Market Trends of Saudi Arabia Cloud Services Industry
Economic Benefits Leading to Cloud Adoption is Expected to Drive the Market Growth
- The Saudi economy is rapidly getting back on track. This increase in GDP and foreign direct investment indicates that the country's revenues from different sectors are increasing; similarly, there may be a rise in technology industries. The market examined will be driven by such a large increase in income.
- In many sectors, the Kingdom's economy is growing as a result of its natural resources and cultural location across three continents. As a result of this expansion, the country has established a sound economic foundation, has become one of the twenty most important economies in the world, and has actively joined the G20. Saudi Arabia, has beem supported by a robust financial system, One of the main players in world economic and oil markets is a strong banking industry, with massive government undertakings based on highly qualified Saudi workers.
- Further, with several investment programs under the Public Investment Fund and prominent corporations, The pace of this structural change is expected to continue in the years ahead. It is also expected that knowledge and innovative ideas will be spread more widely. The economic growth of the market should be driven by these vision policies. Cloud service providers will greatly benefit from such a situation, so that they are able to reach out to public companies and use cloud services in order to increase their market shares.
- According (DGA), the Kingdom of Saudi Arabia has significant government technology investment in the world, making up 21.7% of all national technological expenditures and is anticipated to reach USD 24.8 billion by 2025. The government reports that 141 government agencies have published 6442 open data sets. 74% of the overall demand for cloud computing services, software, and big data in the government will be met by information technology services in the upcoming years.
- The region's increase in the economy from various sectors and the kingdom's policies towards digital transformation will enable the government bodies in Saudi to adopt the cloud into their work system, which will likely reduce the IT cost of the public firms and increase scalability.
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Healthcare is to Witness Growth
- The government's efforts to digitise the healthcare sector have had a major impact on growing adoption of cloud computing services in this country. Saudi Arabia's Ministry of Health has stepped up its IT transformation, following the start of COVID 19, which added strain to the healthcare system and increased the need for strong applications such as vaccination reservation systems or direct access to patients' medical records. This has led to an increased adoption of cloud computing services in the healthcare sector since the influenza epidemic.
- As a result of the COVID-19 pandemic, Saudi Arabia's healthcare sector has been forced to adapt to few new ways of working at a rapid pace, as a sudden and rapid increase in the number of patients required a more consolidated and coordinated approach to care. This has led to a growing demand for Cloud services in the country that provide patients with easy access to efficient, high quality care no matter where they live.
- The adoption of cloud services across the healthcare sector enables healthcare providers to shift from the use of labor intensive, energy hungry servers to the management of their IT operations in a secure cloud environment. This has further increased the demand for cloud services in the healthcare sector in the country.
- Various cloud service providers, such as Vmare and STC Cloud, are being working with the Ministry of Health and private healthcare institutions in order to ensure that all patients in the Kingdom can benefit from innovative technology. Cloud technologies, which simplify paperwork and enable new doctors to easily access patient medical information that is protected by cyber security solutions, are therefore increasing the adoption of health care.
- The Ministry of Health shall aim to achieve the greatest levels of excellence in health care, consistent with Saudi Vision 2030 objectives. A multicloud framework has been set up to optimise operations, increase efficiency and foster innovation in healthcare services across the country.
- Predictive analytics in healthcare is a key driver of the cloud market in Saudi Arabia. The use of predictive analytics, coupled with cloud computing, offers numerous benefits in improving healthcare outcomes, enhancing patient care, and optimizing resource utilization. According to Philips, 48 percent of healthcare leaders surveyed in Saudi Arabia in the previous year stated that they had previously implemented or were currently in the process of implementing predictive analytics in their healthcare organization.
