Technological transformation and investment opportunities in the Kingdom of Saudi Arabia
The Kingdom of Saudi Arabia is witnessing rapid development in the field of technology, and has a clear strategy to transform the economy towards digital. The technology sector is a huge investment opportunity right now.
Modern technological developments provide multiple opportunities for investment in the Kingdom, including developing Internet infrastructure and providing digital services, artificial intelligence applications, big data analysis, and virtual reality and augmented reality technologies.
The government is a major supporter of the development of the technology sector, through major national projects such as “Kingdom’s Vision 2030” and the “Digital Saudi Arabia” program. Investment opportunities include establishing and operating technology centers, developing environmental technology solutions, and providing operation and maintenance services.
According to a report by the Organization for Economic Co-operation and Development (OECD), the gross domestic product (GDP) of the technology sector in Saudi Arabia reached 45 billion Saudi riyals in 2020, representing a growth of 7% compared to the previous year.
Through the “Digital Saudi Arabia” program, it intends to invest in technological infrastructure worth up to 50 billion Saudi riyals during the period from 2021 to 2025, with the aim of promoting digital transformation in various vital sectors, including education, health, and government administration.
The number of technology and innovation companies in Saudi Arabia is expected to increase by 10% in the coming years, according to official estimates.
However, it faces challenges that may hinder the development of the sector, such as a lack of technical skills, cybersecurity challenges, and legislation and regulations. Therefore, investors must provide innovative and sustainable solutions to overcome these challenges and take advantage of the promising opportunities in the technology sector in Saudi Arabia.
“A feasibility study in the technology sector is essential for assessing the opportunities and challenges that technology investments may face. This study includes a detailed analysis of the technology market and its competitors, in addition to estimating the potential demand for the proposed technology products or services.”
“Conducting a feasibility study in the technology sector also includes estimating the expected costs of developing and commercializing technological products or services, including research and development costs, marketing and distribution costs, and necessary infrastructure costs.”
“In addition, the feasibility study in the technology sector includes estimating the expected revenues from the proposed products or services, and estimating the expected financial return on investment. Determining the expected financial return is one of the main factors that affect the feasibility of technology investment.”
“After collecting and analyzing data, a comprehensive report is presented that contains recommendations about the feasibility of technological investment and the extent of achieving the expected financial return. These recommendations are essential for making the right investment decisions and ensuring the success of the proposed technological project.”
