Technavio has been monitoring the IT market in Saudi Arabia and it is poised to grow by USD 6.24 billion during 2020-2024, progressing at a CAGR of about 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled IT Market in Saudi Arabia 2020-2024 (Graphic: Business Wire)
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Accenture Plc, Alphabet Inc., Cisco Systems Inc., Ejada, Hewlett Packard Enterprise Co., Huawei Investment & Holding Co. Ltd., International Business Machines Corp., Microsoft Corp., Oracle Corp., and SAP SE are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Launch of National Transformation Program (NTP) has been instrumental in driving the growth of the market.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. https://www.technavio.com/report/report/it-market-size-in-saudi-arabia-industry-analysis
IT Market in Saudi Arabia 2020-2024: Segmentation
IT Market in Saudi Arabia is segmented as below:
- Oil and Gas
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IT Market in Saudi Arabia 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The IT market in Saudi Arabia report covers the following areas:
- IT Market in Saudi Arabia Size
- IT Market in Saudi Arabia Trends
- IT Market in Saudi Arabia Industry Analysis
This study identifies the use of IT in the creation of NEOM as one of the prime reasons driving the IT market growth in Saudi Arabia during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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IT Market in Saudi Arabia 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist IT market growth in Saudi Arabia during the next five years
- Estimation of the IT market size in Saudi Arabia and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the IT market in Saudi Arabia
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of IT market vendors in Saudi Arabia
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user placement
- Government – Market size and forecast 2019-2024
- Telecommunication – Market size and forecast 2019-2024
- BFSI – Market size and forecast 2019-2024
- Oil and Gas – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by End-user
Market Segmentation by Component
- Market segments
- Comparison by Component placement
- Hardware – Market size and forecast 2019-2024
- Services – Market size and forecast 2019-2024
- Software – Market size and forecast 2019-2024
- Market opportunity by Component
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Accenture Plc
- Alphabet Inc.
- Cisco Systems Inc.
- Hewlett Packard Enterprise Co.
- Huawei Investment & Holding Co. Ltd.
- International Business Machines Corp.
- Microsoft Corp.
- Oracle Corp.
- SAP SE
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides 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.