Saudi IT market set to dazzle investors

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The Saudi IT market is geared up to attract investment of up to USD 8 billion by the end of 2012. This investment would further increase to about USD 12.3 billion by 2015.

The growth has been witnessed due to rising trends of virtualization and global ERP systems. There has been an increased interest in scalable data center infrastructure and solutions because of growing demand for high speed uninterrupted bandwidth and reliable data storage. By the end of 2012, about 85 percent of Saudi companies are expected to adopt cloud technologies.

Jean-Pierre Labry, Executive Vice President, R&M Middle East and Africa, believes that, “Saudi IT decision-makers have become increasingly aware of the need for robust data center environments to guarantee reliable and secure data communication and storage as the Saudi market continues to adopt services such as cloud computing at a rapid pace”.

The Saudi IT market is one of the most advanced in the Middle East region as it has the highest penetration of new services and applications in data communications. The Saudi private sector has swiftly embraced change and made use of new technology to meet complex demands of the changing business world. An increasing number of Saudi users are adopting latest technologies related video over Internet, social networks, online storage, file sharing and online gaming.

As a result of increased demand, the Saudi IT market has also become crowded and solution service providers are facing stiff market competition. Heightened competition has also squeezed the profits of service providers and they have to adopt new ways of attracting clients. Growing competition has forced service providers to introduce latest solutions and focus on enhanced levels of customer service. There is also a growing focus on customizing solutions to ensure a balance between technology and the available budget of customers.

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