In 2024, the growth of the real gross domestic product (GDP) in Saudi Arabia stood at about 1.31 percent. Between 1980 and 2024, the figure dropped by approximately 4.49 percentage points, though the decline followed an uneven course rather than a steady trajectory. From 2024 to 2030, the growth will rise by around 1.97 percentage points, showing an overall upward trend with periodic ups and downs.This indicator describes the annual change in the gross domestic product at constant prices, expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.

The timeline shows the gross domestic product of Saudi Arabia from 1987 to 2024, with projections up until 2030. In 2024, Saudi Arabia's gross domestic product (GDP) amounted to approximately ******** billion U.S. dollars.

Saudi Arabia: Economic growth forecast: The latest value from 2030 is 3.28 percent, an increase from 3.18 percent in 2029. In comparison, the world average is 3.25 percent, based on data from 182 countries. Historically, the average for Saudi Arabia from 1980 to 2030 is 2.25 percent. The minimum value, -16.11 percent, was reached in 1982 while the maximum of 10.99 percent was recorded in 2011.

The gross domestic product (GDP) per capita in Saudi Arabia amounted to 30,750 U.S. dollars in 2024. From 1980 to 2024, the GDP per capita rose by 11,210 U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2030, the GDP per capita will rise by 3,820 U.S. dollars, showing an overall upward trend with periodic ups and downs.This indicator describes the gross domestic product per capita at current prices. Thereby, the gross domestic product was first converted from national currency to U.S. dollars at current exchange rates and then divided by the total population. The gross domestic product is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).

The Gross Domestic Product (GDP) in Saudi Arabia was worth 1237.53 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Saudi Arabia represents 1.17 percent of the world economy. This dataset provides - Saudi Arabia GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Saudi Arabia expanded 3.90 percent in the second quarter of 2025 over the same quarter of the previous year. This dataset provides the latest reported value for - Saudi Arabia GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Saudi Arabia: Current account balance forecast, percent of GDP: The latest value from 2030 is -3.43 percent, a decline from -3.34 percent in 2029. In comparison, the world average is -0.96 percent, based on data from 181 countries. Historically, the average for Saudi Arabia from 1980 to 2030 is 2.98 percent. The minimum value, -20.83 percent, was reached in 1991 while the maximum of 27.42 percent was recorded in 2005.

Graph and download economic data for Projection of General government gross debt for Saudi Arabia (GGGDTPSAA188N) from 2025 to 2030 about Saudi Arabia, projection, gross, debt, and government.

By 2030, Artificial Intelligence (AI) was forecast to contribute around *** billion U.S. dollars to the Middle East economy. Saudi Arabia was expected to gain the most from AI, at around *** billion U.S. dollars. In relative terms, the United Arab Emirates was forecast to witness the largest impact, estimated at around ** percent of the country's GDP in 2030.

By 2030, artificial intelligence was expected to contribute around ** percent to the gross domestic product (GDP) of Morocco. In comparison, the projected AI contribution to the economy of Saudi Arabia by 2030 was forecast at approximately **** percent of its GDP. Saudi Arabia’s AI landscape The Kingdom's national AI strategy aims to achieve global leadership and establish a data-driven economy. AI contribution to the GDP of Saudi Arabia was forecast to reach approximately *** billion U.S. dollars by 2030, making the Kingdom the largest anticipated collector of the AI gains in the region. Funds received by Saudi AI companies reached *** billion U.S. dollars in 2023. Nevertheless, the number of AI specialists in the country remained lower than in the neighboring United Arab Emirates, which had around ** percent more domain specialists in 2024. AI in MENA The Middle East and North Africa hold tremendous potential for AI expansion and economic growth, with market forecasts set to reach approximately ** billion U.S. dollars by 2030. At an organizational level, businesses are projected to double their return on investment (ROI) for applications like cloud-generative AI implementations. AI is anticipated to also contribute to the daily work of professionals, primarily helping with product creation, via providing intelligent interfaces, and by reducing administrative tasks. With the growth trends in data center investment and IT spending, AI adoption in MENA is expected to free up time for higher-level tasks like strategic thinking or problem-solving and considerably increase productivity.

