Reports
Sale
Saudi Arabia ICT Market Size, Share, Forecast, Analysis: By Type: Hardware, Software, IT and Infrastructure Services, Telecommunication Services; By Enterprise Size: Small and Medium Enterprises, Large Enterprises; By Industry Vertical: BFSI, IT and Telecom, Government, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Saudi Arabia ICT Market Size
The Saudi Arabia ICT market reached approximately USD 44.69 billion in 2023. The market is projected to grow at a CAGR of 9.1% between 2024 and 2032, reaching a value of around USD 97.87 billion by 2032.
| Saudi Arabia ICT Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 44.69 |
| Market Size 2032 | USD Billion | 97.87 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 9.1% |
| CAGR 2024-2032 - Market by Enterprise Size | Small and Medium Enterprises | 9.4% |
| CAGR 2024-2032 - Market by Industry Vertical | Retail and E-Commerce | 10.4% |
| CAGR 2024-2032 - Market by Region | Riyadh | 10.3% |
| 2023 Market Share by Region | Riyadh | 24.3% |
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 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Hardware
- Network Switches
- Routers and WLAN
- Servers and Storage
- Others
- Software
- IT and Infrastructure Services
- Telecommunication Services
Market Breakup by Enterprise Size
- Small and Medium Enterprises
- Large Enterprises
| CAGR 2024-2032 - Market by | Enterprise Size |
| Small and Medium Enterprises | 9.4% |
| Large Enterprises | XX% |
Market Breakup by Industry Vertical
- BFSI
- IT and Telecom
- Government
- Retail and E-Commerce
- Manufacturing
- Energy and Utilities
- Others
| CAGR 2024-2032 - Market by | Industry Vertical |
| Retail and E-Commerce | 10.4% |
| IT and Telecom | 9.7% |
| BFSI | 9.4% |
| Government | XX% |
| Manufacturing | XX% |
| Energy and Utilities | XX% |
Market Breakup by Region
- Makkah
- Riyadh
- Madinah
- Qassim
- Eastern Province
| CAGR 2024-2032 - Market by | Region |
| Riyadh | 10.3% |
| Qassim | 9.7% |
| Makkah | XX% |
| Madinah | XX% |
| Eastern Province | XX% |
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 2024-2032, 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.
| 2023 Market Share by | Region |
| Riyadh | 24.3% |
| Makkah | XX% |
| Madinah | XX% |
| Qassim | XX% |
| Eastern Province | XX% |
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
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Enterprise Size |
|
| Breakup by Industry Vertical |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
Saudi Arabia ICT Market Report Snapshots
Saudi Arabia ICT Market Growth
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Middle East and Africa ICT Market Overview
8.1 Key Industry Highlights
8.2 Middle East and Africa ICT Historical Market (2018-2023)
8.3 Middle East and Africa ICT Market Forecast (2024-2032)
9 Saudi Arabia ICT Market Overview
9.1 Key Industry Highlights
9.2 Saudi Arabia ICT Historical Market (2018-2023)
9.3 Saudi Arabia ICT Market Forecast (2024-2032)
10 Saudi Arabia ICT Market by Type
10.1 Hardware
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Breakup by Type
10.1.3.1 Network Switches
10.1.3.2 Routers and WLAN
10.1.3.3 Servers and Storage
10.1.3.4 Others
10.2 Software
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 IT and Infrastructure Services
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Telecommunication Services
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
11 Saudi Arabia ICT Market by Enterprise Size
11.1 Small and Medium Enterprises
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Large Enterprises
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Saudi Arabia ICT Market by Industry Vertical
12.1 BFSI
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 IT and Telecom
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Government
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Retail and E-Commerce
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Manufacturing
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Energy and Utilities
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Others
13 Saudi Arabia ICT Market by Region
13.1 Makkah
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Riyadh
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Madinah
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Qassim
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Eastern Province
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 IBM Corp.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Microsoft Corp.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Cisco Systems Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Amazon.com Inc. (Amazon Web Services, Inc.)
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Palo Alto Networks Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Accenture Plc
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Dell Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 HP Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Trend Micro Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Saudi Telecom Company SJSC
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Middle East and Africa ICT Market: Key Industry Highlights, 2018 and 2032
2. Saudi Arabia ICT Market: Key Industry Highlights, 2018 and 2032
3. Saudi Arabia ICT Historical Market: Breakup by Type (USD Billion), 2018-2023
4. Saudi Arabia ICT Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. Saudi Arabia ICT Historical Market: Breakup by Enterprise Size (USD Billion), 2018-2023
6. Saudi Arabia ICT Market Forecast: Breakup by Enterprise Size (USD Billion), 2024-2032
7. Saudi Arabia ICT Historical Market: Breakup by Industry Vertical (USD Billion), 2018-2023
8. Saudi Arabia ICT Market Forecast: Breakup by Industry Vertical (USD Billion), 2024-2032
9. Saudi Arabia ICT Historical Market: Breakup by Region (USD Billion), 2018-2023
10. Saudi Arabia ICT Market Forecast: Breakup by Region (USD Billion), 2024-2032
11. Saudi Arabia ICT Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 44.69 billion.
The market is estimated to grow at a CAGR of 9.1% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around USD 97.87 billion by 2032.
The market is being driven by rapid urbanisation and government initiatives such as the “Saudi Vision 2030”.
The key trends aiding the ICT market in Saudi Arabia include the development of smart cities and the rapid adoption of technologies like 5G.
The major regions considered in the market are Makkah, Riyadh, Madinah, Qassim, and Eastern Province.
The major players in the market are 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., and Saudi Telecom Company SJSC, among others.
Purchase Options 10% off
Call us
Purchase Full Report
Datasheet
$ 2199
$1999
-
Selected Sections, One User
-
Printing Not Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Single User License
$ 3299
$2999
-
All Sections, One User
-
One Print Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Five User License
$ 4399
$3999
-
All Sections, Five Users
-
Five Prints Allowed
-
Email Delivery in PDF
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Corporate License
$ 5499
$4999
-
All Sections, Unlimited Users
-
Unlimited Prints Allowed
-
Email Delivery in PDF + Excel
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Why Expert Market Research?
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.
NEWSLETTER