Government strict regulations such as ECC and Cybersecurity Framework by SAMA will act as a catalyst for the surging growth of the cybersecurity market in KSA. Shifting to cloud infrastructure as companies look for a hybrid mode of working will assist the growth of the industry.
Covid 19 has not only forced people to spend time more time online but has also led to the swift evolution of cybersecurity in KSA. Innovative antivirus solutions have become incredibly important to facilitate live streaming and e-learning.
The recent MoU signed between Saudi NCA and the US Department of Homeland Security is expected to aid the cybersecurity industry focusing on several areas such as sharing cyber threats information between both countries
Strong Government Push: Strict regulations by the government such as ECC and Cybersecurity Framework by SAMA will also act as a catalyst for the surging growth of the cybersecurity market in Saudi Arabia. Coupled with that, the launch of smart city projects such as NEOM will also provide the much-needed push to the sector.
Technological Advancements in Cybersecurity Services: Advancements in encryption technologies, firewalls, MDR, XDR, EDR, digital forensic investigation, and GRC services among others are expected in the coming years. These advancements will lead to a more secure internet network in the Saudi Arabian cyberspace during the forecast period.
Demand for Big Data and 5G Rollout: The cybersecurity market in Saudi Arabia is estimated to expand at a high CAGR in between 2021 and 2026E attributed to increasing demand for big data, a high surging internet penetration rate and roll out of 5G services across the nation. The more connected the nation will become, the more will be the demand for cybersecurity services among users.
The report titled “KSA Cybersecurity Market Outlook to 2026E- Gauging the opportunities for foreign investment in the cybersecurity market” provides a comprehensive analysis of the potential of the Cybersecurity industry in Kingdom of Saudi Arabia. The report covers various aspects including the current cyber threat scenario and major cyberattacks in the country, revenue generated from cybersecurity, its segmentations viz Component, Deployment Type, Region, End User (Medium and Small Enterprises vs Large Enterprises), by Industry, major trends and developments, issues and challenges, government regulations and product analysis. The report concludes with market projections for future of the industry including forecasted industry size by revenue along with analyst recommendations and key market opportunities.
Key Segments Covered in KSA Cybersecurity Market:
By Component (By Revenue), 2021 and 2026F
By Deployment Type (By Revenue), 2021 and 2026F
By Region (By Revenue), 2021 and 2026F
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By User (By Revenue), 2021 and 2026F
Medium and Small Enterprises
By Industry (By Revenue), 2021 and 2026F
Others includes food industry and more
Key Target Audience
Banking and Financial Institutions
Cybersecurity Service Providers
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Time Period Captured in the Report:
Historical Period: 2016-2021
Forecast Period: 2021-2026
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Key Companies Covered:
Sirar by STC
Palo Alto Networks
Trend Micro Incorporated
Hewlett Packard Enterprise
Norton LifeLock Inc.
Key Topics Covered in the Report:
KSA Country Profile and Population Analysis
Operating Model of Cybersecurity Companies
KSA Cybersecurity Market Size and Segmentations
Growth Drivers of KSA Cybersecurity Market
Porter’s Five Forces Analysis of KSA Cybersecurity Market
Government Rules and Regulations in KSA Cybersecurity Market
Government Initiatives in KSA Cybersecurity Market
Key Trends and Developments in KSA Cybersecurity Market
Role of Cutting-Edge Technology in Developing Cybersecurity Solutions and Applications in KSA
Issues and Challenges of KSA Cybersecurity Market
Demand Side Analysis
For more information on the research report, refer to below links: