Saudi's IT market to achieve 13 per cent CAGR in three years, reach SAR 37 billion by 2013
The Kingdom of Saudi Arabia's IT market is expected to achieve a Compound Annual Growth Rate (CAGR) of 13.4 per cent over the next three years, with IT spending posting a 17 per cent growth this year alone and reaching a value of nearly SAR 37 billion by 2013, according to the CITC Annual Report. Sustained government expenditure, the growing number of mega-infrastructure developments, enhanced business landscape, and continued adoption of technology-based services such as IT outsourcing have been identified as the catalysts for the increase in demand for various IT products and services.
The robust growth forecast provides an excellent backdrop to the upcoming GITEX KSA 2011, the premier business-to-business networking event and leading consumer ICT showcase that will be held at the Riyadh International Convention & Exhibition Center from April 10 to 13, 2011 / Jumada al-Awwal 6 to 9, 1432 (H). GITEX KSA, which will run concurrently with Saudi Communications 2011, has been expanded and enhanced to enable trade exhibitors to strengthen their foothold in the Saudi market and benefit from the country's solid growth prospects.
Shahid Bhatti, Project Manager of GITEX KSA at Riyadh Exhibitions Company, said: "The next few years will be crucial as the Saudi market ushers in a period of sustained growth and strong demand for IT products and services. Local and international industry players are now jockeying for position and are taking advantage of every opportunity to strengthen their marketing initiatives and grab a significant share of the IT market. As always, GITEX KSA will provide the most comprehensive marketing platform for IT companies and service providers to gain invaluable exposure in key segments and high-growth niche markets. Such a high level of confidence from leading industry players will be crucial in further enhancing the business landscape and generating more growth opportunities in the country's IT industry."
GITEX KSA / Saudi Communications 2011 will cover a wide selection of applications, systems and IT components targeting a full range of market segments. The concurrent exhibitions will feature ICT products and services, telecommunications equipment, systems, networking, IT solutions, software/programs, office automation, the latest PCs and laptops, mobile phones, multimedia devices and several other digital products.
GITEX KSA / Saudi Communications 2011 will also offer an excellent range of business-to-business IT solutions, catering to various needs of an array of business organisations in Saudi Arabia. In addition, the event will incorporate various business-to-business networking activities to discuss various projects and business prospects with buyers, decision makers, agents and distributors.
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