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Managed Services Market in Saudi Arabia to Expand by USD 949 Million (2024-2028), Driven by Outsourcing Demand in BFSI and Retail, with AI Redefining the Landscape- Technavio

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NEW YORK, Nov. 29, 2024 /PRNewswire/ — Report with market evolution powered by AI – The managed services market in saudi arabia size is estimated to grow by USD 949 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.51%  during the forecast period. Growing demand for outsourcing of non-core operations in banking, financial services, and insurance (BFSI) and retail sector is driving market growth, with a trend towards increase in adoption of cloud-based managed services in Saudi Arabia. However, data and privacy issues  poses a challenge. Key market players include ACS Services Inc., Alphabet Inc., Amazon.com Inc., AO Kaspersky Lab, Atos SE, Cisco Systems Inc., Diyar United Co., eHosting DataFort, Fortinet Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Juniper Networks Inc., Microsoft Corp., Nokia Corp., Palo Alto Networks Inc., Security Matterz, Telefonaktiebolaget LM Ericsson, Wipro Ltd., and Zoho Corp. Pvt. Ltd..

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Managed Services Market In Saudi Arabia Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.51%

Market growth 2024-2028

USD 949 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.0

Regional analysis

Saudi Arabia

Performing market contribution

Middle East at 100%

Key countries

Saudi Arabia and MEA

Key companies profiled

ACS Services Inc., Alphabet Inc., Amazon.com Inc., AO Kaspersky Lab, Atos SE, Cisco Systems Inc., Diyar United Co., eHosting DataFort, Fortinet Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Juniper Networks Inc., Microsoft Corp., Nokia Corp., Palo Alto Networks Inc., Security Matterz, Telefonaktiebolaget LM Ericsson, Wipro Ltd., and Zoho Corp. Pvt. Ltd.

Market Driver

The Managed Services Market in Saudi Arabia is experiencing significant growth due to the increasing adoption of remote work and hybrid work models. This shift has led to an increased demand for collaboration tools, outsourcing of IT infrastructure, and managed services from providers. The market is transitioning towards a subscription-based model, offering strategic solutions in cloud computing, cybersecurity, managed infrastructure, communications, mobility, and more. Large enterprises in IT and telecommunication, entertainment and media, and the digital realm are investing in managed services to enhance their cybersecurity posture. Managed security services, including vulnerability management, risk and compliance, detection and response, firewall management, and log management, are essential for mitigating cyber threats and protecting data. Managed services providers offer a range of service types, including fully managed and co-managed services for network security, cloud security, endpoint security, application security, and telecommunications. The market also caters to on-premises and cloud-based solutions, addressing the needs of various industries such as banking, transportation, healthcare, and e-commerce. The market’s growth is driven by digital transformation, increasing cyberattacks, and the need for agility in service delivery. Managed service providers offer proactive security measures, threat monitoring, incident response, and cybersecurity awareness to help businesses stay ahead of cyber threats. The use of artificial intelligence and automation tools in hybrid security services further enhances security compliance and threat detection capabilities. In conclusion, the Managed Services Market in Saudi Arabia is a dynamic and evolving landscape, offering a range of services to help businesses navigate the digital economy and address their unique needs in the face of cybersecurity challenges. 

In Saudi Arabia, the use of managed services based in the cloud has gained significant traction. This trend can be explained by the benefits cloud solutions provide, including scalability, cost-effectiveness, and flexibility. The primary reason for this trend is the increasing demand for digital transformation across various industries in Saudi Arabia. Companies recognize the importance of adapting to cloud-based solutions to remain competitive in today’s rapidly evolving technology landscape. The COVID-19 pandemic has further accelerated this shift, as businesses have had to adapt quickly to remote work arrangements, and cloud services have been essential for enabling remote work environments. 