Saudi Arabia: Investment forecast: The latest value from 2030 is 32.49 percent, an increase from 32.35 percent in 2029. In comparison, the world average is 24.06 percent, based on data from 164 countries. Historically, the average for Saudi Arabia from 1980 to 2030 is 25.27 percent. The minimum value, 15.68 percent, was reached in 1990 while the maximum of 34.35 percent was recorded in 1983.

In 2030, the retail sector was expected to gain the most by the contribution of artificial intelligence to the Middle East and North Africa (MENA) region's gross domestic product (GDP) by about ** percent. Saudi Arabia was projected to lead the region in AI development and adoption.

Graph and download economic data for Projection of General government net lending/borrowing for Saudi Arabia (GGNLBPSAA188N) from 2025 to 2030 about Saudi Arabia, budget, projection, Net, and government.

Saudi Arabia aims at transforming its hydrocarbon resource-rich economy into a sustainable and diversified one over the coming decade. With this goal in mind, the Vision 2030 initiative introduces a set of complex socio-economic transformation targets. Diversification is expected to significantly change the sectoral composition of the economy, with the manufacturing and service sectors becoming further pillars of sustainable growth. The V2030 dynaminc input-output tables combine macroeconomic forecasts with the RAS method to reflect the future structure of the Saudi economy, with an emphasis on key targets of Saudi Vision 2030.

Saudi-Arabien: Economic growth forecast: Für diesen Indikator stellen wir Daten für Saudi-Arabien von 1980 bis 2030 bereit. Der durchschnittliche Wert für Saudi-Arabien in diesem Zeitraum lag bei 2.25 Prozent mit einem Minimum von -16.11 Prozent im Jahre 1982 und einem Maximum von 10.99 Prozent im Jahre 2011. Der neuste Wert aus dem Jahr 2030 liegt bei 3.28 Prozent. Zum Vergleich: Der Weltdurchschnitt im Jahr 2030, basierend auf 182 Ländern, liegt bei 3.25 Prozent.

In Saudi Arabia Sharing Economy Market , was valued at approximately USD 10.11 billion in 2022 and is projected to reach USD 12.45 billion by 2029,

Snapshot img

Saudi Arabia IT Market Size 2025-2029

The Saudi Arabia IT market size is forecast to increase by USD 5.6 billion at a CAGR of 6.9% between 2024 and 2029. The market is experiencing significant growth, driven by the Saudi Vision 2030 national transformation program and the increasing adoption of e-governance.

Major Market Trends & Insights

Based on the Component, the hardware segment led the market and was valued at USD 6.26 billion of the global revenue in 2022.
Based on the End-user, the government segment accounted for the largest market revenue share in 2023.

Market Size & Forecast

Market Opportunities: USD 14.16 Billion
Future Opportunities: USD 5.6 Billion
CAGR (2023-2028): 6.9%

The Saudi Vision 2030 initiative aims to diversify the economy and reduce its reliance on oil, creating a favorable environment for IT investments. In line with this, the Saudi Arabian government is prioritizing digital transformation, leading to an increase in demand for IT solutions and services. Moreover, the adoption of e-governance is gaining momentum in Saudi Arabia, with various government agencies embracing digital technologies to improve service delivery and enhance citizen engagement. This trend is expected to continue, creating opportunities for IT companies to offer innovative solutions and services.

