Saudi Arabia’s ICT industry valued at SAR 154 bln by 2022-end: CST

Communications, Space and Technology Commission headquarters

Saudi Arabia’s information and communications technology (ICT) market was valued at SAR 154 billion by the end of 2022, said Communications, Space and Technology Commission (CST).

The Kingdom is deemed the largest ICT market in the region, the Commission added.

Additionally, CST indicated that 600 companies were registered through its Manassa Tech. The tech startup industry also witnessed a huge boom, as the machine-to-machine communications, (M2M/IoT) subscriptions exceeded 11 million. 

Eleven firms in the field were listed in the Saudi market, while two other mobile virtual network operators (MVNOs) launched their commercial operations. 

Further, CST said it launched the first phase of its experimental Emerging Technologies Regulatory SandBox, and allowed the registration of over 87 local technology products with annual sales exceeding SAR 500 million to a clientele in 28 countries worldwide.