According to Technavio, the Managed Services Market in Saudi Arabia is projected to grow by USD 949 million, with a CAGR of 6.51% between 2023 and 2028. Businesses in industries like BFSI and retail are increasingly outsourcing non-essential functions to focus on their core activities while reducing costs and boosting productivity. The use of advanced tools, such as supply chain management software, is playing a crucial role in driving operational efficiency. Another critical factor behind this growth is the rise of cloud-based managed services, as companies across the country work to improve their IT infrastructure and enhance agility. Digital transformation across various industries has also accelerated the demand for these services. However, challenges related to data privacy and security remain prevalent, as companies are cautious about sharing sensitive data with third-party service providers. In response, organizations are focusing on strengthening their security protocols and ensuring adherence to regulatory requirements to safeguard their information.

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