The Saudi Arabia ICT market reached approximately USD 44.69 Billion in 2024. The market is projected to grow at a CAGR of 9.10% between 2025 and 2034, reaching a value of around USD 106.77 Billion by 2034.
Various ambitious programmes introduced by the government of Saudi Arabia are also supporting the market. For instance, 'Vision 2030' is reshaping the telecom sector in Saudi Arabia by aiming to reduce the country's dependence on oil and diversify its economy. This initiative recognises the crucial role of the telecom sector in enhancing quality of life and driving economic progress. It seeks to enhance competition, elevate service quality, and amplify the industry's GDP impact. Furthermore, the programme envisions leveraging the telecom sector as a catalyst for the digital evolution of various sectors, such as healthcare, education, and tourism, among others.
Saudi Arabia ICT Market Outlook
- As of March 2024, with a valuation of more than $40.9 billion and accounting for 4.1% of the GDP, the market stands as the largest and most rapidly expanding in the Middle East and North Africa region.
- In 2023, government spending on ICT in Saudi Arabia increased by 20% compared to the previous year, amounting to SR 41.87 billion ($11.16 billion).
- As per the Saudi Arabian Ministry of Commerce, between October to December 2023, issuance of cloud computing permits surged by 40% y-o-y, reaching 1,759.
Saudi Arabia ICT Market Growth
The telecommunications sector is the backbone of the Saudi Arabian economy, with a predicted CAGR of 3.92% until 2029. The Kingdom has the biggest telecom market in the Middle East and is expected to continue growing steadily. The Saudi Arabian government's strategic push and the increased demand for fast internet are driving this growth. Another notable trend in the market is the swift adoption of 5G technology, with multiple market participants investing in its expansion across the region. According to GSMA Intelligence data, 78% of Saudi Arabia's population has access to 5G coverage as of April 2022, up from 43% two years prior, leading to the expansion of the market in the country.Various ambitious programmes introduced by the government of Saudi Arabia are also supporting the market. For instance, 'Vision 2030' is reshaping the telecom sector in Saudi Arabia by aiming to reduce the country's dependence on oil and diversify its economy. This initiative recognises the crucial role of the telecom sector in enhancing quality of life and driving economic progress. It seeks to enhance competition, elevate service quality, and amplify the industry's GDP impact. Furthermore, the programme envisions leveraging the telecom sector as a catalyst for the digital evolution of various sectors, such as healthcare, education, and tourism, among others.
Saudi Arabia ICT Industry Segmentation
“Saudi Arabia ICT Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:Market Breakup by Type:
- Hardware_x000D_ _x000D_ Network Switches _x000D_ Routers and WLAN _x000D_ Servers and Storage _x000D_ Others _x000D_ _x000D_
- Hardware_x000D_ _x000D_ Network Switches _x000D_ Routers and WLAN _x000D_ Servers and Storage _x000D_ Others _x000D_ _x000D_
- Software
- Software
- IT and Infrastructure Services
- Telecommunication Services
Market Breakup by Enterprise Size:
- Small and Medium Enterprises
- Large Enterprises
Market Breakup by Industry Vertical:
- BFSI
- IT and Telecom
- Government
- Retail and E-Commerce
- Manufacturing
- Energy and Utilities
- Others
Market Breakup by Region:
- Makkah
- Riyadh
- Madinah
- Qassim
- Eastern Province
Saudi Arabia ICT Market Share
Based on industry vertical, the market is divided into BFSI, IT and telecom, government, retail and e-commerce, manufacturing, and energy and utilities, among others. Over the forecast period of 2025-2034, the BFSI sector is assessed to grow at a CAGR of 9.4%. Information and Communication Technology (ICT) is crucial in the advancement and development of banking and financial operations. It is not only necessary for meeting customer needs but also for gaining a competitive edge. ICT enables bankers to offer a variety of services to customers in an efficient, cost-effective, convenient, compliant, and organised manner.Leading Companies in the Saudi Arabia ICT Market
Major players are investing heavily in technological upgrades to gain a competitive edge in the market.- IBM Corp.
- Microsoft Corp.
- Cisco Systems Inc.
- Amazon.com Inc. (Amazon Web Services, Inc.)
- Palo Alto Networks Inc.
- Accenture Plc
- Dell Inc.
- HP Inc.
- Trend Micro Inc.
- Saudi Telecom Company SJSC
- Others
Saudi Arabia ICT Market Report Snapshots
Saudi Arabia ICT Market Size
Saudi Arabia ICT Market Growth
Saudi Arabia ICT Market Share
Saudi Arabia ICT Companies
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Middle East and Africa ICT Market Overview
6 Saudi Arabia ICT Market Overview
7 Saudi Arabia ICT Market by Type
8 Saudi Arabia ICT Market by Enterprise Size
9 Saudi Arabia ICT Market by Industry Vertical
10 Saudi Arabia ICT Market by Region
11 Market Dynamics
12 Competitive Landscape
Companies Mentioned
- IBM Corp.
- Microsoft Corp.
- Cisco Systems Inc.
- Amazon.com Inc. (Amazon Web Services, Inc.)
- Palo Alto Networks Inc.
- Accenture Plc
- Dell Inc.
- HP Inc.
- Trend Micro Inc.
- Saudi Telecom Company SJSC
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 130 |
| Published | May 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value ( USD | $ 44.69 Billion |
| Forecasted Market Value ( USD | $ 106.77 Billion |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | Saudi Arabia |
| No. of Companies Mentioned | 10 |
