KSA Cybersecurity Market Has Been Experiencing Massive Growth, Owing to Global Pandemic, Government Initiatives & Others REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit KSA Cybersecurity Market experienced a massive uptick, growing at a CAGR of 18.9% as a result of Government initiatives & Global Pandemic among other factors The Y-o-Y growth in the period between 2019-23 has experienced a massive upsurge attributed to the advent of the global pandemic. A major reason behind this was the WFH set-up that was promoted for a while therby increasing the requirement of cybersecurity measures to be implemented. Furthermore, given the serious nature of cyberattacks being carried out towards a number of sectors, the government has been implementing stringent regulations such as ECC & Cybersecurity framework to shield the sensitive data of various companies. All in all, cybersecurity market in KSA is growing at a steady rate. Get the Free Sample Report 2.KSA’s Cybersecurity Market requires a shift from being product centric to consumer centric for it to tackle various market restraints which the end users face Threat of New Entrants: There’s a high theat of new Entrants attributed to the non-existence of entry barriers . Moreover, rapid technological advancements & lucrative nature of the market serve as magnets for budding start-ups. Bargaining power of buyer: There’s a high bargaining power available to consumers as a result of various domestic & international players operating in the eco-system ultimately lowering the overal costs for the end user. Competition Rivalry: The Cybersecurity market in KSA is highly fragmented with various players competing for the top spot in the market on the basis of price & maintenance fee, services & solutions provided & brand image. Bargaining power of Suppliers: The scenario is not at the side of suppliers when it comes to their bargaining power owing to the cut-throat competition between several players operating in the ecosystem simultaneously. Substitute Products: Lack of differentiation of services & solutions leads to lower threat of substitution in the existing market. Expansion of internet and 5G services, increasing demand for big data and acceleration towards digital transformation are the major developments in the KSA Cybersecurity Market Increasing demand for Big Data: Big data adoption by enterprises and businesses in recent times creates a challenge to security information and event management (SIEM) as there is chunk of data being generated by the web, email, and social media applications. Therefore, these enterprises are looking to implement strong cybersecurity measures, which will result in the growth of this market in coming years. Acceleration towards digital transformation: At LEAP 2022 in Saudi Arabia, the largest tech event in the country, investments of over USD 6.4 Bn was announced in future technologies and entrepreneurship. Massive investment in technological innovation serve as a major catalyst for the cybersecurity market in KSA. Growing Healthcare Industry: Healthcare cyber security firms in Saudi Arabia provide healthcare institutions with cyber security services and solutions to secure their hospitals and patient information from data breaches and cyber-attacks. Healthcare is an attractive target for cybercriminals as medical data is between ten and twenty times more lucrative than credit card or banking details. Therefore, the growth in healthcare industry subsequently contributed in accelerating the cybersecurity market in Saudi Arabia. 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