Noida, UP India (PressExposure) June 16, 2011 -- Saudi Arabia is the Arab world's largest telecommunications market. The Saudi Arabian telecom market, due to its vast size and potential, is on the radar of most industry stakeholders. As per our study, the communications sector continues to be the largest investor in the IT industry. Besides, rising youth population is an important factor for surging IT spending in Saudi Arabia. The Kingdom's government spends much on infrastructure and education, which creates a huge demand for advanced technology and security. The government has also expressed its commitment to further liberalize IT sector to attract more foreign and domestic players to invest in this sector.
According to our research report "Saudi Arabia ICT Market Forecast 2014", liberalization of telecommunication sector and increasing demand for Internet connectivity across different verticals are fueling growth in Saudi Arabia's IT industry with a projected compounded annual growth rate of around 12% during 2011-2014. Further, Saudi Arabia maintains one of the world's fastest growing markets for safety and security solutions, equipment, and systems. The Kingdom has invested billions of dollars to upgrade and increase security measures in cities, industrial installations, financial institutions, transportation infrastructure, and utility plants.
We have also found that, various foreign players are entering the kingdom and many SMEs are expanding their businesses abroad. With the expansion of outsourcing industry at a steady rate, the market for complex services has also made rapid strides forward. Additionally, the government is providing various facilities to SMEs, such as manufacturing of SMEs industrial city, and financial loan services. Foreign players, such as HSBC are also enhancing their portfolio in SMEs.
"Saudi Arabia ICT Market Forecast 2014" provides detail study of Saudi Arabia's ICT market by examining IT industry and telecommunications industry. Our research studied hardware, software, service market, fixed line, mobile, internet, broadband and 3G services in Saudi Arabia. We also analyzed the scope of WiMax, IPTV, smartphone, security software market, online gaming, and advanced banking services, which will provide a comprehensive view of the market dynamics to clients.
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