Saudi Arabia’s information and communication technology (ICT) market reached SAR 180 billion in 2024, marking a compound annual growth rate (CAGR) of 7.5% over the past five years, according to the Communications, Space, and Technology Commission (CST) at the ICT Indicators Forum 2025.
Thamer Al-Khwaiter, Director General of Regulations at CST, reported that the median mobile internet speed in the Kingdom reached 129 Mbps in 2024, ranking Saudi Arabia fourth among G20 countries. Additionally, the number of mobile telecom subscriptions in Saudi Arabia has risen to 68.2 million, growing at an annual rate of 7%. The space sector also saw significant growth, with a market size of approximately SAR 7.1 billion in 2024.
Jassim Al-Jubran, Head of Research at AlJazira Capital, shared that the total assets of listed companies in Saudi Arabia’s telecom and technology sectors amounted to SAR 255 billion, with total revenues of SAR 128 billion. The market capitalization of these listed companies is estimated to be around SAR 427 billion, further underscoring the Kingdom’s growing position in the global ICT and technology market.
