Saudi Arabia will witness significant growth in all major areas of digital technology from the Internet of Things (IoT) to cloud computing, increasing the entire size of the information and communication technology (ICT) sector by 10 percent to $27 billion by 2025.
Mohammed Al-Tamimi, governor of the Communications and Information Technology Commission (CITC), made the declaration as the CITC inaugurated on Tuesday the Digital Technology Forum on "Promising Investment Opportunities for a Digital Future".
Similarly, the IoT market size is expected to grow at a compound annual rate of 26 percent, while cloud services are expected to make up to 30 percent of the total ICT spend in the Kingdom by 2030.
"Saudi Arabia’s digital achievements are a result of the Kingdom’s strategic focus on three key objectives: Enhancing and protecting the core of the digital infrastructure, enabling the expansion of IT services, software, and hardware and, most importantly, supporting the exploration of new emerging markets that will form the backbone of the digital economy," Tamimi said.
Saudi Arabia is the top Digital Riser among the G20 countries and 9th in the world for digital skills literacy.
Moreover, the Kingdom’s progressive spectrum strategy places it second among the G20 for spectrum allocation.
