DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Cyber Security Market Size Analysis - Market Share, Forecast Trends and Outlook Report (2025-2034)" has been added to ResearchAndMarkets.com's offering.
The Saudi Arabia cyber security market, valued at USD 4.70 billion in 2024, is expected to escalate to a robust USD 11.54 billion by 2034, experiencing a CAGR of 9.40% between 2025 and 2034.
Ranked second globally in the Global Cybersecurity Index by the International Telecommunication Union, Saudi Arabia's cyberspace excels due to strategic efforts by the National Cybersecurity Authority (NCA). The NCA enforces the National Information Security Strategy, enhancing cybersecurity stability, reducing risks, developing local talent, and propelling industry capabilities.
The Kingdom's focus on cybersecurity sees significant investment, including $1.2 billion to train around 100,000 professionals. Notably, women hold 45% of cybersecurity positions, aligning with Saudi Vision 2030's employment objectives. The high cost of cyberattacks in Saudi Arabia, exceeding the global average by 69%, underscores the urgency for investing in cyber resilience, education, and technological innovations.
Key Trends and Developments
Digital technology adoption, regulatory advancements, and technological innovation are driving market growth. In May 2024, the NCA launched a National Program for Research, Development, and Innovation in cybersecurity to revolutionize the industry's landscape. Additionally, collaborations with international entities, as seen with companies like AhnLab Inc. and Resecurity, target technology localization and deployment.
Increasing Use of Digital Technology
The surge in digital technologies and e-commerce heighten cyberattack risks, necessitating comprehensive cybersecurity solutions. The Saudi Vision 2030, focusing on economic diversification and public sector development, is fostering digital transformation and cybersecurity infrastructure deployment.
Evolving Data Privacy Regulations
Stringent data laws, like the Saudi Personal Data Protection Law, are increasing compliance-driven cybersecurity solution demand. This aligns with the technological evolution and innovations sector, which includes AI, IoT, machine learning, and 5G technologies, amplifying cyber threats and driving the need for advanced cyber defense solutions.
Saudi Arabia Cyber Security Market Trends
Government initiatives are promoting cybersecurity technology localization and innovation, supporting economic diversification and robust security frameworks. Advanced technologies—AI, blockchain, and quantum cryptography—are being adopted to enhance security measures against cyber threats.
Saudi Arabia Cyber Security Industry Segmentation
The market is categorized by offering into solutions and services, by deployment mode into on-premises and cloud, and by organization size and security type, each addressing distinct operational needs across various verticals from BFSI to manufacturing.
Makkah accounted for 17% of the market share in 2023, expected to grow at a 10.8% CAGR due to bolstered data protection laws. As cyber risks rise, cybersecurity demands in Saudi organizations increase, with leading companies like IBM, Cisco, Oracle, and Salesforce advancing market solutions.
Companies Featured in the Report:
- IBM Corp.
- HP Inc.
- Cisco Systems Inc.
- Salesforce Inc.
- Oracle Corp.
- Dell Inc.
- Fortinet Inc.
- McAfee LLC
- Al Moammar Information Systems Co. (MIS)
- Palo Alto Networks Inc.
For more information about this report visit https://www.researchandmarkets.com/r/h3uai5
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