According to the latest market research study published by P&S Intelligence, the Saudi Arabian wireless services market is poised for significant growth, with projected revenues increasing from USD 44.5 million in 2024 to USD 66.1 million by 2030, reflecting a compound annual growth rate (CAGR) of 6.8% during the forecast period. This expansion is driven by the country's high internet penetration rate, which stands at approximately 99%, and the widespread adoption of smartphones, facilitating greater access to digital services.
The Kingdom's youthful demographic, characterized by a high proportion of tech-savvy individuals, is contributing to the surge in demand for wireless services. The proliferation of Internet of Things (IoT) devices, with over 12 million subscriptions reported, further underscores the market's growth potential. Additionally, Saudi Arabia's ambition to lead in 5G adoption is catalyzing investments in advanced infrastructure, enhancing network capabilities and service offerings.
Key Insights
- The
market is segmented by service type into voice services, data services,
messaging services, and value-added services. Data services are
anticipated to dominate due to the increasing consumption of digital
content and online applications.
- Technological
segmentation includes 2G, 3G, 4G, and 5G. The deployment of 5G networks is
a significant trend, with telecom companies investing heavily to provide
higher speeds and lower latency, supporting applications in smart cities,
healthcare, and logistics.
- Deployment
models encompass public and private networks. Public networks are expected
to maintain a substantial share, catering to the general population's
communication needs.
- End-user
segmentation identifies consumers and businesses as primary categories.
The consumer segment is projected to lead, driven by the youth's
engagement with social media, online gaming, and streaming services.
- Geographically,
Al-Riyadh province holds the largest market share and is the
fastest-growing region, attributed to its advanced infrastructure and
concentration of data centers.
- The
market is consolidated, with key players including Saudi Telecom Company
(STC), Mobily, and Zain. These companies are enhancing their service
portfolios through advanced offerings, flexible pricing, and improved
network quality to capture greater market share .
- The
increasing demand for digital services such as net banking, e-sports,
e-commerce, and streaming platforms is a primary driver of market growth.
Telecom providers are responding by offering bundled service packages and
forming partnerships with content providers.
- The
integration of IoT devices across various sectors, including
transportation and healthcare, is expanding the scope of wireless
services, necessitating robust and reliable connectivity solutions.
- Government
initiatives aligned with Vision 2030 are fostering a conducive environment
for technological advancements and digital transformation, further
propelling the wireless services market.
- The
emphasis on enhancing user experience and network performance is leading
to continuous innovation and adoption of cutting-edge technologies within
the industry.
