Saudi Arabia Data Protection Market By Component (Solutions and Services), By Deployment Mode (Cloud and On-Premises), By Organization Size (Large Organization and Small and medium-sized enterprises), By Industry Vertical (Government and Defense, BFSI, He

Saudi Arabia Data Protection Market By Component (Solutions and Services), By Deployment Mode (Cloud and On-Premises), By Organization Size (Large Organization and Small and medium-sized enterprises), By Industry Vertical (Government and Defense, BFSI, Healthcare, IT & Telecom, Consumer Goods and Retail, Education, Media and Entertainment & Others), By Region, Competition Forecast & Opportunities, 2018-2028F

Saudi Arabia Data Protection Market is expected to register an exceptional CAGR during the forecast period. Significant increase in information storage over the cloud, need for reducing the operational cost, improved ability for convenient and timely backup of host destination system and growing data storage risk are aiding the Saudi Arabia data protection market. Moreover, increasing instances of unauthorized access, ransomware, and cyber-attacks, growing adoption of solutions, and increasing scalability and flexibility of security offerings are some of the other factors, which are expected to propel the demand for data protection in Saudi Arabia over the forecast years.

The data protection market in Saudi Arabia is expected to grow significantly in the coming years due to the country's increasing focus on data protection regulations and cybersecurity. With the rise of digital transformation in the country, there has been a surge in the amount of data generated, processed, and stored by organizations. This has led to an increased need for data protection and security solutions to safeguard sensitive data from cyber threats. In recent years, the Saudi Arabian government has taken several initiatives to enhance data protection in the country. For example, in 2019, the government launched the National Cybersecurity Authority (NCA) to strengthen cybersecurity measures and protect critical infrastructure. Additionally, in 2020, the Data Protection Law (DPL) was introduced to regulate the processing of personal data and ensure data privacy for individuals. The implementation of these regulations has led to an increased demand for data protection solutions in the country. The market is expected to grow at a significant rate in the coming years, driven by factors such as increasing cyber threats, rising awareness about data protection, and the adoption of advanced technologies such as cloud computing and artificial intelligence.

Overall, the Saudi Arabia data protection market is expected to grow significantly in the coming years, driven by increasing regulations and cybersecurity threats. Organizations are increasingly realizing the importance of data protection and are investing in advanced solutions to safeguard their data and protect themselves from cyber-attacks.

The process of protecting critical data from loss, theft, and corruption is known as data protection. As data creation and storage continue to expand at previously unheard-of rates, data protection becomes more and more crucial. Therefore, ensuring that data can be quickly restored after any loss or corruption is a key component of a data protection strategy. Data protection also includes safeguarding data against compromise and ensuring data privacy.

The increasing volume of data generated in enterprises daily, combined with organizations’ growing embrace of cloud computing, is driving demand for data protection and recovery, which is a primary factor driving the Saudi Arabia data protection market. Increased organizational awareness of data integrity and technological advancements in data protection systems and software are two additional key factors that are likely to spur growth of the Saudi Arabia data protection market during the forecast period. Every day, massive amounts of data are transported, stored, and acquired all over the world, including Saudi Arabia, enabling massive advancements in computing and communication capability.

Personal data has become the driving force behind much of the new online activity in the global information economy. Every day, massive amounts of information are transmitted, stored, and gathered around the world, enabling massive advances in computing and communication power. As more economic and social activities move online, greater emphasis is being placed on data privacy and protection, particularly in the context of international trade, which is assisting market growth. Many organizations have adopted cloud computing, which has resulted in increased data management concerns.

Increase in government support and laws towards data protection solutions

The Saudi Arabian government has shown an increasing interest in supporting data protection solutions and enacting laws to enhance cybersecurity in the country.

In 2019, the Saudi Arabian Monetary Authority (SAMA) introduced new regulations for the protection of electronic payment data. The regulations required financial institutions to implement adequate security measures to protect customer data and mandated the reporting of any data breaches to the authorities within 24 hours. In addition, the Saudi Data and Artificial Intelligence Authority (SDAIA) was established in 2019 to oversee the implementation of the country's national strategy for data and AI. The authority is tasked with promoting the responsible use of data and ensuring the protection of personal information.

