The cybersecurity sector's contribution to Saudi Arabia’s GDP reached SR15.6 billion ($4.16 billion) in 2023, with SR8.6 billion from direct contributions and SR7 billion from indirect contributions.

 

Saudi Arabia's cybersecurity market, which reached SR13.3 billion in 2023, continues underscoring the kingdom's commitment to advancing cybersecurity across both public and private sectors, said the National Cybersecurity Authority (NCA), which has released its 2024 report.

 

Private sector expenditure accounted for SR9.3 billion (69%) of the total spend, showcasing the vital role of public-private collaboration in driving the cybersecurity industry forward, a Saudi Press Agency (SPA) report said.

 

Products and solutions

Cybersecurity products and solutions composed 56% of Saudi Arabia's SR13.3 billion market, valued at SR7.5 billion. Cybersecurity services accounted for 44%, or SR5.8 billion.

 

Key offerings include network security, systems integration, endpoint security, managed security operations centres and cloud security.

 

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% of the global sector workforce, the report shows that Saudi Arabia's cybersecurity sector has 19.6K cybersecurity professionals, with women representing over 32%. This figure exceeds the global average by 28%, highlighting the kingdom's progress in gender diversity within the field.

 

Developed over two years

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 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.--TradeArabia News Service