According to Technavio, the Saudi Arabia Managed Services Market is expected to grow by USD 949 million, at a CAGR of 6.51% during 2023-2028. The expanding need for companies, particularly in sectors such as banking, financial services, insurance (BFSI), and retail, to outsource non-essential tasks is contributing to this market surge. These companies are looking to cut operational expenses while boosting productivity by using advanced software like supply chain management systems. Additionally, the rise of cloud-based managed services in Saudi Arabia is playing a vital role as businesses increasingly shift toward cloud solutions to improve IT infrastructure and increase operational agility. Despite these advancements, data security concerns continue to present obstacles as companies grapple with the potential risks of sharing sensitive information with third-party providers. Strict regulatory frameworks and enhanced security protocols are being adopted to minimize these concerns.

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