Saudi Arabia remains the biggest IT market in the GCC with a forecast value of $3.3 billion in 2010, which is expected to grow to $4.6 billion by 2014, according to recent figures from Business Monitor International. Computer hardware sales including PCs, notebooks and accessories are estimated to reach $1.8 billion this year, while the IT services market is expected to hit $971 million in 2010 and sustain a 9 percent compound annual growth rate (CAGR) until 2014. Confirming the strong growth potential of Saudi Arabia, AlFalak Electronic Equipment & Supplies Co, recorded a 22 per cent year-on-year growth in the Middle East in 2009. To further boost its growth prospects, ALFalak has revealed that it has strengthened its product portfolio with the inclusion of Symantec's new Norton Antivirus 2011 and Norton Internet Security 2011 as part of its latest product offerings, while the company has also launched several Microsoft promotions for resellers who make bulk purchases of Microsoft products. Ahmed Ashadawi, CEO and president, AlFalak, said: “Saudi Arabia continues to open attractive business opportunities for the IT industry and we are working hard to complement the robust growth by making available the latest IT solutions and innovations to the Saudi IT market. ALFalak has thus launched an aggressive promotional campaign which we believe will further boost reseller performance in our key markets. We will continue to monitor market trends and explore new ways to better serve and address the evolving requirements of our clients in Saudi Arabia.”
