Saudi Arabia’s Information and Communications Technology (ICT) sector recorded a significant surge in 2023, with total contracts exceeding $10 billion, driven by increased spending in the healthcare and defense sectors.
According to a new report by global research firm International Data Corporation (IDC), over 45% of these contracts were allocated to digital transformation initiatives in healthcare, while the defense sector also played a major role by investing in advanced technologies such as artificial intelligence, cybersecurity, and data analytics.
This sharp increase in ICT contracts aligns with the goals of Saudi Vision 2030, which places digital transformation at the core of the Kingdom’s development strategy, aiming to modernize key industries and improve national productivity.
The report noted that both local and international tech companies have benefited from this momentum, with a rise in projects involving cloud computing, smart services, and digital infrastructure.
Analysts say this wave of investment signals Saudi Arabia’s commitment to building a fully digital economy, fostering an advanced technological environment to support critical sectors and meet evolving citizen expectations.
Read More: Al-Hussam Park a Scenic Destination in the Heart of Al-Baha
