Saudi Arabia’s communications and technology sector has recorded strong growth, with the market reaching a value of $48 billion in 2024, according to new data released by the Communications, Space and Technology Commission (CST). The sector has experienced a compound annual growth rate of 7.5% over the past five years.

The figures were announced during the 11th edition of the ICT Indicators Forum 2025, which brought together government officials, industry leaders, and experts to discuss key digital economy trends and sector performance.

CST General Manager of Regulations, Eng. Thamer AlKhwaiter, highlighted that Saudi Arabia’s median mobile internet speed has reached 129 Mbps, ranking it fourth among G20 nations in 2024.

Mobile telecommunications subscriptions rose to 68.2 million, reflecting an annual growth rate of 7%. He also noted that the Kingdom’s space sector recorded a market volume of $1.9 billion in 2024.

In a financial review, Al Jazira Capital’s Head of Research, Jassim AlJubran, reported that ICT-listed companies in Saudi Arabia now hold combined assets of $68 billion, with total revenues reaching $34.1 billion and a market capitalization of $113.8 billion.

CST also published the Saudi Internet Report 2024 during the forum, offering a detailed snapshot of internet use, infrastructure, and user behavior.

The report revealed that internet penetration has reached 99%, with mobile phones accounting for 99.4% of internet access. Peak usage occurred between 9–11 p.m., with Saturdays emerging as the busiest day for online activity.

E-commerce remains robust, with 93.1% of online purchases made through local websites. Additionally, 21.5% of internet users in the Kingdom reported using artificial intelligence tools and applications.

Saudi Arabia averaged 48GB of monthly mobile data use per person—three times the global average. Domain name registrations grew by 25% annually.