Market Insights Technology Cybersecurity Cyber Solutions

Data Security - Saudi Arabia

Saudi Arabia

The Data Security market in Saudi Arabia is expected to see a significant increase in revenue over the coming years.
By 2024, the projected revenue is estimated to reach US$11.63m.
This growth is likely to continue, with an anticipated annual growth rate (CAGR 2024-2029) of 11.82%.
As a result, the market volume is projected to reach US$20.33m by 2029.
When it comes to spending per employee in the Data Security market, the average is expected to reach US$0.70 in 2024.
This metric provides insight into the level of investment in the sector and can be used to assess its overall health and growth potential.
In a global comparison, United States is expected to generate the most revenue in the Data Security market.
In 2024, the projected revenue for the United States alone is estimated to be a staggering US$2,891.0m.
This highlights the importance and dominance of the US market in the Data Security market sector.
Overall, the Data Security market in Saudi Arabia shows promising growth potential, and with the right strategies and investments, it can become a significant player in the global market.
Saudi Arabia is rapidly investing in advanced technologies and cybersecurity measures to protect its data infrastructure.

Key regions: Brazil, Saudi Arabia, Chile, Germany, Belgium

Market

Region

Region comparison

Currency

Methodology

Data coverage:

Data encompasses B2C, B2B and B2G enterprises. Figures are based on security spending excluding VAT and the number of cyberattacks.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial statements of the market-leading companies and industry associations, national statistical offices, and specific countries’ security organizations (e.g., German Cyber Security Council, Canadian Centre for Cyber Security). Furthermore, we use relevant key market indicators and data from country-specific associations, such as GDP and internet penetration. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. Possible techniques are, for example, exponential trend smoothing and the autoregressive integrated moving average (ARIMA) forecasting algorithm. The main drivers are GDP, internet users, level of digitization, and consumer attitude towards data and IT security.

Additional notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.