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| Saudi IT market to touch $4.8b mark by 2013 |
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Posted on 26 Jan 2010 |
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Saudi IT market is poised to touch $4.8 billion mark by 2013, according to a leading distribution company and a member of National Technology Group (NTG).
The Saudi IT market, which has been valued at around $3.5 billion in 2009 is expected to reach $4.8 billion by 2013, said Bassam Abu Baker, Group General Manager of Advanced Integrated Media (AIM).
Moreover, Saudi government’s spending in areas that complement economic growth such as technology adoption is likewise boosting growth prospects. According to a royal decree issued recently by the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz, the Kingdom’s expenditure for the new fiscal year has been pegged at around $144 billion, increasing from around $126.7 billion in 2009.
AIM also announced the launch of new distribution division aimed at widening the range of ICT products and services across Saudi Arabia and complement the strong growth prospects of the GCC’s largest IT market.
The official said the launch of Gulf International for Technology (GIT), its newest distribution division will enable AIM to deliver a wider range of ICT products and services across Saudi Arabia and complement the strong growth prospects of the GCC’s largest IT market.
“The launch of GIT will greatly benefit the Saudi market as we will be able to introduce new leading brands and provide better choices to consumers,” said Abu Baker.
GIT will provide a comprehensive networking platform for leading global brands to optimize their expansion initiatives in the Saudi IT market, which has been valued at around $3.5 billion in 2009 and is expected to increase to $4.8 billion by 2013,” he said.
GIT is poised to sign distribution agreements with leading international brands including Epson and expected to develop new business lines through Microsoft rights which AIM currently holds.
AIM’s estimated annual revenues are more than $160 million.
The new brands that will come onboard will complement AIM’s existing portfolio of HP products, enabling the company to further expand its market reach and deliver more value-added products and services to customers.
Saudi Arabia remains a vibrant IT market with increasing technology adoption across all sectors recent statistics have revealed that computer hardware sales in the Kingdom including PCs, notebooks and accessories have a compound annual growth rate (CAGR) of seven percent between 2009 and 2013.
NTG is a multinational conglomerate group with over 20 specialized ICT businesses. Headquartered in Riyadh, the company has direct and joint venture operations in the Middle East, India, Sri Lanka and USA. NTG is expanding rapidly into new geographies, setting up joint ventures, incubating new ideas and launching new ICT initiatives.
The Saudi Gazette
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