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Unlocking Potential: Saudi Arabia’s ICT Market Insights Revealed by Infinium Global Research

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In recent years, Saudi Arabia has demonstrated remarkable progress in modernizing its Information and Communication Technology (ICT) sector. This transformation is driven by strategic initiatives from the Communication and Information Technology Commission (CITC), which has prioritized enhancing market competition through regulatory flexibility, transparency, and collaborative efforts. Notably, the International Telecommunication Union (ITU) recognizes Saudi Arabia as a leader in the Arab State region, achieving a “generation 4” (G4) status in the ITU Global ICT Regulatory Outlook 2020. Within the Middle East and North Africa regions, Saudi Arabia stands as one of the largest markets for Information and Communication Technology. With its strategic geographical location, Saudi Arabia is well-positioned to emerge as a hub for technology services and cloud computing, boasting global connectivity access via the Red Sea, thereby serving markets in EuropeAsia, and Africa. As a G4 country, Saudi Arabia effectively integrates ICT regulation with a separate regulatory authority vested with enforcement powers. This authority operates with a clear mandate, overseeing a fully competitive market while safeguarding consumer interests under the “generation of regulation” model. Projections indicate that the Saudi Arabian ICT market is expected to experience a 5.6% growth in 2023, reaching a total value of $33.43 billion in 2022. This growth is predominantly driven by hardware expenditure, accounting for 58.5%, followed by services (30.4%), and software (11.1%).

More Insights on this report, Speak to Our Analyst: https://www.infiniumglobalresearch.com/contact-us

Key Business Opportunities and Factors Driving ICT Growth in Saudi Arabia:

  • Cloud Adoption Surge: Anticipate a robust migration to cloud computing, as organizations increasingly embrace Infrastructure-As-A-Service and Platform-As-A-Service solutions.
  • Emphasis on Edge Computing: Expect increased investments and collaborations in edge computing, facilitating the successful deployment of emerging technologies and use cases.
  • IT Services in the AI Landscape: IT services providers have the opportunity to design and implement innovative business models while effectively managing data and infrastructure.
  • Emerging Technology Integration: Witness a growing demand for industrial and intelligent automation, coupled with seamless integration with future technologies like IoT, AI, and Blockchain.
  • Green Data Centers: Anticipate a surge in green data center initiatives, data center consolidation efforts, and policy changes aimed at enhancing data center sustainability.

Driving Forces for ICT Growth:

Saudi Arabia’s ICT expansion is propelled by rising personal incomes and a growing pool of specialists committed to advancing leadership in connectivity and information technology. Additionally, the nation boasts a robust economy, political stability, a youthful demographic, and national policies that prioritize economic diversification. Factors such as increased foreign direct investment (FDI), a burgeoning ecosystem that supports ICT innovation and entrepreneurship, a thriving telecommunications sector, and a growing IT service industry collectively stimulate ICT investments in Saudi Arabia.

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Investments:

Saudi Arabia is embarking on a new era of digital innovation, with ICT spending projected to exceed $34.5 billion this year, underpinned by significant foreign direct investment and a substantial $7 trillion development plan for the giga project. In 2023, the Saudi government is making noteworthy investments in key areas, including AI, IoT, cybersecurity, and data analytics.

In the realm of foreign direct investment, Saudi Arabia is incentivizing data center investments of $400 million, which create a minimum of 20 jobs with an average annual wage of $40,000, thereby qualifying for up to 30 years of tax savings.

Furthermore, as part of its commitment to digital transformation and preparation for the future economy, Saudi Arabia has unveiled investments exceeding $9 billion in its technology sector. These investments are spearheaded by a substantial $2.1 billion commitment from Microsoft to establish a super-scalar cloud infrastructure in the country, and Oracle’s $1.5 billion investment to fortify the kingdom’s cloud computing capabilities. Additionally, China’s Huawei is contributing $400 million to enhance Saudi Arabia’s cloud infrastructure.

The information and communication technology sector in Saudi Arabia are valued at SR134 billion, constituting 4.1% of the Kingdom’s gross domestic product (GDP), emphasizing its growing economic significance.

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During the forum, the Communications, Space, and Technology Commission (CST) announced that the ICT market in Saudi Arabia surged to a value of 154 billion in 2022, establishing itself as the largest and most rapidly expanding digital economy in the region. Additionally, Dr. Altamini emphasized that CST has introduced high-speed internet services in 21,000 villages across the nation, addressing the needs of over 5 million people and ensuring uninterrupted communication services. This underlines the substantial progress in the Kingdom’s communication and technology infrastructure. Notably, 5G coverage in Riyadh has reached an impressive 53%, while exceeding 94% in other regions. The utilization of fiber optics has extended to 3.7 million users in Saudi Arabia, reflecting a dynamic shift towards advanced and high-speed connectivity solutions.

