target audience: TECH SUPPLIER Publication date: Nov 2023 - Document type: Market Presentation - Doc Document number: # META51337823
Saudi Arabia Enterprise Services: Compete
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Abstract
This IDC Market Presentation provides a detailed analysis of the competitive landscape of the IT services market in Saudi Arabia in the first half of 2023. It not only covers key findings and revenue snapshots for project-oriented services, managed services, and support services but also analyzes the strategies, market shares, and growth perspectives and insights of key vendors.
Saudi Arabia has been undertaking a massive transformation effort to reduce its reliance on oil and diversify its economy. Despite various pandemic-related challenges and the looming prospect of global recession, Saudi Arabia‘s economy has expanded and shown great resiliency. The data and insights within this presentation are part of IDC's Worldwide Semiannual Services Tracker.
In line with its National Vision 2030, Saudi Arabia has invested heavily in mega projects and digitalization initaitives. These investments have created huge demand for emerging technologies and other digital transformation initiatives in both the public and private sectors.
"Organizations in Saudi Arabia are adopting new technologies and undertaking digital transformation initiatives at a notable pace. IT service providers play a key role in this transformation and have an excellent opportunity to showcase their technology skills and capabilities, especially around cloud and AI. Given the rapid growth of the managed services market, service providers need to increase their profit margins and leverage new technologies to deliver cost-effective and efficient services to customers." — Suraj Godse, senior research analyst, IT services, IDC Middle East and Africa