Saudi Arabia Cybersecurity Market, By Security Type (Network Security, Application Security, Cloud Security, Endpoint Security, Content Security & Others), By Solution Type (Firewall, Antivirus & Malware, Risk & Compliance Management, Identity & Access Management, Data Loss Prevention, Unified Threat Management, Encryption & Decryption, Intrusion Detection/Prevention System, Infrastructure Security & Others), By Deployment Mode (Cloud & On-premises), By End-User Industry (Government, BFSI, Corporates/Private Organizations, Retail, Healthcare, Education Technology & Others), By Region, By Top Emirates, Competition, Forecast & Opportunities, 2016-2026F
Saudi Arabia Cybersecurity Market was valued at USD3618.90 million in 2020 and is expected to grow at a CAGR of 17.98% to reach the value of USD9845.26 million by 2026. The surge in efforts by the government to diversify the income sources and reduce the dependency on the oil industry, growing digitization of public and private institutions, and increasing concerns about cyber-attacks are the primary factors driving the demand for Saudi Arabia Cybersecurity Market in the forecast period.
High-end investments by the government for the development of the IT infrastructure of the country and the imposition of strict government regulations emphasizing the need for cybersecurity solutions to secure confidential public data are accelerating the demand for cybersecurity solutions in the country. The onset of COVID-19 contributed significantly to increasing the growth of Saudi Arabia Cybersecurity Market as the organizations provided the facility of work from home to their employees to protect them from getting infected. The shift to digital remote platforms increased the organizations' spending on advanced cybersecurity solutions to ensure data privacy and security. Rapid advancements in the technology, adoption of advanced technologies such as IoT, artificial intelligence, and deployment of 5G technology are expected to create lucrative growth opportunities for the Saudi Arabia Cybersecurity Market in the forecast period.
Saudi Arabia Cybersecurity Market is divided into security type, solution type, deployment mode, end-user industry, company, and regional distribution.
Based on deployment mode, the market is bifurcated into cloud and on-premises. The cloud model is expected to hold the largest market share in the forecast period. The rapid adoption of cloud technology by organizations and institutions as they offer several advantages over on-premises models such as scalability, flexibility, and affordability are driving the demand for cloud technology throughout the forecast period.
Some of the major market players of Saudi Arabia Cybersecurity Market are International Business Machine Corporation (IBM), McAfee Corp., Cisco Systems, Inc., Palo Alto Networks, Inc., NortonLifeLock Inc., FORTINET, INC., Dell Technologies Inc., Check Point Software Technologies Ltd, Salesforce.com, Inc., Trend Micro, Inc, FireEye, Inc., Al Moammar Information Systems Co. (MIS)., Tenable, Inc., Hewlett Packard Enterprise Development LP, and NEC Corporation.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026
Objective of the Study:
- To analyze the historical growth in the market size of Saudi Arabia Cybersecurity Market from 2016 to 2020.
- To estimate and forecast the market size of Saudi Arabia Cybersecurity Market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast Saudi Arabia Cybersecurity Market based on security type, solution type, deployment mode, end-user industry, company, and regional distribution.
- To identify dominant region or segment in the Saudi Arabia Cybersecurity Market.
- To identify drivers and challenges for Saudi Arabia Cybersecurity Market.
- To examine competitive developments such as expansions, new services, mergers & acquisitions, etc., in Saudi Arabia Cybersecurity Market.
- To identify and analyze the profile of leading players operating in Saudi Arabia Cybersecurity Market.
- To identify key sustainable strategies adopted by market players in 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 Saudi Arabia. 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 who 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 Saudi Arabia.
TechSci Research calculated the market size of 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 and applications 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 provider companies
- 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, and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, the Saudi Arabia Cybersecurity Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Saudi Arabia Cybersecurity Market, By Security Type:
- Network Security
- Application Security
- Cloud Security
- Endpoint Security
- Content Security
- Saudi Arabia Cybersecurity Market, By Solution Type:
- Antivirus & Anti Malware
- Risk & Compliance Management
- Identity & Access Management
- Data Loss Prevention
- Unified Threat Management
- Encryption & Decryption
- Intrusion Detection/Prevention System
- Infrastructure Security
- Saudi Arabia Cybersecurity Market, By Deployment Mode:
- Saudi Arabia Cybersecurity Market, By End-User Industry:
- Corporates/Private Organizations
- Education Technology
- Saudi Arabia Cybersecurity Market, By Region:
- Rest of Saudi Arabia
Company Profiles: Detailed analysis of the major companies present in the Saudi Arabia Cybersecurity Market.
- Detailed analysis and profiling of additional market players (up to five).
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