The National Cybersecurity Authority (NCA) has released its 2024 report, highlighting key economic indicators in Saudi Arabia’s cybersecurity sector. The report reveals that the sector reached a market value of SAR 13.3 billion in 2023, reflecting the Kingdom’s dedication to strengthening cybersecurity across both public and private sectors. Notably, private sector spending accounted for SAR 9.3 billion, emphasizing the importance of public-private partnerships in advancing the industry.
Cybersecurity products and solutions dominated the market, making up 56% of the total value at SAR 7.5 billion, while services accounted for 44%, or SAR 5.8 billion. These offerings included network security, systems integration, endpoint security, managed security operations centers, and cloud security.
The cybersecurity sector contributed SAR 15.6 billion to Saudi Arabia’s GDP in 2023, with SAR 8.6 billion from direct contributions and SAR 7 billion from indirect contributions. By the end of 2023, 353 providers of cybersecurity products, solutions, and services were registered with the NCA, underscoring the sector’s rapid expansion.
Despite global challenges in attracting qualified professionals, the report highlights Saudi Arabia’s progress in gender diversity within the cybersecurity workforce. With 19,600 cybersecurity professionals in the sector, women represent over 32% of the workforce, surpassing the global average of 25%.
Developed in collaboration with top consulting firms and experts, the report offers a comprehensive analysis of over 100 categories of cybersecurity products, solutions, and services, aligned with global best practices. The NCA, as the national authority for cybersecurity, plays a crucial role in enhancing the Kingdom’s cybersecurity posture, protecting critical infrastructure, and fostering innovation and investment in the sector.
