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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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 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.*
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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.
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Australia
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+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124