Saudi Arabia Telecommunication Services Market to Grow Due to Rising Shift Toward Online Platforms
Investments in technology as Saudi enterprises shift to a
digital-first approach to drive the Saudi Arabia Telecommunication Services Market.
According to TechSci
Research report, “Saudi Arabia Telecommunication Services
Market - By Region, Competition, Forecast & Opportunities, 2028”, the Saudi Arabia Telecommunication Services Market
is growing owing to the expanding use of open access models and 5G home
broadband services. Moreover, Increasing initiatives by the government to
provide Fibre-to-the-Home (FTTH) broadband services to consumers are driving
the market. The
telecom sector is undergoing rapid change due to technological advancements,
service delivery, the competitive environment, and the expansion of
telecommunication services in the non-traditional telecom services sector.
These consist of cloud services, managed infrastructure, and data centre/co-location. Additionally, Saudi Telecom Co.,
that often known as STC launched 5G services in the Saudi Arabia in 2019 to
provide 5G commercial services to customers in a number of cities across the
Kingdom. Currently, the business uses the 100 MHz of the 3.5 GHz band spectrum
to deliver 5G services across the cities of the country with improved speed and
performance of wireless network. The company offers more than twice the amount
of 5G coverage internationally and is working towards bringing more technological
advancements in the wireless network vertical of the country.
Moreover, the country is constructing
the NEOM mega-city project as part of Vision 2030, which is expected to cost
USD 500 billion. ICT is essential for smart cities since it links different
infrastructure parts. To meet the future demand, telecom operators might make
use of their current ICT service delivery capabilities. A new SAR 1 billion
agreement between STC and Huawei will deliver an advanced 5G and IoT network to
aid in the growth of the NEOM megacity project. The Saudi Arabian government
has passed severe regulations for communication providers. Recently, the
government has issued fines to the nation's telecom operators. Due to
infractions of the telecommunications law, the Communications and Information
Technology Commission (CITC) fined multiple Saudi telecom operators more than
SR 40 million in February 2021. The region's telecom market will grow as a
result of the region's continuous ICT revolution and the adoption of technologies
like AI, IoT, and megaprojects like NEOM smart city projects. The ongoing 5G
expansion initiatives are anticipated to have a favorable effect on the telecom
business during that time.
Moreover, the Internet of Things (IoT) market
is expected to grow for the Saudi Arabia in the upcoming years due to the
increasing adoption of big data analytics methodology along with the increased
demand for cloud computing systems. As the Internet of Things (IoT) market expands
across the country the adoption of the telecommunication services is expected
to proliferate in the forecast period. The major reasons for the growth in the
IT industry are the country’s extensive use of ZigBee, growing NFC demand, and
rising Bluetooth & Wi-Fi usage along with the rising usage of cloud
platforms and wireless networking technologies, like 5G networks.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Saudi Arabia Telecommunication Services Market"
The Saudi Arabia Telecommunication
Services Market is segmented based on type, transmission, and end use. Based on
type, the market is further bifurcated into mobile, fixed-line, and broadband.
Based on transmission, the market is segmented into wireless and wireline.
Based on end use, the market is divided into banking, financial services, and
insurance (BFSI), healthcare, retail, IT, ecommerce, and others. In terms of
regional analysis, the Saudi Arabia Telecommunication Services Market is
segmented into eastern, northern & central, western, and southern. The central
region is dominant as most of the market players are present in this region.
Due to rising internet and smartphone
penetration as well as the momentum towards the digital economy in line with
Saudi Vision 2030, the mobile segment of the Saudi Arabia telecommunication
service market is anticipated to experience substantial growth in the Upcoming years.
Key market players in the Saudi Arabia Telecommunication
Services Market include:
- Saudi Telecom Company (STC)
- Integrated Telecom Company (SALAM)
- Etihad Atheeb Telecommunications Company
(GO)
- Zain KSA
- Etihad Etisalat (Mobily)
- Virgin Mobile Saudi Consortium LLC
- The Arab Satellite Communications
Organization (Arabsat)
- Industrial Technology Co. Ltd (ITC)
- Gulf DTH FZ LLC.
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“Saudi Arabia's Vision 2030 was revealed
in 2016 as part of the country's ambition to diversify from its oil-dependent
economy, including NEOM, with a vast USD 500 billion budget, as the key
element. The city will use technologies like artificial intelligence, Internet
of Things, electric vehicles, and autonomous transportation, etc. Therefore, it
needs connectivity options that are extremely fast, uninterrupted, and
dependable. As a result, the sphere of connectivity and the internet presents a
great opportunity for telecom companies and track the overall growth of Telecommunication
Services Market in Saudi Arabia.,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Saudi Arabia Telecommunication Services Market By Type (Mobile,
Fixed-line, Broadband), By Transmission (Wireless, Wireline), By End Use
(Banking, Financial Services, and Insurance (BFSI), Healthcare, Retail, IT,
Ecommerce, Others), Competition, Forecast and Opportunities, 2028”, has evaluated the future growth potential of Saudi Arabia Telecommunication
Services Market and provides statistics and information on market structure,
size, share, and future growth. The report is intended to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Saudi Arabia Telecommunication
Services Market.
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