The Internet of Things (IoT) market in Saudi Arabia is predicted to grow to a whopping SAR 11.6 billion ($3.1 billion) by 2023, according to a statement issued by the Communications and Information Technology Commission (CITC).
There is an estimated 11.3 million IoT connected devices in the Kingdom, where keenness is displayed towards promoting and investing in emerging technologies.
CITC Governor Mohammed Altamimi, in a meeting held at Asharqiya Chamber, confirmed that the commission has eased difficulties that once challenged investment in the communications and information technology sector.
“Promoting the investment environment, we were able to cancel about 60% of requirements for acquiring a communications license,” Altamimi said, revealing that the commission has recently issued 23 communications and information technology licenses, bringing the total of active permits in the Kingdom to 305.
Altamimi pointed out that there are many promising opportunities available, especially in the cloud computing market which is expected to grow to SAR 4 billion ($1 billion dollars) in 2023.
In the Kingdom, there are currently 11 entities that provide cloud computing services to clients, he noted.
These entities are looking to create investment and employment opportunities, raise the efficiency of data centers in Saudi Arabia, encourage SMEs to use cloud computing services, and build the infrastructure for data centers to provide cloud computing services in the country.
Speaking about the challenges facing the postal sector, Altamimi cited difficulties strapping the capacity for transformation to e-services. Ensuring clarity and transparency in agent protection is one of those challenges facing authorities.
CITC, during Q2 2020, released an index that discloses to customers how postal companies deal with complaints.
In Q3, a sharp drop of 75% was registered in the number of complaints made.
CITC figures show that the size of the postal and logistics sector market in the Kingdom exceeded SAR 5 billion ($1.3 billion) with a total of 23 companies operating in the postal transport market.
More so, the capacity of the postal sector reached 25 million quarterly shipments in 2020, constituting an increase of 62% compared to 2019.