Saudi Arabia’s cybersecurity market hit SR13.3bn ($3.5bn) in 2023, according to a new report.
The National Cybersecurity Authority (NCA) released its 2024 report to showcase key economic indicators within Saudi Arabia’s cybersecurity sector.
The report highlights the sector’s size, its contribution to the Kingdom’s GDP, the total cybersecurity workforce, and other metrics that underscore the sector’s growth and its pivotal role in advancing cybersecurity in the Kingdom.
Cybersecurity in Saudi Arabia
The report highlights the remarkable growth of Saudi Arabia’s cybersecurity market, which reached SR13.3bn ($3.5bn) in 2023. This expansion underscores the Kingdom’s commitment to advancing cybersecurity across both public and private sectors.
According to the report, private sector expenditure accounted for SR9.3bn ($2.5bn/69 per cent) of the total spend, showcasing the vital role of public-private collaboration in driving the cybersecurity industry forward.
Cybersecurity products and solutions comprised 56 per cent of Saudi Arabia’s SR13.3bn ($3.5bn) market, valued at SR7.5bn ($2bn). Cybersecurity services accounted for 44 per cent, or SR5.8bn ($1.5bn).
Key offerings include network security, systems integration, endpoint security, managed security operations centres, and cloud security.
The cybersecurity sector’s contribution to the Kingdom’s GDP reached SR15.6bn ($4.2bn) in 2023, with SR8.6bn ($2.3bn) from direct contributions and SR7bn ($1.9bn) from indirect contributions.
Additionally, by the end of 2023, the number of providers of cybersecurity products, solutions, and services registered with NCA reached 353. This growth reflects the expanding ecosystem of the Kingdom’s cybersecurity products, solutions, and services.
Despite global challenges in attracting qualified cybersecurity professionals, with women making up just 25 per cent of the global sector workforce, the report shows that Saudi Arabia’s cybersecurity sector has 19,600 cybersecurity professionals, with women representing more than 32 per cent.
This statistic exceeds the global average by 28 per cent, highlighting the Kingdom’s progress in gender diversity within the field.
The NCA announced that the report was developed over two years in collaboration with top consulting firms and local and international experts.
It uses a robust methodology to highlight key economic indicators in Saudi Arabia’s cybersecurity sector. The report also classifies over 100 categories of cybersecurity products, solutions, and services aligned with global best practices.
As the national authority for cybersecurity in the Kingdom of Saudi Arabia, NCA is the central reference for all cybersecurity matters. Its mission is to enhance the Kingdom’s cybersecurity posture, safeguarding vital interests, national security, critical infrastructure, and government services.
Follow us on
