Smart infrastructure in Saudi Arabia is expected to reach a value of 14,745.2 million by 2027. The Saudi government, through initiatives like the National Transformation Program, is actively working to streamline infrastructure, advance society, ensure resource sustainability, improve governance, drive digital transformation, and enhance the labor market to achieve the Vision 2030 objectives. As part of this initiative, the Kingdom of Saudi Arabia is eager to collaborate with international partners with the primary goal of providing innovative housing to more than 85% of the urban population in Saudi Arabia.
Adoption of emerging technologies is crucial for propelling urban transformation.
Saudi Arabia’s strategic shift towards economic diversification is gaining momentum, backed by significant infrastructure investments for a growing population and varied industries. Projects include new cities and enhanced transport hubs.
The Saudi government’s initiatives, including the National Transformation Program, aim to streamline infrastructure, enhance social progress,vensure resource sustainability, achieve efficient governance, drive digital transformation, and improve the labor market to fulfill Vision 2030’s objectives.
Saudi Arabia is rapidly urbanizing, with over 85% of the population residing in urban areas. This will lead to significant shifts in demographics, infrastructure demands, and urban planning strategies.
The Saudi Arabia smart cities market size was valued at USD 3,552.1 million in 2019, and is projected to reach USD 14,745.2 million by 2027. (Saudi Arabia Smart Cities Market Size, Share and Growth | 2027. (n.d.). Allied Market Research.)
Saudi Arabia is keen to develop partnerships to leverage international expertise and innovation within the smart city value chain in order to help them realise their goals.
Saudi Arabia has committed to reducing carbon emissions by more than 278 mtpa by 2030. Smart city technology plays a crucial role in attaining these objectives by optimizing consumption, minimizing waste, and enhancing transportation efficiency.
Saudi Arabia's Vision 2030 is a comprehensive strategic plan initiated under the guidance of King Salman bin Abdulaziz al Saud and led by Crown Prince Mohammed bin Salman bin Abdulaziz. It aims to transform Saudi Arabia into a diversified and dynamic economy by leveraging the country's inherent strengths, such as its strategic location, investment capacity, and its central role in the Arab and Islamic worlds. The vision is built on the premise of maximizing potential, fostering economic growth, enhancing government efficiency, and improving the quality of life for Saudi citizens.
With an abundance of large-scale projects spanning across the nation's diverse regions, you're stepping into a market poised for significant expansion.
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