Report

Saudi Arabia cybersecurity market is expected to grow at a steady CAGR of 18.73% in the forecast period to reach a value of USD10645.13 million by 2027. High-end investments by the public and private players in the purchase of advanced cybersecurity solutions and favorable policies and initiatives by the government to raise awareness about the cyber risks are the primary driving factors for the Saudi Arabia cybersecurity market. Also, the growing complexities in the digital communication networks and the massive surge in the user base of online consumers are expected to create significant growth opportunities for the Saudi Arabia cybersecurity market over the next five years.

Saudi Arabia has abundant oil & gas resources, which is the major revenue-generating industry for the country. The continuous decline in crude oil price makes the leading authorities adopt measures to reduce the dependency on the oil & gas industry and generate new income sources. The rapid adoption of advanced technologies like the internet of things and cloud computing technology to improve the efficiency and cost-efficiency in organizations is expected to fuel the demand for cybersecurity solutions. Also, the rise in awareness about the benefits of implementing cyber security solutions in enterprises and the availability of multi-person and affordable cybersecurity solutions in the market is expected to accelerate Saudi Arabia's cybersecurity market growth over the next five years.

Saudi Arabia cybersecurity market is segmented into security type, solution type, deployment mode, end-user industry, regional distribution, and competitive landscape. Based on security type, the market is segmented into network security, application security, cloud security, endpoint security, content security & others. Network security was the dominant segment in 2021 and accounted for a share of 24.88% of the overall market. The government is allocating huge funds to develop information technology infrastructure, which is boosting the network security segment growth.

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, Trellix, Trend Micro Incorporated, Al Moammar Information Systems Co., NEC Saudi Arabia Ltd., Tenable, Inc., Hewlett Packard Enterprise Development LP, Check Point Software Technologies Ltd., NortonLifeLock Inc. are the major market players operating in the Saudi Arabia cybersecurity market.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F-2027F
Objective of the Study:
- To analyze the historical growth in the market size of the Saudi Arabia cybersecurity market from 2017 to 2021.
- To estimate and forecast the market size of Saudi Arabia cybersecurity market from 2022E to 2027F and growth rate until 2027F.
- To classify and forecast the Saudi Arabia cybersecurity market based on security type, solution type, deployment mode, end-user industry, regional distribution, and competitive landscape.
- To identify the dominant region or segment in the Saudi Arabia cybersecurity market.
- To identify drivers and challenges for the Saudi Arabia cybersecurity market.
- To examine competitive developments such as expansions, new services, mergers & acquisitions, etc., in the Saudi Arabia cybersecurity market.
- To identify and analyze the profiles of leading players operating in the Saudi Arabia cybersecurity market.
- To identify key sustainable strategies adopted by market players in the Saudi Arabia cybersecurity market.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of the Saudi Arabia cybersecurity market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these services for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Cybersecurity service providers
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances related to cybersecurity
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, Saudi Arabia Cybersecurity Market has been segmented into the following categories in addition to the industry trends which have also been listed below:
- Saudi Arabia Cybersecurity Market, By Security Type:
o Network Security
o Cloud Security
o Application Security
o Endpoint Security
o Content Security
o Others (operational security, e-mail security, etc.)
- Saudi Arabia Cybersecurity Market, By Solution Type:
o Firewall
o Antivirus & Antimalware
o Risk & Compliance Management
o Identity & Access Management
o Data Loss Prevention
o Unified Threat Management
o Intrusion Detection/Prevention System
o Infrastructure Security
o Encryption & Decryption
o Others (Denial-of-service attack, malware, man-in-the-middle-attack, drive-by-downloads, etc.)
- Saudi Arabia Cybersecurity Market, By Deployment Mode:
o Cloud
o On-premises
- Saudi Arabia Cybersecurity Market, By End-User Industry:
o Government
o BFSI
o Corporates/Private Organizations
o Retail
o Healthcare
o Education Technology
o Others (Manufacturing, automobile, etc.)
- Saudi Arabia Cybersecurity Market, By Region:
o Central
o Western
o Eastern
o Rest of Saudi Arabia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia Cybersecurity Market.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia cybersecurity market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five)