Groundwater is the primary source of freshwater for domestic, agricultural, and industrial usage in the Arabian Peninsula countries. It is increasingly becoming a limited resource due to human activities leading to excessive depletion and contamination. Thus, sustainable management of groundwater resources in this region is critical. The groundwater in the Arabian Peninsula countries is primarily found in transboundary systems such as the Wajid, Umm Er Radhuma, and Wasia Aquifers shared between Saudi Arabia, Iraq, Syria, Yemen, and Oman. These systems have no groundwater-sharing agreements, which leads to a lack of data sharing, unsustainable and uncoordinated development, rapid water depletion, water quality deterioration, and land subsidence. This study examines the Wajid, Umm Er Radhuma, and Wasia aquifer systems from April 2002 to May 2021 by analyzing monthly gravity field solutions from GRACE and GRACE-FO satellite data, other remote sensing observations, information from the Global Land Data Assimilation System (GLDAS), as well as field data to determine how regional water resources are changing over time and to identify the factors that influence these resources. The sharp decline in Total Water Storage Anomalies (TWSA) and the Groundwater Storage Anomalies (GWSA) across all three systems is caused by a combination of climatic and human factors. The observed decline in Total Water Storage can be partly attributed to a decrease in regional rainfall, whereas the depletion of Groundwater Storage has a strong correlation with the rise in groundwater extraction for irrigation purposes in the 2010s. The recent rise is groundwater depletion in specific areas of central Saudi Arabia may be attributed to agricultural irrigation and rapid urban development. The results are insightful for monitoring water storage in management plans and decision-making processes to preserve and efficiently use groundwater resources.