Devoteam retains crown in Saudi Arabia's IT consulting market

18 March 2024 Consultancy-me.com 4 min. read

Saudi Arabia’s burgeoning IT consulting market has grown rapidly over the past year to hit a market value of SAR 1.4 billion, with Devoteam crowned the Kingdom’s market leader.

New research by global analyst firm IDC has shed light into the state of the Saudi IT consulting market, finding that the segment is dominated by a handful of well-known global players.

Combined, the five leaders hold over half of the SAR 1.4 billion market, with Devoteam punching above its global weight to take Saudi pole position for the second consecutive year, ahead of the Big Four, Accenture, and Indian giants such as Wipro and Tata Consultancy Services.

Devoteam retains crown in Saudi Arabia's IT consulting market

Source: IDC, Saudi Arabia IT Services Market Shares report

“We are pleased to again be recognized as the number one company in Saudi Arabia’s IT consulting market,” said Osama Ghoul, Group Executive Vice President and Managing Partner of Devoteam in the Middle East.

Headquartered in France, Devoteam is a globally operating IT consultancy with over 10,000 staff. Its Middle East business has around 750 people, serving clients in Saudi Arabia, United Arab Emirates and the rest of the Middle East.

With Saudi Arabia the region’s largest IT services landscape, Ghoul said Devoteam is deeply committed to helping its clients in the Kingdom achieve digital excellence.

“For the past 20 years, we have been proudly supporting Saudi Arabia through its digital transformation journey. This recognition by IDC cements our leading position within today’s dynamic market and distinguishes us from competitors through our continuous adaptations of the latest methodologies, strategies and technologies in the IT industry.”

In the Kingdom, Devoteam is highly involved in work relating to the country’s digital ambitions aligned to Vision 2030, with the firm supporting a broad range of Vision Realization programs. “We provide premium digital services to a wide customer base in the Kingdom, starting with the digital strategy, through design to execution.”

Examples of work include helping government institutions with deploying mission-critical systems to serve people nationwide, and supporting public organisations with adopting (emerging) technologies such as cloud, cybersecurity, data analytics, and artificial intelligence.

Meanwhile, Devoteam helps its clients design and implement future-proof technology systems, with the firm among the leading regional partners of major vendors such as Google, Microsoft, Salesforce and ServiceNow.

Strategic partnership with solutions by stc

Signalling its intent to remain at the forefront of the Saudi market, Devoteam earlier this year closed a strategic partnership and ownership deal with solutions by stc, which is the nation’s largest ICT services company.

With more than 1,700 employees, solutions by stc has a market share nearly three times the size of its nearest rival. Combined, Devoteam and solutions by stc now hold according to IDC’s estimates nearly one quarter of the total market for digital transformation services.

IT services market

According to IDC’s research, Saudi Arabia’s IT services market is currently worth $4.2 billion. On the back of the Kingdom’s digitalization roadmap, the market is expected to grow by a compound annual growth rate (CAGR) of over 5% in the coming years, meaning the industry will crack the $5 billion barrier sometime in 2026.

IDC’s definition of IT services covers the full lifecycle of technology services, from strategic digital advisory and IT design work, through to technology build, implementation work, application maintenance and upgrades, and managed services for IT processes. Consulting is billed as the ‘premium’ segment in the wider industry.

Saudi Arabia is the world’s 19th economy and is also one of the fastest growing large economies. Under its Vision 2030 initiative, the country has set its sights on becoming one of the most technologically advanced nations in the world.