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Market Challenges

The managed services market in Saudi Arabia is experiencing significant growth, particularly in the areas of remote work and hybrid work environments. With the increasing adoption of collaboration tools and outsourcing, managed services providers (MSPs) are in high demand for managing IT infrastructure, ensuring continuous monitoring, and providing strategic solutions. This shift to cloud computing brings challenges in the form of cybersecurity, with managed security services becoming essential for data protection and threat detection. MSPs offer a range of services, including managed infrastructure, communications, mobility, and network security, available both on-premises and cloud-based. Large enterprises in IT and telecommunication, entertainment and media, and digital realm sectors are investing in managed services to enhance their cybersecurity posture and mitigate risks. As cyber threats evolve, MSPs provide proactive security measures, including vulnerability management, risk and compliance, detection and response, and firewall management. The subscription-based model allows businesses to access skilled workforces and the latest digital technologies, including artificial intelligence and automation tools, for hybrid security services and regulatory compliance. MSPs play a crucial role in digital transformation, ensuring service delivery agility, and optimizing cloud environments for industries such as banking, transportation, and e-commerce.In Saudi Arabia, managed services have gained popularity among businesses looking to outsource their IT infrastructure and support functions. While this arrangement offers numerous advantages, it also brings up concerns regarding data and privacy. When a business outsources IT functions to a third-party provider, they grant access to sensitive data and confidential information. If the provider lacks proper regulation or vetting, there is a risk of data breaches, hacks, or leaks, leading to reputational damage, financial losses, and potential legal action. Ensuring the managed services provider adheres to strict data security protocols and regulations is crucial for businesses to mitigate these risks.

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Segment Overview 

This managed services market in Saudi Arabia report extensively covers market segmentation by  

Type 1.1 MDS1.2 MNS1.3 MSS1.4 MMS1.5 OthersDeployment 2.1 Cloud2.2 On premisesEnd-user 3.1 Government3.2 Financial services3.3 Healthcare3.4 Oil and gas3.5 OthersGeography 4.1 Middle East

1.1 MDS-  Managed Document Services (MDS) play a vital role in the managed services market in Saudi Arabia. MDS refer to the management of a company’s document infrastructure and processes to boost efficiency, cut operational costs, and strengthen security. By outsourcing MDS, businesses can concentrate on their key competencies while experts handle document automation, reproduction, and management requirements. MDS offer significant cost savings through Managed Print Services (MPS), which enable companies to optimize their printer, copier, scanner, and related equipment usage, leading to substantial savings. Furthermore, deploying document management systems and automating processes result in reduced print and paper waste and increased document workflow efficiency. MDS also enhance document security by implementing secure print solutions, ensuring sensitive documents remain confidential in sectors like healthcare, legal, and finance. Additionally, MDS improve document access and sharing through cloud-based storage and remote collaboration, fostering a more productive workforce and enhancing the overall customer experience. These factors are expected to fuel the growth of the MDS segment in the managed services market in Saudi Arabia during the forecast period.

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Research Analysis

The Managed Services Market in Saudi Arabia is experiencing significant growth due to the increasing adoption of remote and hybrid work models. With the shift to digital transformation, businesses are seeking strategic solutions from Managed Services Providers (MSPs) to manage their IT infrastructure, ensure continuous monitoring, and protect their digital realm from cyber threats. Subscription-based models are becoming increasingly popular, allowing businesses to access advanced digital technologies, collaboration tools, and a skilled workforce without the need for large upfront investments. MSPs offer cybersecurity professionals to safeguard against data breaches, cyberattacks, and data protection concerns. The Internet of Things (IoT) and mobile technologies are expanding the attack surface, necessitating network security, cloud security, endpoint security, application security, and telecommunications. MSPs provide threat monitoring and incident response services to help businesses stay ahead of cyber threats and mitigate risks. Digital transformation brings opportunities but also challenges, such as data breaches and cyberattacks. MSPs offer strategic solutions to help businesses navigate these challenges and leverage digital technologies to enhance their operations and competitiveness.

Market Research Overview

The Managed Services Market in Saudi Arabia is witnessing significant growth due to the increasing adoption of remote work and hybrid work models, fueled by the widespread use of collaboration tools. Outsourcing IT infrastructure management to Managed Services Providers (MSPs) has become a strategic solution for businesses seeking to optimize their operations and focus on core competencies. In the digital realm, cloud computing is a major driver, with Managed Cloud Services offering continuous monitoring, subscription-based models, and proactive security measures. Cybersecurity is a top priority, with Managed Security Services providing solutions for vulnerability management, risk and compliance, threat detection, and incident response. MSPs offer a range of services, from Managed Infrastructure and Managed Communications to Managed Mobility and Managed Network. The market caters to various industries, including IT and telecommunication, entertainment and media, banking, transportation, and healthcare, among others. The Managed Services Market in Saudi Arabia is characterized by its agility, with MSPs delivering services on-premises and in the cloud, catering to the unique needs of large enterprises and SMEs. The market is also driven by the increasing importance of cybersecurity, with cyber threats and data breaches a major concern for businesses in the digital economy. MSPs provide technical security services, including firewall management, log management, and endpoint security, as well as development platforms and customized customer experiences. Strategic alliances and regulatory standards are also shaping the market, with industry-specific solutions and ITES becoming increasingly important. The Managed Services Market in Saudi Arabia is expected to continue growing, driven by the increasing adoption of digital technologies, the need for cybersecurity professionals, and the importance of proactive security measures in the face of cyberattacks and cybersecurity awareness. The market is also being shaped by the adoption of artificial intelligence and automation tools, hybrid security services, and the optimization of cloud environments.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeMDSMNSMSSMMSOthersDeploymentCloudOn PremisesEnd-userGovernmentFinancial ServicesHealthcareOil And GasOthersGeographyMiddle East

