(MENAFN- GlobeNewsWire - Nasdaq) Driven by government initiatives like Vision 2030, the sector, including 5G expansion and increased digital adoption, sees rapid growth, enhancing economic diversification

Dublin, Aug. 20, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia ICT Market Size and Share - Outlook Report, Forecast Trends and Growth Analysis (2025-2034)" report has been added to ResearchAndMarkets.com's offering.
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.

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 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.
• Inc. (Amazon Web Services, Inc.)
• Palo Alto Networks Inc.
• Accenture PLC
• Dell Inc.
• HP Inc.
• Trend Micro Inc.
• Saudi Telecom Company SJSC
• Others

Key Attributes

Report Attribute	Details
No. of Pages	130
Forecast Period	2025-2034
Estimated Market Value (USD) in 2025	$44.69 Billion
Forecasted Market Value (USD) by 2034	$106.77 Billion
Compound Annual Growth Rate	9.1%
Regions Covered	Saudi Arabia

Key Topics Covered
1 Executive Summary
1.1 Market Size 2024-2025
1.2 Market Growth 2025(F)-2034(F)
1.3 Key Demand Drivers
1.4 Key Players and Competitive Structure
1.5 Industry Best Practices
1.6 Recent Trends and Developments
1.7 Industry Outlook
2 Market Overview and Stakeholder Insights
2.1 Market Trends
2.2 Key Verticals
2.3 Key Regions
2.4 Supplier Power
2.5 Buyer Power
2.6 Key Market Opportunities and Risks
2.7 Key Initiatives by Stakeholders
3 Economic Summary
3.1 GDP Outlook
3.2 GDP Per Capita Growth
3.3 Inflation Trends
3.4 Democracy Index
3.5 Gross Public Debt Ratios
3.6 Balance of Payment (BoP) Position
3.7 Population Outlook
3.8 Urbanisation Trends
4 Country Risk Profiles
4.1 Country Risk
4.2 Business Climate
5 Middle East and Africa ICT Market Overview
5.1 Key Industry Highlights
5.2 Middle East and Africa ICT Historical Market (2018-2024)
5.3 Middle East and Africa ICT Market Forecast (2025-2034)
6 Saudi Arabia ICT Market Overview
6.1 Key Industry Highlights
6.2 Saudi Arabia ICT Historical Market (2018-2024)
6.3 Saudi Arabia ICT Market Forecast (2025-2034)
7 Saudi Arabia ICT Market by Type
7.1 Hardware
7.1.1 Historical Trend (2018-2024)
7.2 Software
7.3 IT and Infrastructure Services
7.4 Telecommunication Services

8 Saudi Arabia ICT Market by Enterprise Size
8.1 Small and Medium Enterprises
8.2 Large Enterprises

9 Saudi Arabia ICT Market by Industry Vertical
9.1 BFSI
9.2 IT and Telecom
9.3 Government
9.4 Retail and E-Commerce
9.5 Manufacturing
9.6 Energy and Utilities
9.7 Others

10 Saudi Arabia ICT Market by Region
10.1 Makkah
10.2 Riyadh
10.3 Madinah
10.4 Qassim
10.5 Eastern Province

11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter's Five Forces Analysis
11.2.1 Supplier's Power
11.2.2 Buyer's Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Competitive Landscape
12.1 Supplier Selection
12.2 Key Global Players
12.3 Key Regional Players
12.4 Key Player Strategies
12.5 Company Profiles
12.5.1 IBM Corp.
12.5.1.1 Company Overview
12.5.1.2 Product Portfolio
12.5.1.3 Demographic Reach and Achievements
12.5.1.4 Certifications
12.5.2 Microsoft Corp.
12.5.3 Cisco Systems Inc.
12.5.4 Inc. (Amazon Web Services, Inc.)
12.5.5 Palo Alto Networks Inc.
12.5.6 Accenture PLC
12.5.7 Dell Inc.
12.5.8 HP Inc.
12.5.9 Trend Micro Inc.
12.5.10 Saudi Telecom Company SJSC
12.5.11 Others

For more information about this report visit

About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Attachment

• Saudi Arabian ICT Market

CONTACT: CONTACT: Laura Wood,Senior Press Manager ... For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

MENAFN20082025004107003653ID1109951848