Latest news with #andTechnologyCommission
Leaders
15-04-2025
- Business
- Leaders
CST Launches Public Consultation on Global AI Hub Law
The Communications, Space, and Technology Commission (CST) has opened a public consultation on the proposed Global AI Hub Law, inviting input from stakeholders worldwide. This initiative aims to establish a forward-looking legal and regulatory framework that attracts high-quality investments in technology—particularly in artificial intelligence and data centers. According to a CST press release, the law is designed to reinforce Saudi Arabia's position as a global digital hub and a leading force in the international digital economy. It promotes innovation, entrepreneurship, and research in advanced technologies, while also enabling the development of sovereign data centers to ensure service continuity and cross-border data sovereignty. The law also supports investment in data and AI services to stimulate market growth and strengthen sustainable digital infrastructure. Proposal Outlines 3 Advanced Hosting Models: Private Center : Designed to host international data and services within the Kingdom. : Designed to host international data and services within the Kingdom. Extended Center Virtual Center: Both aimed at attracting major AI and cloud computing companies to serve global clients from within Saudi Arabia, offering varying levels of sovereignty and privileges. The law aligns with international agreements and global best practices. CST encourages feedback from government bodies, private sector entities, investors, and the general public. Contributions can be submitted from April 14 to May 14, 2025, via the official consultation portal: G20 The release also highlights Saudi Arabia's advanced digital infrastructure, ranking second among G20 nations in the 2024 ICT Development Index by the International Telecommunication Union (ITU). Finally, the Kingdom's telecom and tech markets reached SAR 166 billion in 2023, marking it as the largest and fastest-growing in the MENA region and a global leader in technology adoption and development. Related Topics : KACST Grants 2 Licenses for Modular Construction, Carbon Nanotube Commercialization CST Engages in MWC Barcelona 2025 OIC Denounces Israeli Airstrike on Gaza Hospital, Cites Risk of Humanitarian Crisis SDAIA Releases Guidelines,Tool for Assessing Cross-Border Data Transfer Risks Short link : Post Views: 11
Gulf Business
15-04-2025
- Business
- Gulf Business
Saudi space economy reaches $8.7bn in 2024, CST announces
Image: Getty Images/ For illustrative purposes Saudi Arabia's space economy reached $8.7bn in 2024, according to the Communications, Space, and Technology Commission ( The size of the Saudi space market reached $1.9bn last year, CST said in its newly released KSA Space Market 2025 report. The report aims to highlight the latest developments and growth in local and global space market sizes, support market development and competitiveness, assist investors and entrepreneurs in the sector, and identify promising opportunities in the space industry. Saudi space sector growth aligned with Vision 2030 CST governor Dr Mohammad Altamimi emphasised that strong support from the kingdom's leadership is accelerating investment, infrastructure development, and the empowerment of national talent. These efforts contribute to achieving the goals of Saudi Vision 2030 and establishing a competitive, sustainable space economy both regionally and internationally. Dr Altamimi said the report extends CST's efforts to enable the space sector as a new economic driver that strengthens the kingdom's global position in technology and innovation. He added that it serves as a valuable resource for decision-makers, investors, and entrepreneurs to understand future trends and promising growth opportunities in the sector. The report also highlights the rapid growth of the Saudi space economy, which is expected to reach $31.6bn by 2035, with a compound annual growth rate (CAGR) estimated at 12 per cent, supported by investments in space sector infrastructure. The global space economy is projected to reach $1.8tn by 2035, with a CAGR of 9 per cent. Growth outlook by 2035 The Saudi space market is projected to reach $5.6bn by 2035, supported by advancements in space technologies. Globally, the space market reached $176bn in 2024 and is forecast to grow to $377bn by 2035. Notable developments in both local and global space markets outlined in the report include Earth observation data analysis, infrastructure services, integrated communication systems, advanced sensing systems, and the development of small satellites. The report also highlights global shifts in the sector, such as the entry of private sector players, growing demand for satellite-based services, and renewed interest in space exploration. It further addresses investment in the Saudi
Saudi Gazette
14-04-2025
- Business
- Saudi Gazette
Saudi space economy hits $8.7 billion in 2024
Saudi Gazette report RIYADH — The Communications, Space, and Technology Commission (CST) announced that Saudi Arabia's space economy reached $8.7 billion in 2024, encompassing all value-added activities and industries driven by space technologies and services. According to the newly released 'KSA Space Market 2025' report, the current size of the Saudi space market stands at $1.9 billion. The report aims to highlight recent local and global developments in the space sector, enhance market competitiveness, support investors and entrepreneurs, and showcase promising opportunities within Saudi Arabia's expanding space ecosystem. The Saudi space economy is projected to grow to $31.6 billion by 2035, with an estimated compound annual growth rate (CAGR) of 12%, driven by increasing investments in space infrastructure. In comparison, the global space economy is expected to grow at a CAGR of 9%, reaching $1.8 trillion by 2035. The domestic space market is also forecast to grow significantly, with expectations to hit $5.6 billion by 2035, fueled by advances in space technologies. Globally, the space market was valued at $176 billion in 2024 and is expected to more than double to $377 billion by Governor Dr. Mohammad Al Tamimi underscored the Kingdom's leadership-driven support in accelerating infrastructure development, investment, and human capital in the space field. He noted that these efforts are key to achieving the goals of Vision 2030 and positioning Saudi Arabia as a regional and international hub for space innovation and added that the report is part of CST's broader efforts to enable the space sector as a new economic engine, offering a valuable resource for policymakers, investors, and entrepreneurs to navigate the sector's future trends and growth report identifies several key developments shaping both local and international markets, including Earth observation data analytics, infrastructure services, integrated communication systems, advanced sensing capabilities, and the deployment of small satellites. It also highlights global shifts, such as increasing private sector involvement, rising demand for satellite-based services, and renewed global interest in space the report outlines growth areas within the Kingdom's space sector, such as satellite communications and navigation, rocket manufacturing and launches, and Earth monitoring via satellites.
