The Saudi Arabia Cybersecurity Market size is estimated at USD 4.63 billion in 2024, and is expected to reach USD 6.65 billion by 2029, growing at a CAGR of 7.52% during the forecast period (2024-2029).
The widespread adoption of remote working regimes by SMEs and large enterprises has contributed to increased network security threats in Saudi Arabia. Saudi enterprises have been increasingly investing in network security tools and equipment, which is expected to boost the country's cybersecurity market.
The Saudi Arabian cybersecurity market is semi-consolidated and dominated by a few major players like Palo Alto Networks Private Limited, McAfee Corporation, International Business Machine Corporation (IBM), Cisco Systems, Inc., and NortonLifeLock Inc. These major players, with a prominent share of the market, are focusing on expanding their customer base across foreign countries.
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