Saudi Arabia Leads GCC Telecommunications: A Deep Dive into Market Share and Future Projections

🔝 Saudi Arabia accounts for 41% of the total revenue of the GCC’sa telecommunications and  Information Technology sector and 37% of the total assets. The Kingdom of Saudi Arabia captured 41% of the total domestic revenues of the telecommunications sector in the GCC countries, with revenues of listed companies in the Saudi Market within the sector amounting to about 119 billion riyals (31.73 billion) in 2023, representing a growth rate of more than 10% compared to 2022.

🔝 The Kingdom also held 34% of the total sector assets valued at 250 billion riyals (66.66 billion) by the end of 2023, with a growth rate of about 12% compared to 2022.

🔝 The market value of companies listed in the telecommunications and information technology sector in Saudi Arabia amounted to approximately 379.2 billion riyals (101.12 billion) according to the closing on April 21.

💡 Regarding future projections for the next two years, several key trends are expected in Saudi Arabia’s telecommunications sector:

🔅 It is anticipated that the revenues of the telecommunications sector will grow by 5.9% in 2024, reaching 105.8 billion riyals (28.21 billion).

🔅 In 2025, the revenue growth is expected to continue at a rate of 4.6%, bringing the total to 110.6 billion riyals (29.49 billion).

🔆 Concerning net profits, a decrease of about 5.3% is expected in 2024, dropping to 16.1 billion riyals (4.29 billion).

🔆 However, in 2025, net profits are forecasted to grow by more than 10%, reaching 17.8 billion riyals (4.74 billion).