Saudi Arabia’s cybersecurity market has experienced significant growth, reaching SAR 13.3 billion (USD 3.5 billion), according to the latest report from the National Cybersecurity Authority (NCA).
The sector contributes 0.39% to the country’s overall GDP and 0.81% to the non-oil GDP, underscoring the pivotal role of cybersecurity in the Kingdom’s economy.
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Market Structure and Classification
The private sector companies are dominating the Saudi Arabian cybersecurity market, accounting for 69% (SAR 9.2B), while government entities have contributed 31% (SAR 4.1B) thus far. A substantial 83% of these entities concentrate their efforts on cybersecurity demands in key regions, including Riyadh, Makkah, and the Eastern Region.
Among the Kingdom’s 19,600 cybersecurity professionals, women account for 32%, emphasizing the country’s ongoing efforts to bridge the gender gap in technology. Notably, in 2023, MTN’s Celia Mantshiyane, emphasized that the global cybersecurity sector needs more “women mentors.”
The report highlighted that the cybersecurity market in the Kingdom is divided according to various classifications (either cybersecurity products, solutions, or services) and encompasses network security, cybersecurity system integration, endpoint security and management, managed security operations center, and cloud security.
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These key cybersecurity products and solutions contributed to 56% of the market size, culminating in a value of SAR 7.5 billion, while the market size share of cybersecurity services accounted for 44%, valued at SAR 5.8 billion.
In addition, the NCA detailed 353 registered cybersecurity products and services providers in the country, categorizing them as follows: 11 large entities, 37 medium entities, 273 small entities, and 32 micro entities.
The research study, produced through the collaboration of NCA, Boston Consulting Group (BCG) and the International Data Corporation (IDC), delivers a comprehensive outlook of Saudi Arabia’s cybersecurity market, highlighting the sector’s significance in accelerating economic growth and enhancing cybersecurity measures.
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