Saudi Arabia Cyber Security Market (2020-2026)
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Saudi Arabia Cyber Security Market (2020-2026): Market Forecast By Type(Consumer Software, Enterprise Cyber Security Products (Identity Access Management (IAM), Data Loss Prevention (DLP), Endpoint Protection, Firewall, Intrusion Prevention System (IPS), Secure Email Gateway (SEG), Secure Web Gateway (SWG), Security Information And Event Management (SIEM), Testing & Other Software (DDoS, Risk And Compliance, Etc.)), Enterprise Cyber Security Services (Managed Security Services, Government And Defence, BFSI, Retail, Hospitality And Healthcare, IT And Telecom, Energy Utilities, Manufacturing, Others (Water Treatment Plants, Chemical Industry Etc.), By Regions (Central, Western, Eastern, Southern) And Competitive Landscape
Saudi Arabia Cybersecurity Market is anticipated to witness strong growth over the coming years owing to the rapid increase in cyber-attacks and threats and growing adoption of cloud computing, IoT across various industries. Furthermore, growing awareness about cybersecurity products and government regulations mandating cybersecurity governance such as Cyber Security Framework by SAMA (Saudi Arabian Monetary Authority) would also supplement the growth of the market in the coming years. However, the ongoing global pandemic COVID-19 is expected to hamper the overall economic growth of Saudi Arabia, thus, restraining the growth of the cybersecurity market of Saudi Arabia as well.
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Saudi Arabia Cyber Security Market
Saudi Arabia Cyber Security Market is projected to grow at a CAGR of 12.4% during 2020-26. Saudi Arabia’s natural resources and the geopolitical tensions of the Middle Eastern region have made Saudi Arabia one of the prime targets for hackers. These developments have necessitated private and public sector enterprises to boost their cyberinfrastructure in order to protect their data. This has also led to massive government investment in the IT sector to boost cybersecurity across various domains. Additionally. Saudi Arabia has identified cybersecurity as one of the key goals in its National Transformation Program 2020.
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Last Update : Jun 18, 2020 4:07 AM
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