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Bit Digital, Inc. Secures Site for New Tier 3 Data Center to Support Cerebras Colocation Contract

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April 11, 2025

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NEW YORK, April 11, 2025 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”) announced today that it has secured the rights to a new data center site in Saint-Jérôme, Québec (“MTL-3“), which is under development and will support the previously announced 5MW colocation agreement with Cerebras Systems (“Cerebras”), a leader in generative AI infrastructure.

The facility spans approximately 202,000 square feet on 7.7 acres and is being developed to support current contracted capacity, with future expansion potential subject to utility approvals. The transaction was executed under a lease-to-own structure, which includes a fixed-price purchase option exercisable within 12 months. The lease term is 20 years, with two 5-year extension options.

The project is being delivered through WhiteFiber, Bit Digital’s high-performance computing platform. The facility is being retrofitted to Tier 3 standards, with development costs expected to total approximately CAD $55 million (approximately $40MM USD), and a targeted go-live date of July 2025.

“This milestone represents continued momentum in our strategy to deliver purpose-built AI infrastructure at scale,” said Sam Tabar, CEO of Bit Digital. “Speed to market is a key differentiator in the AI infrastructure space, and this site reflects our ability to mobilize and deliver capacity on accelerated timelines. We’re proud to advance our partnership with Cerebras while expanding our data center footprint in the greater Montréal region, a growing hub for AI innovation.”

Cerebras has contracted for 5MW (IT load) of built-to-suit infrastructure under a five-year colocation agreement announced in February 2025. Under the terms of the agreement, Cerebras holds a right of first refusal (ROFR) for any additional megawatt capacity that becomes available at the site.

About Bit Digital

Bit Digital, Inc. is a global platform for high-performance computing (“HPC”) infrastructure and digital asset production headquartered in New York City. The Company’s HPC business operates under the WhiteFiber Inc. (“WhiteFiber”) brand. Our operations are located in the US, Canada, and Iceland. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com, or follow us on LinkedIn or X.

Investor Notice

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 (Annual Report). Notwithstanding the fact that Bit Digital Inc. has not conducted operations in the PRC since September 30, 2021 we have previously disclosed under Risk Factors in our Annual Report: “We may be subject to fines and penalties for any noncompliance with or any liabilities in our former business in China in a certain period from now on.” Although the statute of limitations for non-compliance by our former business in the PRC is generally two years and the Company has been out of the PRC, for more than two years, the Authority may still find its prior bitcoin mining operations involved a threat to financial security. In such event, the two-year period would be extended to five years. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or bitcoin hash rate may also materially affect the future performance of Bit Digital’s production of bitcoin. Actual operating results will vary depending on many factors including network difficulty rate, total hash rate of the network, the operations of our facilities, the status of our miners, and other factors. See “Safe Harbor Statement” below.

Safe Harbor Statement

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

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SOURCE Bit Digital, Inc.

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Cipriani & Werner Cybersecurity Welcomes Five Attorneys

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54 minutes ago

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April 11, 2025

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PHILADELPHIA, April 11, 2025 /PRNewswire/ — Cipriani & Werner, P.C. is pleased to announce the addition of five attorneys to the firm’s Cybersecurity Breach & Litigation Practice Group. Joining the firm’s Philadelphia office are Kevin Mekler (Partner), James Cope (Partner), Tara Gill Nalencz (Partner), Jack Dunn (Associate), and Morgan Valeo (Associate).

“We are excited to continue investing in great lawyers to add to Cipriani & Werner’s already deep bench,” said John Loyal, co-chair of the firm’s Cybersecurity practice. “Each is a seasoned counselor who will slide seamlessly into the wonderful team we have built.”