Rising concerns about cyber security, as well as rising government spending on security solutions, are expected to generate profitable market growth opportunities during the forecast period. The Saudi Data and AI Authority (SDAIA) published an amended version of the Kingdom of Saudi Arabia's Personal Data Protection Law (PDPL) for consultation on November 20, 2022. The Amended Draft includes significant changes that are largely pro-business, such as easing strict data localization requirements and introducing a form of legitimate interests as a legal basis for processing. The formation of the National Cybersecurity Authority in 2017 to oversee the nation's cybersecurity infrastructure because of rising digital usage has positively influenced the growth of the data protection market in the Kingdom of Saudi Arabia. The government has mandated that all data protection firms register with the National Authority. The Saudi government has also invested in the development of cybersecurity infrastructure and capabilities. For example, the National Cybersecurity Authority (NCA) was established in 2017 to oversee cybersecurity efforts in the country, and the Saudi Federation for Cybersecurity, Programming and Drones was launched in 2018 to promote cybersecurity awareness and education.

The Saudi Arabian government's increased support and laws towards data protection solutions reflect a growing recognition of the importance of cybersecurity and data privacy in today's digital age.

Mobile Phone Adoption and Increased Internet Connectivity in Saudi Arabia

Saudi Arabia has seen a significant increase in mobile phone adoption and internet connectivity in recent years, driven by several factors, including a growing population, rising smartphone usage, and government initiatives to expand internet infrastructure.

According to a report by the Communications and Information Technology Commission (CITC), the telecommunications regulator in Saudi Arabia, the country had a total of 44.1 million mobile subscribers in Q2 2021, with a mobile penetration rate of 126.1%. This represents a significant increase from just a decade ago, when the mobile penetration rate was around 70%.

The increase in mobile phone adoption and internet connectivity in Saudi Arabia has been accompanied by a growing demand for digital services, including e-commerce, mobile banking, and social media. To support the growth of mobile phone adoption and internet connectivity in the country, the Saudi government has launched a number of initiatives to expand internet infrastructure, including the launch of the Saudi National Fiber Network (SNFN) and the deployment of 5G networks. These initiatives are expected to further accelerate the adoption of mobile phones and internet connectivity in Saudi Arabia in the coming years.

Cyber-attack Statistics in Saudi Arabia

• In 2020, the Saudi National Cybersecurity Authority (NCA) reported that it had thwarted more than 160 million cyber-attacks on government and private sector networks in the country during the first half of the year. The NCA also stated that the most targeted sectors were government, finance, and energy.
• In 2019, a group of hackers known as OilRig targeted several Saudi Arabian companies, including a petrochemical firm, with a new form of malware known as "ZeroCleare." The attack caused significant damage to the targeted companies' systems.

Market Segmentation

Saudi Arabia Data Protection market is segmented based on component, deployment mode, organization size, industry vertical, region and competitive landscape. Based on Component, the market can be segmented into Solutions and Services. By Deployment Mode, the market is segmented into Cloud and On-Premises. Based on Organization Size, the market is further split into large organization and Small and Medium Enterprises (SMEs). By Industry Vertical, the market can be segmented into Government and Defense, BFSI, Healthcare, IT & Telecom, Consumer Goods and Retail, Education, Media, and Entertainment & Others. By Region, the market is segmented into Central and Northern, Western, Eastern, and Southern.

Market Players

Major market players in the Saudi Arabia Data Protection market are Data Wide, Systems Front Information Technology Company, Moxmon, Right Way Information Solutions (RWISS), Najia Abdullatif Jameel, Aspiring Technologies Co Ltd., Cyber Content Information Technology (CCIT), Dell Inc.-Saudi Arabia, IBM Corporation- Saudi Arabia, Hewlett Packard Enterprise Development LP-Saudi Arabia, among others.

Report Scope:

In this report, the Saudi Arabia Data Protection market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Saudi Arabia Data Protection Market, By Component:
• Solutions
• Services
• Saudi Arabia Data Protection Market, By Deployment Mode:
• Cloud
• On-Premises
• Saudi Arabia Data Protection Market, By Organization Size:
• Large
• SMEs
• Saudi Arabia Data Protection Market, By Industry Vertical:
• Government and Defense
• BFSI
• Healthcare
• T & Telecom
• Consumer Goods and Retail
• Education
• Media and Entertainment
• Others
• Saudi Arabia Data Protection Market, By Region:
• Central and Northern
• Western
• Eastern
• Southern

Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Saudi Arabia Data Protection Market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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