Riyadh – Sharikat Mubasher: Saudi Arabia’s IT and ET markets are expected to reach a combined SAR 103 billion ($27.5 billion) by 2025, according to numbers presented at the Kingdom’s Digital Technology Forum.

The Communications, Space and Technology Commission (CST) presented, at the Digital Technology Forum 2023, held on October 18, the impressive numbers attained by IT and ET in Saudi Arabia market, which reached SAR 81 billion ($21.6 billion) in 2022 and is expected to reach SAR 103 billion ($27.5 billion) by 2025.

Further, the software market is forecast to see a compound annual growth rate (CAGR) of up to 11%.

It is worth noting that a total of 18 tech companies have been listed on the local stock market, and over 1,000 tech companies registered on the “Manassa Tech” platform, with over 150 local products.