Saudi Arabia Cyber Security Market Size & Outlook
Saudi Arabia cyber security market, 2018-2030 (US$M)
Related Markets
Saudi Arabia cyber security market highlights
- The Saudi Arabia cyber security market generated a revenue of USD 3,832.0 million in 2023 and is expected to reach USD 8,458.3 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 12% from 2024 to 2030.
- In terms of segment, services was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
Cyber security market data book summary
| Market revenue in 2023 | USD 3,832.0 million |
| Market revenue in 2030 | USD 8,458.3 million |
| Growth rate | 12% (CAGR from 2023 to 2030) |
| Largest segment | Services |
| Fastest growing segment | Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
| Key market players worldwide | BAE Systems PLC, Broadcom Inc, Check Point Software Technologies Ltd, Cisco Systems Inc, Fortinet Inc, International Business Machines Corp, Lockheed Martin Corp, LogRhythm, McAfee, Palo Alto Networks Inc, Proofpoint, Sophos, Trend Micro Inc |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 1.7% of the global cyber security market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa cyber security market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 9,035.6 million by 2030.
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Cyber Security Market Scope
Cyber Security Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia cyber security market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cyber security market will help companies and investors design strategic landscapes.
Services was the largest segment with a revenue share of 50.53% in 2023. Horizon Databook has segmented the Saudi Arabia cyber security market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
The market growth in Saudi Arabia can be attributed to the adoption of advanced technologies, such as IoT, AI, and ML, and the deployment of 5G technology. Organizations in Saudi Arabia are constantly deploying new technologies, such as cloud computing, artificial intelligence, and machine learning.
As a result, the demand for outsourcing managed security services is also surging among organizations in the country. Furthermore, the government of Saudi Arabia has introduced various security programs, including the National Cybersecurity Authority (NCA), which offers both operational and regulatory functions related to cybersecurity.
NCA works closely with private and public entities to strengthen the cybersecurity positioning of the country to safeguard national security, high-priority sectors, vital interests, government services, and critical infrastructures in alignment with Vision 2030.
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Our clientele includes a mix of cyber security market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia cyber security market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia cyber security market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia cyber security market size, by component, 2018-2030 (US$M)
Saudi Arabia Cyber Security Market Outlook Share, 2023 & 2030 (US$M)
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