Saudi Arabia's Tech Sector Poised to Reach $27.5bn by 2025

The burgeoning Information Technology (IT) and Emerging Technology (ET) sectors in Saudi Arabia are set to soar to unprecedented heights, with market predictions pointing to a combined worth of SR103 billion ($27.5 billion) by 2025. These compelling statistics were unveiled at the prestigious Digital Technology Forum 2023, a groundbreaking event hosted on October 18, under the auspices of the Communications, Space, and Technology Commission (CST).
At the Digital Technology Forum 2023, the CST presented an impressive growth trajectory for Saudi Arabia's IT and ET markets, which had already reached SR81 billion ($21.6 billion) in 2022. This upward trend is projected to escalate further, with market experts forecasting an impressive SR103 billion ($27.5 billion) valuation by the year 2025. Digital transformation agencies like Digital Gravity can help you become a part of this thriving IT sector and reap staggering revenues.
The forum also served as a platform to highlight the remarkable achievements within the technology sector. Notable mentions include the successful listing of 18 tech companies on the stock market and the substantial growth of the "Manassa Tech" platform, which now boasts registration from over 1,000 tech companies. Moreover, the platform features a diverse portfolio of more than 150 locally developed tech products.
These revelations underscore Saudi Arabia's pivotal role in the global technology landscape and its unwavering commitment to technological advancement. As the IT and ET markets continue to flourish, Saudi Arabia is poised to make significant strides in the digital age, cementing its position as a key player in the world of technology and innovation.
The highly acclaimed Digital Technology Forum 2023, held under the esteemed patronage of Minister of Communications and Information Technology and CST Board Chairman, Abdullah bin Amer Alswaha, was a resounding success. The forum spotlighted the vast opportunities within the software market and its pivotal role in driving digital transformation across diverse sectors. This exceptional event catalyzed the evolution of business models within the digital economy and showcased key figures in the ever-evolving technology sector.
The forum unveiled a bright and promising future for the software market, boasting a remarkable compound annual growth rate (CAGR) of up to 11 percent. This impressive growth can be attributed to CST's concerted efforts to enhance local tech products' efficiency. These efforts have not only resulted in local tech products being featured in renowned global reports, such as the Gartner platform and the IDC report but have also led to the recognition of 20 local tech products. This recognition is a testament to the maturation and growth of the technology sector within the Kingdom.
The Digital Technology Forum 2023 has played a pivotal role in driving innovation, nurturing local talent, and further solidifying Saudi Arabia's standing as a leader in the global technology landscape.
The third installment of this renowned forum ushered in a wave of new initiatives and programs that promise to revolutionize the tech landscape. Notably, the event also marked the unveiling of tech companies proudly joining the "Saudi Tech" membership, a prestigious association dedicated to championing local tech products and expanding their domestic and international influence.
In a bid to address pressing technical challenges, the forum introduced the innovative Low Code Programming Challenge. This forward-thinking competition harnesses the power of low-code development platforms and tools, enabling participants to craft software solutions, applications, and websites, all without the need for traditional programming expertise.
At this year's forum, distinguished technology experts, along with CST Governor Dr. Mohammad bin Saud Altamimi in attendance, took center stage. The event boasted an impressive lineup, featuring five in-depth panel discussions and three insightful presentations. These sessions explored a wide range of topics, including the opportunities within the Saudi Arabian software market, its profound influence on the advancement of the digital economy, and the future prospects of software, both at the local and global levels.
Digital Gravity offers a unique gateway for businesses in Saudi Arabia to actively participate in the flourishing Saudi tech sector through its transformative digital services. Our tailored digital transformation solutions are designed to align businesses with the ever-evolving tech landscape, ensuring they not only keep pace but also excel in this dynamic environment. For more information regarding our service visit: https://www.digitalgravity.ae/
By harnessing our expertise in digital marketing [https://www.digitalgravity.ae/services/digital-marketing-agency/], web design, development, and mobile app solutions [https://www.digitalgravity.ae/services/mobile-app-development-dubai/], businesses can enhance their online presence, engage their target audience, and navigate the digital ecosystem with confidence. With Digital Gravity as a partner, companies can embrace innovation, unlock new opportunities, and become integral players in the thriving Saudi tech sector, driving progress and growth in the digital age.

Office M-13, The Curve Building, Sheikh Zayed Road, Dubai, UAE
Sheikh Zayed Road

Digital Gravity is the foremost digital marketing, web design, and development, as well as mobile app development agency in Dubai. With a passion for innovation and a commitment to excellence, we empower businesses to thrive in the digital landscape. Our expert team combines creative prowess with technical expertise to deliver cutting-edge solutions tailored to your unique needs. We pride ourselves on our ability to craft compelling websites, execute data-driven marketing strategies, and create mobile apps that redefine user experiences. At Digital Gravity, we are your partners in success, driving growth and brand recognition in the ever-evolving world of digital technology.

This release was published on openPR.