Saudi tech market to hit $27.5bn by 2025

user icon
KHOLOUD.HUSSEIN
calender icon
Oct 19, 2023
article image

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.


Share

Related News

Misk City concludes 20-year solar agreement with Emerge
News
Calendar Icon
July 23, 2025
Misk City concludes 20-year solar agreement with Emerge
Read More
Saudi GEA launches “Entertainment Partner” program for startups
News
Calendar Icon
July 23, 2025
Saudi GEA launches “Entertainment Partner” program for startups
Read More
Governata launches as Saudi Arabia’s 1st Arabic AI data governance platform
News
Calendar Icon
July 22, 2025
Governata launches as Saudi Arabia’s 1st Arabic AI data governance platform
Read More
Foreign startup licenses in Kingdom reach 550, up 118% in a Year
News
Calendar Icon
July 22, 2025
Foreign startup licenses in Kingdom reach 550, up 118% in a Year
Read More
IsDB Institute, MBSC launch program to shape future entrepreneurs
News
Calendar Icon
July 22, 2025
IsDB Institute, MBSC launch program to shape future entrepreneurs
Read More
Monsha’at kicks off ‘Media and Marketing Week’ in 4 cities
News
Calendar Icon
July 21, 2025
Monsha’at kicks off ‘Media and Marketing Week’ in 4 cities
Read More
ACWA Power inks several deals to export green hydrogen to Europe
News
Calendar Icon
July 20, 2025
ACWA Power inks several deals to export green hydrogen to Europe
Read More
Air Arabia Consortium wins bid to launch Saudi budget airline
News
Calendar Icon
July 20, 2025
Air Arabia Consortium wins bid to launch Saudi budget airline
Read More
Saudia introduces ‘Cash + Miles’ payment option on AlFursan
News
Calendar Icon
July 20, 2025
Saudia introduces ‘Cash + Miles’ payment option on AlFursan
Read More
Al Arabiya Network completes full relocation to Riyadh
News
Calendar Icon
July 20, 2025
Al Arabiya Network completes full relocation to Riyadh
Read More