Saudi Arabia Cybersecurity Market to grow at a CAGR of 18.73% through 2027
Increasing government initiatives such as Vision 2030 and the National Transformation program 2020 for digital infrastructure in the country and increasing investment in cybersecurity are expected to drive the Saudi Arabia Cybersecurity Market through forecast period. According to TechSci Research report, “ Saudi Arabia Cybersecurity Market - Industry Size, Share, Trends, Competition, Forecast & Opportunities, 2017- 2027F ” , the Saudi Arabia cybersecurity market stood at USD3749.40 million in 2021 and is expected to register a CAGR of 18.73% to reach USD10645.13 million by 2027. The market is primarily driven by the rise in the usage of cloud services and the internet of things among enterprises and the expansion of 5G technology. The government is taking significant steps to raise awareness about cyber-risks and their expected effect on the system. The launch of the Indicative Center for Cybersecurity by the government to issue alerts for cyber-security-based con...