Riyadh – Sharikat Mubasher: Saudi Arabia’s communications and technology market reached SAR 180 billion in 2024, growing at a 7.5% annual compound rate over the past five years.

This was revealed by the Communications, Space and Technology Commission (CST) during the ICT Indicators Forum 2025 in Riyadh.

The forum, now in its 11th edition, gathered industry leaders and experts for a series of presentations and a panel discussion reviewing the sector’s financial performance. Thamer AlKhwaiter, General Manager of Regulations in CST, highlighted that mobile internet speeds in the Kingdom reached a median of 129 Mbps, placing Saudi Arabia 4th among G20 nations. Mobile subscriptions climbed to 68.2 million, while the local space sector hit SAR 7.1 billion.

Further insights came from Ranjit Rajan, IDC’s VP of Research for META on AI and cloud trends, and from Jassim AlJubran Al Jazira Capital’s Research Head, who reported that listed ICT companies in Saudi Arabia now hold SAR 255 billion in assets, with revenues at SAR 128 billion and a market cap of SAR 427 billion.

Additional sessions addressed 5G rollout progress, user behavior trends, and key findings from the Saudi Internet Report 2024, reinforcing the Kingdom’s growing digital footprint and regional tech leadership.