Huge leaps have been recorded by digital transformation in Saudi Arabia in the past years, after Vision 2030 made it at the heart of economic diversification efforts, and the first enabler of strategies and transformation programs in all sectors, through a national digital vision.
This vision provides the IT services sector with years of ultra-fast growth, to reach the levels of the most advanced markets in the uses of artificial intelligence, robotics, augmented reality, cloud Internet of things and e-commerce.
The current spending rate in the Kingdom on information and communication technology services allocated to companies is estimated at 38.4 billion riyals, and this figure is expected to increase to reach its level in global markets, which gives positive expectations for the sector’s growth at a compound annual rate of 6.7%, with a value of 53 billion riyals by 2025.
Riyad Moawad, Chairman of the Board of Directors of the Arab Company for Internet Services “solution bt STC”, says that digital transformation depends on two main factors, which are the availability of fast internet and connectivity services, and digital infrastructure, and here came the role of STC Solution, which played a key role in accelerating the mechanism of digital transformation. Improving the quality of customer services and raising their operational efficiency.
Solutions by stc is considered one of the most prominent players in this promising sector, and has contributed over the past two decades to shaping a new digital future for the Kingdom.
Omar Al-Noamani, CEO of solutions by stc, said that during 25 years, the company has built an integrated structure with alliances with 150 international companies that provide innovative services, which has helped the company’s presence in more than 34 cities in the Kingdom and provide services to more than 24 thousand customers, as well as The presence of 1500 employees to provide integrated digital services.
Over the years, the company was able to build a system of alliances and partnerships with more than 150 international brands in the fields of information technology and digital services.
Today, the public offering of its shares comes as a step to enable solutions by stc to seize the large and expected growth opportunities for this sector.
The ICT services market for corporate businesses in the Kingdom is the largest in the Gulf countries, and in the future, the Kingdom is expected to become the fastest growing market in the region.
stc solutions are working to take advantage of promising opportunities in various sectors and projects that are announced within the initiatives of the Kingdom’s Vision 2030, especially with regard to establishing smart cities such as the “NEOM” project, digitizing the health care system, and adopting the “cloud first” policy.