Saudi news

154 billion riyals, the size of the communications and information technology market in Saudi Arabia by the end of 2022

The Saudi Communications, Space and Technology Commission announced that the volume of the communications and information technology market in the Kingdom amounted to 154 billion riyals at the end of 2022, indicating that Saudi Arabia is thus one of the largest communications and information technology markets in the region.

The authority stated that the number of companies registered through its “Tech platform” has reached 600 companies, pointing out that the field of emerging technologies has witnessed a huge boom, with the number of Internet of Things “M2M” subscriptions reaching more than 11 million subscriptions, according to what was reported by the Saudi Press Agency. “SPA”.

The Communications Authority added that 11 companies have been listed in the financial market, while two additional companies have been commercially launched to provide virtual mobile communication services (MVNO).

It indicated that an experimental regulatory environment specialized in emerging technologies was also launched, and more than 87 local technical products with annual sales exceeding 500 million riyals were registered to customers and distributors in 28 countries.

Within its organizational roles, the Authority launched the Digital Regulations Academy to work on developing human cadres in the field of digital regulations, and to contribute to enabling the Kingdom’s transformation into a digital society and strengthening participatory regulation, as 19 private and government agencies benefited from it, through 7 training programs set up by the Academy.

The authority’s institutional performance was distinguished by winning many awards and certificates during the past year, by obtaining four certificates of excellence at the World Summit on the Information Society, and winning the Gulf Cooperation Council Government Award for Human Resources for the category of excellence in talent management among 200 participating entities, and winning the award for the best project management office in the Kingdom. The Authority was also among the top five government agencies in the Kingdom in measuring government digital transformation.

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