Investor Presentation 2021
Trending Technologies
Telecom market has been going through a fixed-mobile
convergence wave to become an ICT one-stop-shop for
their business customers, providing mobile and fixed
telecommunication services and IT and loT solutions,
under one contract (and therefore one billing).
Investor Presentation 2021 | stc group
11
AI & ML
$28.5 Million
→ Al & Machine Learning will grow at
a steady pace in 2021 to reach $
28.5 Mn as enterprises will use
cognitive systems to monitor and
refine business processes. In 2023
spending expected to reach $ 38.5
Mn.
→ 18% of Saudi organizations have
already implemented Al whilst
more than 40% are looking to
invest in Al workloads within 2021.
By 2023, 40% of the data collected
throughout the customer journey
will be used to create a better
product and a personalized
experience.
→ Saudi Arabia's Al & Data Authority
will empower public sector to
adopt Al use cases.
Source: IDC Report, Saudi ICT Market and Forecast
IoT
$2.2 Billion
→ More than 72% of organizations in
Saudi Arabia expected to deploy
an loT solution to gain competitive
advantage by cost reductions and
improved productivity driving the
spending in the kingdom to
surpass $2.2 Bn in 2021 and
growing to $3.08 Bn in 2023.
→ loT spending will be driven by
analytics, application platforms,
and security.
→ 5G technology for loT is not yet
fully standardized. The next two
years will be crucial for loT related
to 5G standardization.
Cyber Security
$425 Million
→ Security spending is predicted to
reach more than $ 425 Mn.
→ In 2021, more 26% of Saudi
organizations will invest heavily in
cybersecurity solutions. 35% of
security spending in META will
move to public cloud by 2023, up
from 19% in 2019. 40% of spending
will be on managed security
services.
Cloud Computing
$425 Million
→ By end of 2021 Cloud spending in
the Kingdom will cross $541 Mn. By
2023 total spending on cloud will
reach $ 789 Mn.
→ SaaS forms 75% of Cloud spending.
Top cloud applications:
→ Enterprise Performance
→ Human Capital Management
→ Financial Applications
→ Procurement Applications
→ Marketing Campaign Management
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