Saudi Arabia Cybersecurity is estimated to expand at a high CAGR between 2021 and 2026E | Size, Share, Growth, Report Forecast: Ken Research
In 2020, Saudi Arabia recorded over 22.5 million cyber-attacks, each of which cost over 6.5 million dollars to the state: Ken Research
In 2020, Saudi Arabia recorded 22.5 million cyberattacks. Companies, especially MSMEs, were the major targets. Therefore, enterprises are boosting investment to enhance their cybersecurity measures.
Favorable demographic dividend: A G20 economy with a young, highly educated population, KSA holds exciting potential and opportunity for investors. Human resources rely more on online mediums, making ample opportunities for investors in the upcoming years. KSA is the largest country in the Middle East and the 19th largest economy in the world and accounts for 0.46% of the world population.
Increasing domination of Cloud-based services: The rise in the domination of the cloud segment is attributed to increasing technological integration and surging digital usage by consumers post COVID-19. In coming years, this segment is estimated to contribute to the majority share as businesses are shifting to hybrid model wherein a lot of importance is given to data security as consumers opt for WFH model.
Government Initiatives: Increased digital usage led to the government's strategy to form a National Cybersecurity Authority in 2017 with the aim of overseeing cybersecurity infrastructure in the country positively contributes in the development of cybersecurity market in KSA. In 2020, Saudi Arabia ranked second in the Global Cybersecurity Index. The Government has made it mandatory for all Cybersecurity companies to register themselves with National Authority.
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 vs 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
By User (By Revenue), 2021 and 2026F
Medium and Small Enterprises
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By Industry (By Revenue), 2021 and 2026F
Others includes food industry and more
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Key Target Audience
Banking and Financial Institutions
Cybersecurity Service Providers
Time Period Captured in the Report:
Historical Period: 2016-2021
Forecast Period: 2021-2026
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: -