Market Insights Technology Cybersecurity Cyber Solutions

Network Security - Saudi Arabia

Saudi Arabia

The Network Security market in Saudi Arabia is expected to see significant growth in the coming years.
According to projections, revenue in this market is set to reach US$105.40m in 2024.
This growth is expected to continue with an annual growth rate of 10.80% from 2024 to 2029.
By the end of this period, the market volume is projected to reach US$176.00m.
Additionally, the average Spend per Employee in the Network Security market is estimated to reach US$6.37 in 2024.
This indicates the level of investment and resources allocated to this sector.
In a global context, it is worth noting that United States is expected to generate the highest revenue in the Network Security market.
Projections indicate that United States will generate approximately US$10,830.0m in revenue in 2024.
These figures highlight the growth potential and importance of the Network Security market in Saudi Arabia.
The increasing revenue and investment in this sector demonstrate the country's commitment to ensuring a secure and protected digital environment.
Saudi Arabia is investing heavily in network security infrastructure to protect its critical infrastructure from cyber threats.

Key regions: United States, Germany, Saudi Arabia, Brazil, Chile

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.