Opportunities:

The Ministry of Communication and Information Technology (MCIT) has been primarily focused on establishing a robust and advanced architectural framework to facilitate digital transformation across various domains such as e-commerce, smart cities, national data management, digital education, digital healthcare, and e-government. In line with Saudi Arabia’s ICT strategy for 2023, the objectives include generating more than 25,000 employment opportunities within the sector, achieving a 50% expansion in the IT market size and technology development, and increasing the sector’s contribution to GDP by $13.3 billion. The strategy also aims to attract international investments and promote the active participation of women in the field. According to the International Data Corporation (IDC), the Saudi ICT sector experienced an impressive 8% growth between 2019 and 2021, culminating in a total value of $32.1 billion.

In a move to bolster the resilience of the Supreme Audit Institution (SAI) through ICT solutions, the Saudi Fund for Improved SAI Performance (Saudi FISP) is facilitating the expansion and enhancement of ICT infrastructure. The Saudi Arabia General Court of Audit has generously allocated $1 million to be distributed among International Organization of Supreme Audit Institution (INTOSAI) members that require external assistance to advance their ICT infrastructure, thus fortifying the capabilities of these institutions.

Need Assistance? Send an Enquiry@ https://www.infiniumglobalresearch.com/contact-us

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Vision 2030:

Saudi Arabia’s Vision 2030 is focused on the bolstering of the ICT sector with the goal of forging a digital society, digital government, digital economy, and a forward-thinking future for the Kingdom. Within this framework, the Ministry of Communication and Information Technology (MCIT) establishes the groundwork for diversification and enhancing competitiveness. It revolves around three primary pillars, each delineating specific objective to be realized by 2030: fostering a dynamic society, fostering a prosperous economy, and shaping an ambitious nation via a well-crafted digital strategy, enabling a connected present and an innovative future.

Challenges:

Saudi Arabia encounters difficulties in both enlarging its domestic ICT workforce and attracting foreign talent. Moreover, sourcing local professionals with hands-on experience in cutting-edge technologies like cloud computing, mobility solutions, and cybersecurity proves to be a challenge. The nation also grapples with significant cybersecurity threats, further complicating its ICT landscape.

Main Players

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  • IBM Middle East
  • Saudi Telecommunication company
  • Amazon.ae
  • Palo Alto Networks Saudi Arabian Limited Company
  • nybl

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Antalpha Announces Strategic Investment in Tether Gold and Expansion into New Lending Verticals

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OwlTing Group Unveils AI-Powered OwlPay® Harbor™ for Stablecoin On/Off-Ramping

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OwlPay® Harbor™ simplifies onboarding by offering MCP for businesses to integrate with their own AI agents

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Blocks & Headlines: Today in Blockchain – May 26, 2025 (Lightchain AI, Cetus Hack, Bilal Bin Saqib, The Blockchain Group)

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In an era defined by rapid innovation and heightened security scrutiny, today’s blockchain headlines span breakthroughs in decentralized AI, hard lessons from a major DeFi exploit, strategic government appointments, and enhanced governance mechanisms at a leading Bitcoin-focused firm. This op-ed–style briefing analyzes five key developments, offering insights into their broader impact on blockchain, cryptocurrency, Web3, DeFi, and NFTs.


1. Lightchain AI: A Decentralized “Brain” Takes Shape

Source: Bitcoin.com News

What Happened:
Lightchain AI, positioning itself as an Ethereum challenger, is preparing to launch a fully decentralized AI compute network—what its creators dub a “blockchain brain.” By distributing inference and training tasks across a peer-to-peer network, Lightchain aims to eliminate single-entity control, democratize access to AI, and reduce bias introduced by centralized data silos.

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Why It Matters:

  • Decentralization at Scale: If successful, Lightchain’s model could shift AI development from corporate labs to open networks, mirroring blockchain’s initial ethos.

  • Incentivized Participation: Token-based rewards for node operators may drive robust network security and uptime.

  • Interoperability Potential: As an EVM-compatible layer, Lightchain could integrate seamlessly with existing DeFi and NFT protocols.

Opinion: Decentralized AI addresses growing concerns over data monopolies and opaque algorithms. Yet technical challenges—latency, model consistency, and economic sustainability—remain formidable. The blockchain community will watch closely to see if Lightchain can harmonize on-chain governance with rigorous AI‐safety standards.


2. Cetus Protocol Hack: Overflow Flaw Exposes $223M Loss

Source: Cointelegraph; Crypto.news

What Happened:
Blockchain security firm Dedaub released a detailed post-mortem of the Cetus AMM hack, attributing the $223 million user loss to an unchecked integer overflow in its liquidity-parameter calculations. Attackers manipulated swap parameters to drain funds before on-chain checks could intervene.

Why It Matters:

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  • Smart-Contract Audits Aren’t Enough: Even audited code can harbor edge-case bugs; continuous monitoring and formal verification are critical.

  • Economic Risks: Large losses erode user trust and can precipitate token price crashes across interconnected DeFi protocols.

  • Evolving Attack Vectors: Overflow exploits highlight that attackers still exploit fundamental coding oversights, not just novel zero-days.

