI sector is a critical driver of the Saudi Arabian economy, and as such, it heavily relies on robust and secure ICT solutions to support its operations. The BFSI industry requires advanced technologies to manage financial transactions, ensure data security, and provide seamless customer experiences. In 2022, the BFSI sector witnessed significant investments in digital transformation initiatives, including the adoption of cloud computing, data analytics, and AI-powered solutions. These technologies enable banks, financial institutions, and insurance companies to automate processes, enhance risk management, and improve customer engagement. The BFSI sector also faces unique challenges such as regulatory compliance and cybersecurity, which further drive the demand for specialized ICT solutions. As the BFSI industry continues to prioritize digital innovation and customer-centric strategies, it is expected to maintain its dominance in the Saudi Arabia Enterprise ICT market during the forecast period. The industry's focus on enhancing operational efficiency, expanding digital services, and ensuring data security will drive the demand for a wide range of ICT solutions, including core banking systems, payment processing platforms, cybersecurity solutions, and customer relationship management (CRM) software.

Key market players in the Saudi Arabia Enterprise ICT Market are: 

• IBM Corporation
• Dell Technologies Inc.
• Palo Alto Networks Inc.
• Amazon.com Inc.
• Cisco System Inc
• Lockheed Martin Corporation
• Hewlett Packard Enterprise Company
• Accenture PLC

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“The Saudi Arabia Enterprise ICT market offers substantial growth opportunities driven by the nation's Vision 2030, which aims to diversify the economy and foster digital innovation. As businesses embrace digital transformation, there is an increasing demand for cloud computing, big data analytics, and enterprise software solutions to optimize operations and enhance productivity. The rise of e-commerce, fintech, and smart city initiatives further drives the need for robust ICT infrastructure. Additionally, cybersecurity solutions are in high demand as businesses seek to safeguard critical data amid rising cyber threats. Government investments in technology and a growing startup ecosystem present opportunities for ICT providers to deliver tailored solutions. With the adoption of IoT, AI, and machine learning, there is immense potential for creating intelligent systems that streamline business processes and improve decision-making, creating a thriving landscape for enterprise ICT solutions in the country.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Saudi Arabia Enterprise ICT Market By Type (Hardware, Software, IT services, Telecommunication services), By Enterprise Size (Small and Medium Enterprise, Large enterprises), By Industry Vertical (BFSI, IT and telecom, Government, Retail and E-commerce, Manufacturing, Energy and Utilities), By Region, Competition, Forecast and Opportunities, 2020-2030F,” has evaluated the future growth potential of Saudi Arabia Enterprise ICT Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia Enterprise ICT Market.

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