May 13, 2025 - 21:00
The Saudi Arabia Enterprise ICT Market is set to experience significant growth, projected to expand from USD 12.1 billion in 2024 to an impressive USD 22.84 billion by 2030. This growth represents a compound annual growth rate (CAGR) of 11%. The surge in market size is largely attributed to the ambitious Vision 2030 initiative, which aims to diversify the economy and reduce dependence on oil revenue.
Key drivers of this expansion include a robust digital transformation across various sectors, increased investments in technology, and the implementation of smart city initiatives. Furthermore, the integration of emerging technologies such as artificial intelligence (AI) and the Internet of Things (IoT) is poised to reshape the ICT landscape in the region.
As businesses and government entities alike embrace these advancements, the competitive landscape is expected to evolve, presenting new opportunities for both local and international players in the market. The future of the Saudi Arabian Enterprise ICT Market looks promising, with a clear trajectory toward innovation and growth.
