Saudi Arabia Cybersecurity Market is expected to grow at a robust CAGR
Saudi Arabia Cybersecurity Market is expected to grow
owing to growing number of cyber threats, including ransomware attacks, data
breaches, and nation-state cyber espionage throughout the forecast period.
According to TechSci Research report, “Saudi
Arabia Cybersecurity Market – By Region, Competition, Forecast and
Opportunities, 2018-2028”, the Saudi Arabia Cybersecurity Market is
expected to register robust growth during the forecast period. The Saudi
Arabian government has been actively promoting and investing in cybersecurity.
Initiatives such as the National Cybersecurity Authority (NCA) and the Saudi
Vision 2030 program emphasize the importance of cybersecurity and the
protection of critical infrastructure, which drives investments and demand for
cybersecurity solutions.
The Saudi Arabian government has been actively
investing in strengthening its cybersecurity infrastructure. Initiatives like
the National Cybersecurity Authority (NCA) have created opportunities for
cybersecurity companies to collaborate and provide solutions for critical
infrastructure and government entities.
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Pages and an in-depth TOC on the "Saudi Arabia Cybersecurity Market."
Based on solution type, the Firewall segment is
expected to dominate the market during the forecast period. With the growth of
e-learning and the digitization of educational resources, educational
institutions in Saudi Arabia are investing in cybersecurity to protect student data
and intellectual property. The rise of online retail and e-commerce has made
this sector a target for cybercriminals. Security measures focus on securing
customer data, payment information, and preventing online fraud. Many
organizations in Saudi Arabia are opting for managed security services to
enhance their cybersecurity posture. These services offer 24/7 monitoring,
threat detection, and incident response. This segment includes the sale of
cybersecurity software and hardware solutions. Organizations invest in
firewalls, antivirus software, intrusion detection systems, and more. The
evolving threat landscape, including ransomware attacks and nation-state cyber
threats, has prompted organizations to enhance their cybersecurity measures.
Public-private partnerships and collaborations with international cybersecurity
firms have been established to strengthen the country's cybersecurity
capabilities. Investments in building a skilled cybersecurity workforce have
been made to address the shortage of cybersecurity professionals.
Based on end-user industry, the Private
Organizations segment is projected to dominate the market throughout the
forecast period. The retail sector, including brick-and-mortar stores and
online retailers, faces threats such as payment card data breaches and online
fraud. Cybersecurity measures aim to protect customer data, secure online
transactions, and ensure the availability of e-commerce platforms.
Telecommunication companies and IT service providers handle vast amounts of
customer data and play a key role in the digital transformation of the country.
Security measures focus on network and data protection, securing customer
information, and ensuring the availability of communication services.
Construction and engineering firms are digitizing their processes and designs,
making them attractive targets for intellectual property theft and industrial
espionage. Cybersecurity efforts in this sector aim to protect sensitive
blueprints, designs, and project information. Universities, colleges, and
research institutions increasingly rely on digital technologies and house
valuable research data. Cybersecurity is essential to protect student records,
intellectual property, and research findings. SMEs in Saudi Arabia make up a
significant portion of the private sector. They face cybersecurity challenges
with limited resources. Managed security services and cost-effective
cybersecurity solutions are crucial for SMEs. With the growth of remote work,
endpoint security solutions have become more critical in safeguarding corporate
networks. Organizations are investing in threat intelligence services to stay
updated on the evolving threat landscape.
Key market players in the Saudi Arabia Cybersecurity
Market are:-
- IBM Middle East FZ-L.L.C
- Dell Technologies Inc.
- Palo Alto Networks Saudi Arabian Limited Company
- Cisco (Saudi Arabia) Support Limited
- Fortinet, Inc.
- Lockheed Martin Corporation
- Trend Micro Incorporated
- NEC Saudi Arabia Ltd.
- Hewlett Packard Enterprise Development LP
- NortonLifeLock Inc.
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“The Saudi Arabia Cybersecurity Market in Riyadh is
poised to be the dominant force in the industry. Riyadh serves as a hub for
both local and international cybersecurity companies. Collaboration and
partnerships between these companies are driving the market forward, as they
combine global expertise with local knowledge. Riyadh residents and businesses
are increasingly aware of the importance of cybersecurity due to government
campaigns and media coverage of cyber threats. This awareness is driving investment
in cybersecurity measures.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Saudi Arabia Cybersecurity Market Segmented By
Security Type (Network Security, Application Security, Cloud Security, Endpoint
Security and Others), By Solution Type (Firewall, Antivirus & Antimalware,
Risk & Compliance Management, Identity & Access Management and Others),
By Deployment Mode (Cloud and On-premises), By End-User Industry (Government,
BFSI, Private Organizations, Retail, Healthcare and Others), By Region, and By
Competition, 2018-2028,” has evaluated the future growth potential of Saudi
Arabia Cybersecurity Market and provides statistics & information on market
size, structure, and future market growth. 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 in Saudi Arabia
Cybersecurity Market.
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