(MENAFN- PR Newswire) NEW YORK, March 25, 2024 /PRNewswire/ -- The global telecom market in Saudi Arabia size is estimated to grow by USD 3.06 bn from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 3.15% during the forecast period. The Saudi Arabian telecom market faces rising risks from network attacks and online security threats, undermining consumer trust and hindering growth. With digitization and increased reliance on telecom infrastructure, cybersecurity breaches can disrupt services, erode consumer confidence, and hinder adoption of new technologies. Key areas include employment potential, DoT, broadband connectivity in villages, fiberization of towers, broadband speeds, optic fiber rollouts, Internet connections, revenue realization, subscriber growth, GB wireless data, domestic market size, telephone connections, MNP requests, urban and rural telephone connections, rural tele-density, GSMA, AI, and robotics.
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![Technavio has announced its latest market research report titled Telecom Market in Saudi Arabia 2024-2028]( "Technavio has announced its latest market research report titled Telecom Market in Saudi Arabia 2024-2028")
Technavio has announced its latest market research report titled Telecom Market in Saudi Arabia 2024-2028 To understand more about this market-
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The End-user segment emerges as the fastest-growing segment in the telecom market in Saudi Arabia
The Telecom Market in Saudi Arabia experienced significant growth in 2023, with wireless communication dominating the sector. Cloud computing technologies, artificial intelligence, and the Internet of Things (IoT) drove the expansion of wireless channels. WLAN systems were rapidly deployed, enabling cellular devices in various locations, including homes, public areas, airports, and offices, to connect to the Internet. The country's telephone expansion project contributed to the growth by extending both fixed telephone lines and mobile phone lines. Overall, advanced technologies and infrastructure development fueled the dynamic telecom market in Saudi Arabia.
Commenting on the market trends, a Senior Analyst of Technavio, stated," In August 2023, Saudi Arabia's largest telecom company, Integrated Telecom Co., announced a collaboration with Oracle to drive 5G innovation in the Middle East and Africa. This technology brings faster download speeds, minimal latency, and encourages investment from enterprises in the region. Key areas of focus include employment potential, broadband connectivity,
fiberisation of towers, and revenue realization. The GSMA predicts a significant increase in subscribers, GB wireless data usage, and domestic market size. Additionally, AI and robotics are expected to play a role in this advanced telecom landscape."
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Analyst Review
The Telecom Market in Saudi Arabia is experiencing significant growth, driven by the advancement of infrastructure and the adoption of innovative technologies. Key players in the industry include telephone service providers, offering both traditional telephone services and broadband solutions. The smartphone market is thriving, with an increasing number of installed devices demanding high-speed data connectivity. The GSMA reports that the Kingdom is embracing the future with a customer inclination towards advanced technologies such as 5G, Artificial Intelligence (AI), and Robotics. Telecommunications companies like Telesat, Lightspeed, and OneWeb are investing in 5G infrastructures to meet this demand. Moreover, the global communication network is evolving, with the integration of value-added managed services and the revival of older technologies like Facsimile and Telegraphs through wired infrastructure. The Saudi Arabian Telecom Market is poised for continued growth, offering opportunities for both local and international players.
Market Overview
The Telecom market in Saudi Arabia is a significant and growing industry, with several key players making strides in the sector. Infastructure development is a major focus, with companies like 5G, Telecom Egypt, and SpaceX investing in networks and technologies. Broadband and 5G connections are becoming increasingly common, with fiber-optic and satellite providers offering high-speed services. The Saudi Communications and Information Technology Commission (SCTIC) plays a crucial role in regulating and developing the sector, promoting digital transformation and innovation. The market is also witnessing the implementation of smart city projects, which require advanced telecom infrastructure. The demand for connectivity and digital services is on the rise, driven by the increasing use of technology in various sectors, including education, healthcare, and business. The Saudi telecom market is poised for continued growth, with investments in technology and infrastructure expected to drive progress.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8
Geographic Landscape
9 Drivers, Challenges, and Trends
10
Venodr
Landscape
11
Vendor
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.
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