The Communications, Space and Technology Commission (CST) showcased prominent numbers of the IT and ET market in Saudi Arabia that reached 81 Billion SAR in 2022 and is expected to reach 103 Billion by 2025 during the Digital Technology Forum 2023 . 

The main achievements in technology sector were announced during the forum, including the number of tech companies listed in the stock market which has increased to 18 companies, while the number of the registered tech companies in the “Manassa Tech" platform has surpassed 1000 company, with over 150 local tech products. 

The Forum highlighted the promising future of the software market with a CAGR up to 11%, which has been a result of CST efforts to raise the efficiency of the local tech products, to be included in the global reports such as Gartner platform and the IDC report, with a total of 20 local tech products reflecting the maturity of technology sector in the Kingdom.

The Digital Technology Forum 2023 kicked off under the patronage of H.E. Eng. Abdullah bin Amer Alswaha, the Minister of Communications and Information Technology and CST Board Chairman, and with the attendance of H.E. Dr. Mohammad bin Saud Altamimi, CST Governor. With the theme “Pioneering Software for a Thriving Digital Economy”, the forum presented the main opportunities in software market and its positive impact in digital transformation in various sectors, the enablement of business models in digital economy and the most prominent numbers in the technology sector. 

The third edition of the forum witnessed the launch of several initiatives and programs, including the announcement of tech companies that have been granted the "Saudi Tech" Membership, which represents a national identity to promote local tech products and enhance their reach locally and globally. Moreover, the forum announced the Low Code Programming Challenge to address technical challenges by utilizing low-code development platforms and tools to create software solutions, applications, and websites without any programming experience. In addition, the winners of Co. Innovation Award were announced, which aims to present the best local tech products developed in collaboration with end-users.

It is worth noting that the Digital Technology Forum is an annual event organized by CST, in collaboration with the Communications and Information Technology Ministry, to keep up with the latest trends and changes in the technology sector. 

This year's forum featured prominent experts in technology and has presented 5 panel discussions and 3 presentations to address the opportunities in software market in the Kingdom, its impact on the development of the digital economy, and the future of software locally and globally. 

  • Publish Date:
  • 18/10/2023
  • Corresponding:
  • 1445/04/03