Saudi Managed Security Services Market to Cross $317 Million by 2023
Ongoing Industrial IoT revolution, digital
manufacturing momentum, increasing adoption of SMACT technologies, emerging
operational efficiency enhancement needs, and burgeoning security engineering
and risk mitigation demand to drive Saudi Arabia managed security services
market through 2023
According
to TechSci Research report, “Saudi
Arabia Managed Security Services Market By Deployment Mode, By Application,
By End User Sector, Competition Forecast & Opportunities, 2013 – 2023”,
the country’s Managed Security Services (MSS) market in Saudi Arabia is
projected to grow at a robust double digit CAGR of over 18% during 2018-2023.
The key factors expected to drive the MSS market in Saudi Arabia include digitization
initiatives by the government, increasing number of cybercrimes, and surging
deployment of SMACT technologies across oil & gas, education, government,
manufacturing and defense sectors. Increasing demand for Managed Security
Services supporting multiple OS, in addition to rapid cloud adoption and
emerging BYOD & mobility trends leading to growing network infrastructure,
data security, and security regulation and compliance complexities are
anticipated to positively influence the market during the forecast period.
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Arabia Managed Security Services Market"
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Government sector
held the largest share in Saudi Arabia MSS market in 2017, and the trend is
anticipated to continue in the coming years as well, backed by increasing number
of digitalization initiatives. However, oil & gas sector is anticipated to
emerge as the fastest growing end-user sector in the market during the forecast
period, owing to increasing focus of the government to digitally empower the country’s
highest revenue generating sector. Injazat Data Systems LLC, HP Services Saudi
Arabia, Saudi Telecom Company, Etihad Etisalat Co. and Wipro Arabia Limited are
some of the major players operating in the country’s Managed Security Services
market.
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“Over the last few years, there has been an
increase in the adoption of Managed Security Services across various end user
sectors in Saudi Arabia, attributed to the growing IT and network
infrastructure complexities coupled with easy affordability and higher degree
of efficacy associated with MSS. Furthermore, MSS adoption in the country’s oil
& gas sector is growing at brisk pace, and consequently, emergence
of smart power generation & supply systems is going to a trend to watch out
for in the coming few years”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Saudi Arabia Managed
Security Services Market By Deployment Mode, By Application, By End User
Sector, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential
of the Managed Security Services market in and has also provided the statistics
and information on market structure, size, share and future growth of Saudi
Arabia Managed Security Services market. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities existing in the
market.
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