Saudi IT market to top SAR 40 bln by 2021, says SAP executive
Saudi Arabia's information technology (IT) market is set to cross SAR 40 billion by 2021, driven by digital transformation, smart cities, and Saudi Vision 2030, according to a senior SAP executive.
"Rapidly-digitizing verticals such as aviation, banking and finance, public sector, retail, and telco are enabling organizations to optimize costs, efficiency, and digital business," said Ahmed Al-Faifi, senior vice president and managing director, SAP Middle East North ahead of GITEX Technology Week in Dubai.
The massive Middle East digital market shows that CEOs are early adopters in digital transformation on the cloud, for digital business models that can transform customer experiences, he noted.
The tech giant is set to announce new research revealing how cloud serves as the foundation for smart cities and emerging technologies during GITEX.
SAP is investing SAR 285 million, as part of its four-year plan to support the Kingdom's digital transformation.