Riyadh - Sharikat Mubasher: The information and communication technology (ICT) market size in Saudi Arabia reached SAR 166 billion in 2023, according to recent figures released by the Communications, Space, and Technology Commission (CST) at the ICT Indicators Forum 2024.
The Saudi ICT market has registered a compound annual growth rate (CAGR) of 8% during 2018-2023.
The figures showed that the penetration rate of mobile service subscriptions for the population reached 198% last year, while the total volume of Internet of Things (IoT) M2M subscriptions registered SAR 12.6 million.
Commenting on these achievements, Sami Aldaham, Director of Internet Services Development at CST, said: “The rapid growth in the internet traffic indicates the resilience of the Saudi digital infrastructure and its flexibility in meeting the demand, as the Kingdom ranked first among the G20 countries in internet penetration.”
The 10th edition of the ICT Indicators Forum 2024 kicks off today in Riyadh, with the participation of key industry leaders and experts in Saudi Arabia.
It aims to explore emerging ICT trends, showcase financial performance insights, and present key findings from the latest ‘Saudi Internet’ report.