Opinion: The Cetus incident underscores the precarious balance between rapid DeFi innovation and rigorous security. Protocol developers must adopt layered defenses—automated fuzzing, invariant checks, and circuit breakers—to safeguard user assets and maintain ecosystem integrity.


3. Pakistan Appoints Bilal Bin Saqib as SAPM on Blockchain & Crypto

Source: Dunya News; The Express Tribune

What Happened:
Prime Minister Shehbaz Sharif has named Bilal Bin Saqib—already CEO and Chief Advisor of the Pakistan Crypto Council—as Special Assistant to the PM (SAPM) on blockchain and cryptocurrency, with state-minister status. His remit includes crafting a FATF-compliant regulatory framework, overseeing virtual asset service providers, and spearheading Bitcoin-mining initiatives.

Why It Matters:

  • Policy Leadership: A dedicated SAPM accelerates Pakistan’s efforts to balance innovation with investor protection and anti-money-laundering compliance.

  • Economic Potential: Formalizing crypto policy could attract foreign investment and foster homegrown blockchain startups.

  • Talent Development: Saqib’s role may amplify educational programs and public–private partnerships to upskill the workforce in Web3 technologies.

Opinion: Elevating blockchain policy to a ministerial level signals Pakistan’s commitment to a forward-looking digital economy. Success will hinge on clear, consistent regulations that protect stakeholders without stifling experimentation.

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4. The Blockchain Group Enables Online Voting for June 10 AGM

Source: ActusNews; Webdisclosure

What Happened:
Europe’s first Bitcoin Treasury Company, The Blockchain Group (Euronext Growth Paris), has opened online voting for its Combined General Meeting on June 10, 2025. Shareholders will vote on the 2024 financial statements and a proposal to increase the company’s capital-raising capacity to €10 billion, supporting its aggressive Bitcoin-accumulation strategy.

Why It Matters:

  • Enhanced Governance: Online voting increases shareholder engagement and transparency—critical in a sector often criticized for opaque decision-making.

  • Capital Flexibility: A €10 billion envelope equips the company to scale Bitcoin holdings or pursue strategic acquisitions rapidly.

  • Market Signaling: By involving retail and institutional investors directly, The Blockchain Group underscores its vision of community-driven growth.

Opinion: This move exemplifies how blockchain firms can leverage digital tools to align corporate governance with on-chain principles of decentralization and stakeholder empowerment. As other public crypto companies observe, robust e-voting frameworks could become a competitive differentiator.


5. Bilal Bin Saqib’s Dual Role: Bridging Policy and Industry

Source: Geo.tv; Dawn.com

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What Happened:
Beyond his SAPM appointment, Bilal Bin Saqib continues as CEO of the Pakistan Crypto Council (PCC), advising the Finance Minister. His portfolio spans licensing and oversight of Virtual Asset Service Providers (VASPs), FATF-aligned regulations, and launching Bitcoin-mining corridors to utilize surplus energy.

Why It Matters:

  • Policy-Industry Synergy: Saqib’s dual hats ensure real-time feedback between nascent regulations and market realities—potentially avoiding mismatches that stifle growth.

  • Energy Strategy: Harnessing Pakistan’s energy grid for mining could diversify exports but demands strict environmental and grid-stability measures.

  • Global Engagement: His Forbes “30 Under 30” profile and international advisory roles position Pakistan to engage with global standard-setters and investors.

Opinion: The combination of regulatory authority and industry insight in one office is rare globally. If managed transparently, this approach could fast-track Pakistan’s emergence as a hub for compliant, scalable blockchain initiatives.


Key Trends & Takeaways

  1. Decentralized AI & Blockchain Convergence:

    • Projects like Lightchain AI hint at a future where smart-contract networks power not just finance but compute-intensive AI workloads.

  2. Security Remains Paramount in DeFi:

    • As Cetus illustrates, fundamental coding errors can cause systemic shocks—mandating continuous, multi-layered defense.

  3. Governmental Embrace of Crypto:

    • Assigning a SAPM for blockchain in Pakistan mirrors similar moves in other jurisdictions, recognizing crypto’s economic and strategic value.

  4. Governance Innovation:

    • Digital shareholder voting at The Blockchain Group sets new standards for transparency and community engagement in public crypto firms.

  5. Policy-Industry Integration:

    • Leaders who straddle regulatory and commercial spheres may accelerate balanced frameworks, but must safeguard against conflicts of interest.


Conclusion

May 26, 2025’s “Blocks & Headlines” underscores blockchain’s dynamic interplay of technological breakthroughs, security imperatives, policy evolution, and governance innovation. From the promise of decentralized AI compute to hard-earned lessons in smart-contract safety, today’s developments reaffirm that progress in blockchain hinges on marrying visionary projects with rigorous oversight and inclusive stakeholder engagement. As the industry matures, success will favor those who navigate technical complexity, regulatory nuance, and community empowerment in equal measure.

The post Blocks & Headlines: Today in Blockchain – May 26, 2025 (Lightchain AI, Cetus Hack, Bilal Bin Saqib, The Blockchain Group) appeared first on News, Events, Advertising Options.

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