RIYADH — There has been a growth of 70 percent in the commercial registrations for cloud computing services, according to a report of the Ministry of Commerce. The report for the fourth quarter of 2024 recorded a 36 percent increase in the growth of commercial registrations in the application development activity, and a 12 percent increase in fintech solutions activity. The ministry said that providing cloud computing services is one of the most prominent economic activities and promising sectors in the Kingdom, as the number of commercial registrations in this sector reached 3,005 by the end of the fourth quarter of 2024, compared to 1,759 registrations for the same period in 2023. The Riyadh region ranked first with 1900 registrations, and it was followed by the Makkah region with 575 registrations, Eastern Province with 329 registrations, Madinah with 72 registrations, and Asir with 37 registrations. The ministry said that commercial registrations for the application development activity witnessed a growth rate of 36 percent, recording 15800 registrations by the end of the fourth quarter of 2024, compared to 11600 registrations for the same period in 2023. The Riyadh region topped with 9700 registrations, followed by the Makkah region with 3200 registrations, then the Eastern Province with 1600 registrations, Madinah with 467 registrations, and Asir with 249 registrations. The commercial registrations for the FinTech solutions activity witnessed a growth rate of 12 percent, reaching 3152 by the end of the fourth quarter of 2024, compared to 2795 registrations for the same period in 2023. The Riyadh region topped with 1900 registrations, followed by the Makkah region with 636 registrations, then the Eastern Province with 309 registrations, Madinah with 86 registrations, and Qassim with 44 registrations. It is noteworthy that the total number of commercial registrations in the Kingdom has reached more than 1.6 million, 30 percent of which are for institutions owned by women, and 38 percent of which are for institutions owned by young people
