In 2023, the ICT Gross Value Added in Saudi Arabia stood at 182.09 Billion Saudi Riyals. The data post-2023 indicates a forecasted growth in ICT Gross Value Added: 186.92 Billion in 2024, 191.65 Billion in 2025, 196.29 Billion in 2026, and 200.84 Billion in 2027.
Year-on-year variations are as follows:
- 2023-2024: 2.66%
- 2024-2025: 2.53%
- 2025-2026: 2.42%
- 2026-2027: 2.31%
The average annual growth rate (CAGR) over the five-year period from 2023 to 2027 is approximately 2.48%.
Future trends to watch for include increased investment in digital infrastructure, advancements in 5G technology, and government initiatives to foster innovation in the ICT sector. These factors are likely to continue to drive the sector’s growth in Saudi Arabia.