Kevin Mekler has broad experience with all aspects of cybersecurity incident response and guides organizations of all shapes and sizes through the process, from initial triage and investigation through performance of legal and regulatory obligations the organizations may have.James Cope has been on the front lines of breach incident response for nearly a decade. He manages all aspects of data privacy and cyber security matters from start to finish. He has helped hundreds of entities around the country assess and respond to all types of data privacy and cybersecurity issues.Tara Gill Nalencz is a trial lawyer skilled in handling complex litigation from inception through to verdict and appeal. She defends clients in high-exposure, multifaceted matters, including privacy class actions. She provides crisis management counsel and response strategies for critical incidents and emergencies.Jack Dunn comes to Cipriani & Werner from Travelers where he coordinated and supported incident response between insureds, breach counsel, and forensic vendors for ransomware matters, social engineering frauds, business email compromises, and third-party data breaches.Morgan Valeo is a breach coach for clients victimized by data privacy and security incidents, such as a business email compromise, ransomware, wire transfer fraud and other network intrusions. She routinely works with external and third-party forensic investigation firms to determine the nature and scope of the incident and then to identify the legal, regulatory, and contractual obligations the victim organization has stemming from the incident.

In just five years, Cipriani & Werner’s Cybersecurity Breach & Litigation Practice Group has grown to over seventy team members. The group is the firm’s fastest growing practice group and is one of the go-to firms for data security incidents in the United States. 

About Cipriani & Werner, P.C.

Cipriani & Werner’s Cybersecurity team helps clients with all aspects of data breach preparation and response. Reach the Cyber team 24/7 by contacting 1-833-63-CYBER or cwcyber@c-wlaw.com. Cipriani & Werner is a multidisciplinary law firm with more than two hundred professionals in eighteen offices serving a global client base.

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SOURCE Cipriani & Werner, P.C.

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DeepL Named to Forbes’s AI 50 List for Second Consecutive Year

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April 11, 2025

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Trusted by 200,000+ businesses worldwide, DeepL recognized as a leader in AI-powered translation and writing solutions

NEW YORK, April 11, 2025 /PRNewswire/ — DeepL, a leading global Language AI company, has been named to Forbes’ 2025 AI 50 list for the second year in a row, which spotlights the most promising companies applying artificial intelligence to solve real-world challenges across industries. Compiled in partnership with Sequoia Capital and Meritech Capital, this year’s list was one of the most competitive yet, with Forbes reviewing over 1,860 submissions.

“DeepL being named to the Forbes AI 50 list for the second year running is a huge honor,” said Jarek Kutylowski.

“Being named to the Forbes AI 50 list for the second year running is a huge honor,” said Jarek Kutylowski, CEO and Founder, DeepL. “This recognition reflects the very real impact that DeepL’s language AI platform is driving for businesses and professionals around the world – helping them scale and collaborate more effectively across languages and markets. It also underscores our commitment to staying ahead of the curve through constant innovation. We’re proud to be a leader in Language AI and look forward to continuing to drive the category forward.”

As businesses adopt AI, they’re looking for solutions with impact and DeepL’s Language AI platform has become a critical investment for global success by tackling one of the biggest obstacles to business growth: language and communication barriers. Purpose-built for businesses and professionals, DeepL’s secure, specialized platform offers advanced translation and writing tools spanning written and spoken translation, AI-powered writing support, and a robust API, helping organizations communicate more clearly across countless use cases, from internal operations to customer support.

Today, DeepL is the preferred Language AI platform for businesses worldwide with a rapidly expanding customer network of over 200,000 businesses and governments including industry leaders Softbank, Mazda, Harvard Business Publishing, The Ifo Institute, Panasonic Connect and more. The company was recently ranked the #3 most popular AI tools globally, based on analysis by ZDNET, ahead of companies including Perplexity AI, Google Translate, Gemini, and Deepseek.

This recognition adds to DeepL’s ongoing streak of rapid growth and industry momentum. DeepL was just recognized by Fast Company as one of the Most Innovative Companies of 2025, ranking #5 in the Applied AI category. Over the past year, DeepL has also introduced several major product updates, including Clarify – an interactive feature that resolves ambiguities and offers more precise control over translations – and DeepL Voice, its first-ever live voice translation solution. DeepL also raised $300 million in new funding at a $2 billion valuation, expanded its US footprint with a new New York City tech hub, and much more.

To learn more about DeepL, visit https://www.deepl.com/en/whydeepl.

About DeepL

DeepL is on a mission to break down language barriers for businesses everywhere. Over 200,000 businesses and governments and millions of individuals across 228 global markets trust DeepL’s Language AI platform for human-like translation in both written and spoken formats, as well as natural, improved writing. Designed with enterprise security in mind, companies around the world leverage DeepL’s AI solutions that are specifically tuned for language to transform business communications, expand markets and improve productivity. Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL today has over 1,000 passionate employees and is supported by world-renowned investors including Benchmark, IVP and Index Ventures. For more information, visit deepl.com.

 

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SOURCE DeepL

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