Bahrain’s cybersecurity sector is on the brink of a major expansion, with projections from a recent Mordor Intelligence report suggesting a rise to $402.16 million by 2024 and further growth to $529.89 million by 2029. This growth, marking a compound annual growth rate (CAGR) of 5.67%, is largely driven by the rapid adoption of digital transformation technologies by local businesses.
Key technologies such as artificial intelligence (AI), cloud computing, the Internet of Things (IoT), and big data analytics are fueling the demand for advanced cybersecurity solutions across the country. Dr. Jassim Haji, Chairman of the Bahrain Artificial Intelligence Society and a noted regional AI expert, has expressed optimism about the future of Bahrain’s cybersecurity landscape.
Highlighting the holistic approach adopted by the nation, Dr. Haji noted the robust demand from critical sectors including banking, finance, and telecommunications, which serve as primary drivers for this growth. He also commended the Bahraini government’s active involvement in enhancing the cybersecurity framework, specifically through the development of the National Cybersecurity Strategy and the establishment of the National Cybersecurity Centre. These initiatives are pivotal in bolstering Bahrain’s defenses against cyber threats.