Observer
14-04-2025
- Business
- Observer
Saudi space economy reaches $8.7 Billion in 2024
Riyadh: The Communications, Space, and Technology Commission (CST) announced that the Saudi space economy reached $8.7 billion last year, including all value-added activities and industries from space technologies and services. The size of the space market reached $1.9 billion, according to the KSA Space Market 2025 report. WhatsApp Image 2025-04-14 at 1.19.49 PM The report aims to highlight the latest developments and growth in local and global space market sizes, support market development and competitiveness, assist investors and entrepreneurs in the sector, and identify promising opportunities in the space industry. CST Governor Dr. Mohammad Altamimi emphasized that strong support from the wise leadership is accelerating investment, infrastructure development, and the empowerment of national talent. These efforts contribute to achieving the goals of Saudi Vision 2030 and establishing a competitive, sustainable space economy regionally and internationally. Altamimi also stated that the report extends CST's efforts to enable the space sector as a new economic driver that strengthens the Kingdom's global position in technology and innovation. The report serves as a valuable resource for decision-makers, investors, and entrepreneurs to understand future trends and promising growth opportunities in the sector. It also highlights the rapid growth of the Saudi space economy, which is expected to reach $31.6 billion by 2035, with a compound annual growth rate (CAGR) estimated at 12%, supported by investments in space sector infrastructure—at a time when the global space economy is expected to reach $1.8 trillion in 2035, with a CAGR of 9%. The Saudi space market is projected to reach $5.6 billion by 2035, supported by space technologies, while the global space market reached $176 billion in 2024 and is expected to grow to $377 billion by 2035. Notable developments in the local and global space markets are also mentioned, including Earth observation data analysis, infrastructure services, integrated communication systems, advanced sensing systems, and the development of small satellites. The report also highlights global shifts in the sector, such as private sector entry, growing demand for satellite-based services, and renewed interest in space exploration. It also addresses investment in the Saudi space sector and key areas of development, such as satellite communications and navigation, rocket manufacturing and launch services, and satellite-based Earth monitoring.
Broadcast Pro
14-04-2025
- Business
- Broadcast Pro
Saudi Arabia's space economy hits $8.7bn in 2024: CST
The Saudi space market is projected to reach $5.6bn by 2035, supported by space technologies. The Communications, Space, and Technology Commission (CST) has revealed that Saudi Arabia's space economy reached $8.7bn in 2023, encompassing all space-related technologies and services. The space market alone accounted for $1.9bn, according to findings from the newly released KSA Space Market 2025 report. The report provides a comprehensive overview of local and global space sector developments, aiming to support market competitiveness, guide investors and entrepreneurs, and highlight emerging opportunities in the Kingdoms rapidly expanding space industry. CST Governor Dr Mohammad Altamimi attributed this growth to the robust support from Saudi leadership, which has accelerated infrastructure development, investment, and the cultivation of national talent. These initiatives align with the goals of Vision 2030, positioning the Kingdom as a regional and global hub for space innovation and technology. Altamimi noted that the report is part of CSTs wider mission to empower the space sector as a key economic driver, helping to elevate Saudi Arabias international standing in advanced technologies. Looking ahead, the Saudi space economy is expected to reach $31.6bn by 2035, driven by a compound annual growth rate (CAGR) of 12%. This projection coincides with anticipated global growth in the sector, where the worldwide space economy is forecast to hit $1.8tn, growing at a CAGR of 9%. The Kingdoms space market is also on track to expand significantly, with projections showing it will grow to $5.6bn by 2035, supported by continuous investments in cutting-edge space technologies. Meanwhile, the global space market, which stood at $176bn in 2024, is expected to more than double to $377bn by the same year.
