With the attendance of the Acting Governor of Communications and Technology Commission, CST revealed the size of the communications and technology market reaching (180B) riyals during 2024, with annual compound growth rate of 7.5% over the past five years. This announcement came during the 11th edition of the ICT Indicators Forum 2025, held in Riyadh, which was attended by elite experts and sector leaders, and featured five main presentations and a panel discussion reviewing the financial performance of the Kingdom's communications and technology sector.
The forum began with a presentation on performance indicators for the telecommunications and technology sector delivered by Eng. Thamer AlKhwaiter, General Manager of Regulations in CST. He revealed that the median mobile internet speed has reached 129 Mbps, placing the Kingdom 4th among G20 countries for 2024. Mobile telecommunications subscriptions have reached 68.2 million, with an annual growth rate of 7%. The presentation also disclosed that the Space market size in 2024 has reached approximately 7.1 B SAR.
It also featured a presentation by Mr. Ranjit Rajan, VP of Research for META at IDC, titled "Tech Transformation in Saudi Arabia in the AI Era“ where he unveiled the most notable figures related to the communications and technology market in the Kingdom, as well as the transformations occurred in Cloud Computing, artificial intelligence (AI) and other aspects.
During the forum's third presentation, Al Jazira Capital's Research Head, Mr. Jassim AlJubran delivered a comprehensive financial analysis of the sector. His presentation "ICT Sector Financial Performance in Arqaam " disclosed that the total assets of ICT listed companies in the Kingdom have reached 255B SAR, while their total revenues amounted to 128B SAR, and their market cap has reached 427B SAR.
The forum included a panel discussion examining the financial performance of the sector in Arqaam, with participation from Mr. Jassim AlJubran, Head of Research Al Jazira Capital, Mr. Mohammed Aljbali, VP of Investor Relations at Mobily, and Mr. Yazan bin Ibrahim Al-Turki, Vice President of Budgeting and Financial Planning at Etihad Atheeb Telecom Company (GO).
In a presentation titled "Mobile Communications: Realistic Indicators and Future Development Insights” Mr. Amr Hashem, Policy Director of MENA at GSMA, revealed Saudi Arabia’s leadership in mobile connectivity, and the significant progress made in accelerating 5G deployment.
The forum's final presentation, delivered by Eng. Musaab Alammar, Director - Internet Techs Development Dept. at CST, unveiled the 4th edition of the "Saudi Internet Report 2024," which addresses internet usage in the Kingdom and its growth, as well as indicators and information related to user patterns, behaviors, and preferences. The report also reviews the most used and downloaded applications, in addition to data consumption rates per individual.
Source: https://new.cst.gov.sa/en/media-center/news/N2025051201
