Growth of Saudi Arabia’s Telecommunications and Technology Market: Insights from the 11th Forum on Telecommunications and Technology Indicators
The telecommunications and technology market in Saudi Arabia is projected to reach an impressive 180 billion Riyals by 2024, reflecting a compound annual growth rate (CAGR) of 7.5% over the past five years. This significant data was revealed by the Communications, Space, and Technology Authority during the 11th Forum on Telecommunications and Technology Indicators 2025, held in Riyadh. The event was attended by acting Governor of the Authority, Engineer Haitham bin Abdulrahman Al-Ohaly, along with a distinguished group of industry experts and leaders.
The forum kicked off with a presentation outlining key performance indicators for the telecommunications sector. Engineer Thamer Al-Khowaitar, the General Director of Regulations at the Authority, unveiled that Saudi Arabia has achieved a mobile internet speed median of 129 megabits per second, placing the Kingdom fourth among the G20 nations in 2024. Furthermore, the number of mobile telecommunications subscriptions reached 68.2 million, indicating a 7% annual growth rate. Al-Khowaitar also highlighted the burgeoning space market, expected to reach a substantial 7.1 billion Riyals in 2024.
A noteworthy segment of the forum featured a presentation by Ranjit Rajan, Vice President for Research at IDC covering the Middle East, Turkey, and Africa. His talk focused on "Technological Transformation in Saudi Arabia in the Age of Artificial Intelligence," where he shared critical figures related to the telecommunications and technology sectors, as well as discussing transformations involving cloud computing, AI, and other pivotal technologies.
In a third presentation titled “Sector Financial Performance in Numbers,” Jassim Al-Jabran, Head of Research at Al-Jazeera Capital, reported that the total assets of listed companies in the telecommunications and technology fields have reached approximately 255 billion Riyals. The cumulative revenue from these sectors was unveiled to be around 128 billion Riyals, with the market capitalization of listed telecommunications and technology firms standing at nearly 427 billion Riyals.
The forum also facilitated a panel discussion focusing on financial performance, featuring insights from Jassim Al-Jabran, along with Mohammed Al-Jabali, Vice President for Investor Relations at Mobily, and Yazan Al-Turki, Vice President for Budgeting and Financial Planning at Etihad Atheeb Telecommunications. This interactive session provided a platform for examining the sector’s fiscal health and future prospects.
Another significant moment arose with a presentation titled "Mobile Telecommunications: Real Indicators and Future Development Visions," delivered by Amr Hashem, Policy Director for the Middle East and North Africa at the Global System for Mobile Communications Association (GSMA). Hashem expounded on Saudi Arabia’s leadership in mobile communications, detailing the considerable advancements made in the deployment of 5G networks across the nation.
The final presentation of the forum was conducted by Engineer Musab Al-Amar, Director of Internet Technologies Development at the Authority. He introduced the fourth edition of the “Saudi Internet Report 2024,” which provides a comprehensive overview of internet usage trends in the Kingdom, highlighting growth metrics, user behaviors, preferences, as well as the most widely used and downloaded applications. Additionally, the report sheds light on individual data consumption rates, offering a clear picture of how digital habits are evolving in Saudi society.
In summary, the 11th Forum on Telecommunications and Technology Indicators showcased the dynamic and rapidly expanding landscape of the telecommunications and technology sectors in Saudi Arabia. With robust growth forecasts and impressive advancements in mobile and internet technologies, the Kingdom is poised to continue its ascent as a regional leader in these fields, driven by innovation and strategic investments in infrastructure.
