CST: Size of Communications, Technology Market Reaches SAR180 Billion in 2024

The Communications, Space and Technology Commission (CST) revealed that the size of the communications and technology market reached SAR180 billion in 2024, with a compound annual growth rate of 7.5% over the past five years.

The announcement was made during the 11th edition of the ICT Indicators Forum 2025, held today in Riyadh, in the presence of Acting CST Governor Eng. Haitham Al-Ohali.

The event, attended by leading experts and sector leaders, featured five key presentations along with a panel discussion reviewing the financial performance of the Kingdom’s communications and technology sector.

According to a press release issued by the CST, the forum opened with a presentation on performance indicators for the telecommunications and technology sector, delivered by CST General Manager of Regulations Eng. Thamer AlKhwaiter.

He revealed that the median mobile internet speed in the Kingdom has reached 129 Mbps, ranking the fourth among G20 countries in 2024. Mobile telecommunications subscriptions have grown to 68.2 million, with an annual growth rate of 7%.

The presentation also disclosed that the space market volume reached approximately SAR7.1 billion in 2024.

The event featured a presentation by Vice President of Research for META at IDC Ranjit Rajan, titled "Tech Transformation in Saudi Arabia in the AI Era."

He shared key figures on the Kingdom's communications and technology market, highlighting major developments in cloud computing, artificial intelligence (AI), and related sectors.

In a third presentation titled "ICT Sector Financial Performance in Arqaam," Al Jazira Capital's Head of Research Jassim AlJubran delivered a comprehensive financial analysis of the sector.

He reported that the total assets of ICT-listed companies in the Kingdom have reached SAR255 billion, with total revenues amounting to SAR128 billion and a market cap of SAR427 billion.

Meanwhile, the panel discussion examined the financial performance of the sector in Arqaam, with the participation of AlJubran, Vice President of Investor Relations at Mobily Mohammed Aljbali, and Vice President of Budgeting and Financial Planning at Etihad Atheeb Telecom Company (GO) Yazan bin Ibrahim Al-Turki.