What will be the size of the Saudi Arabia IT Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market continues to evolve, with various sectors embracing innovative technologies to drive growth and efficiency. Company management practices are increasingly focusing on smart city technologies, such as virtualization and collaboration platforms, to enhance urban infrastructure and services. IT infrastructure spending is projected to reach 12.5% of the country's GDP by 2023, with a significant portion allocated to edge computing deployment and data breaches prevention. Process automation tools and innovation ecosystem development are key areas of investment, with technology adoption rates reaching an all-time high of 45% in 2021. Digital government initiatives are transforming public services, with e-learning platform implementation and digital literacy programs becoming essential components of the national agenda. The software segment is the second largest segment of the component and was valued at USD 2.22 billion in 2022.
However, the market faces challenges, including the increasing threat of cyber crimes. With the growing digitalization of government and business operations, the risk of cyber attacks is on the rise. Companies operating in the IT market must prioritize cybersecurity to mitigate these risks and maintain the trust of their clients. Effective cybersecurity strategies, including data encryption, multi-factor authentication, and regular vulnerability assessments, are essential to navigating this challenge and capitalizing on the market's growth opportunities.
Telehealth technology deployment and IT outsourcing models are also gaining traction, enabling cost optimization strategies and improving service level agreements. However, the market is not without challenges, with IT risk management and talent acquisition strategies becoming critical concerns. The IT skills gap and cybersecurity threats landscape are major obstacles to growth, with the latter expected to cost the region's businesses over USD3 billion annually by 2025. Financial technology solutions and knowledge management systems are essential tools in addressing these challenges, as the market continues to adapt and innovate.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Component

  Hardware
  Software
  Services


End-user

  Government
  IT and Telecommunication
  BFSI
  Oil and gas
  Retail and E-commerce
  Others


Deployment Type

  On-Premises
  Cloud-Based
  Hybrid


Geography

By Component Insights

The hardware segment is estimated to witness significant growth during the forecast period. The segment was valued at USD 6.26 billion in 2022.

In Saudi Arabia, the IT market is witnessing significant growth as businesses prioritize digital workforce transformation and mobility. Mobile application development is on the rise, with companies investing in custom apps to enhance productivity and customer engagement. Cybersecurity awareness training is becoming essential as data privacy regulations tighten, and cloud computing adoption increases to improve data center capacity and reduce IT infrastructure costs. Remote work technologies are gaining traction, enabling a flexible work e

This statistic shows the total population of Saudi Arabia from 2020 to 2024, with projections up until 2030. In 2024, Saudi Arabia's total population amounted to 35.3 million inhabitants. Population of Saudi Arabia Saudi Arabia, the second largest Arab state, is a nation in development. As a result of the economic stability, gross domestic product (GDP) has grown by about 520 billion U.S. dollars over the past decade. This comes as a result of Saudi Arabia’s positive trade balance and the fact that Saudi Arabia exports about 2.5 times more goods than it imports. Therefore, it is no surprise that Saudi Arabia has constantly had a very high GDP growth in the past decade. In a developing country, there is a tendency for the population to move to more urban cities where the employment rates are higher. The degree of urbanization in Saudi Arabia has grown by around 2 percent from 2002 to 2012. Some of the biggest cities in Saudi Arabia have witnessed the urbanization changes first-hand. The capital of Saudi Arabia and the biggest city, Ar-Riyad, is home to about five million inhabitants. However, the high number of illegal immigrants in Saudi Arabia also accounts for the total population. More awareness to health risks and better living conditions have increased the life expectancy at birth in Saudi Arabia by about 3 years in the last decade. With a rapidly growing total population, it has grown by around 8 million inhabitants over the past decade, the government has set some rules to avoid overcrowding and overpopulation. The fertility rate in Saudi has steadily decreased over the past years in order to attempt to control the rapidly growing population.

Between 2018 to 2030, artificial intelligence was expected to contribute by about **** percent to the year-on-year gross domestic product (GDP) growth in Saudi Arabia. Saudi Arabia was projected to lead the region in AI development and adoption.

Inflation Rate in Saudi Arabia increased to 2.30 percent in June from 2.20 percent in May of 2025. This dataset provides - Saudi Arabia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.