Saudi Arabia’s spend on information security software will grow at a rate of 12 per cent to reach $96 million in 2016, as compared with 2015, expects the International Data Corporation (IDC).
IDC, the research, analysis and advisory firm, said that online threats and developed third platform technologies increase concerns about the confidentiality of data and promote the demand for information security services.
IDC confirms that information security will become a key component in the digital transformation of Saudi Arabia’s strategies and there is a growth in the number of organisations that are looking for the application of various advanced and proactive information security solutions.
IDC predicted that spend on telecommunications and information technology in the Kingdom will reach $35.9 billion in 2016, underpinned by the adoption of digital transformation initiatives by the Kingdom’s organisations in order to reduce costs and enhance the efficiency of business processes.
($1 = AED3.67, at the time of publishing)