Trends to Watch Out for in Saudi’s Ict Industry :
A key driver of growth in the Saudi ICT industry has been the government’s Vision 2030 plan. This plan, launched in 2016, seeks to diversify the Saudi economy and lessen its reliance on oil. One of the key ways it aims to do this is by developing the ICT sector, which is a crucial driver of economic growth and a significant contributor to job creation.
To achieve this, the government has implemented several initiatives to support the growth of the ICT industry, such as providing funding for research and development, creating a supportive regulatory environment, and investing in infrastructure and technology parks.
Here are a few ICT trends to look out for in the coming years:
1. 5G and IOT:
According to a report by Open Signal, a UK-based mobile analytics company, in October 2022, Saudi Arabia ranks no1 among the fastest in the 5G mobile network’s average speed, reaching a speed of 377.2 Mbps. The KSA aims to continue this momentum by increasing investment in mobile broadband high-speed projects across the country. Saudi Arabia’s Vision 2030 realizes the importance of 5G in the nation’s future and strives to make Saudi a new tech hub for the modern Arab world.
Projections by the Ministry of Communications and Information show that 5G will contribute more than $19 billion to Saudi Arabia’s GDP and create almost 20,000 new ICT jobs by 2030. 5G networks can support a more significant number of connected devices, enabling the widespread deployment of IoT technology in various industries and applications. Integrating IoT in cities can help improve efficiency and enhance the quality of life of Saudi citizens.
2. Artificial Intelligence and Machine Learning:
The Kingdom of Saudi Arabia plans to be at the forefront of AI technology in the coming years. Under the framework of the Vision 2030 of the KSA, Artificial intelligence is an important topic. The KSA plans to become a global leader in AI and integrate it into its new mega-city initiatives. These technologies are becoming increasingly prevalent and are used to improve automation and decision-making processes across various industries.
3. Cloud Computing and Cybersecurity:
The adoption of cloud computing is rising in Saudi Arabia as businesses look to reduce costs and increase efficiency. This ICT trend is projected to continue as companies and government organizations increasingly rely on digital technologies.
Also, with the increasing use of digital technologies, cybersecurity is becoming a significant concern for businesses and the government in Saudi Arabia. Hence, we expect to see increased investment in cybersecurity solutions and services in the coming years.
The Saudi ICT industry has proliferated in recent years, driven by government initiatives, private sector investment, and an increasing demand for technology products and services. This trend should continue in the future as the country continues to focus on using ICT as a powerful tool to support the modernization and development of the country by improving services, increasing efficiency and productivity, and creating new opportunities.