2024 NCA Report: Saudi Arabia's Cybersecurity Market Reaches SAR13.3 Billion

The National Cybersecurity Authority (NCA) has unveiled its 2024 report, detailing significant economic indicators in Saudi Arabia's cybersecurity sector. The document outlines the sector's size, its GDP contribution, workforce statistics, and other metrics that highlight its growth and importance in enhancing the Kingdom's cybersecurity landscape.

Saudi Arabia's cybersecurity market saw substantial growth, reaching SAR13.3 billion in 2023. This increase demonstrates the Kingdom's dedication to improving cybersecurity across both public and private sectors. Private sector spending was SAR9.3 billion, making up 69% of the total expenditure, underscoring the importance of public-private partnerships in advancing the industry.

The breakdown of the SAR13.3 billion market shows that cybersecurity products and solutions accounted for 56%, valued at SAR7.5 billion. Meanwhile, cybersecurity services made up 44%, or SAR5.8 billion. Key offerings include network security, systems integration, endpoint security, managed security operations centers, and cloud security.

The cybersecurity sector contributed SAR15.6 billion to Saudi Arabia's GDP in 2023. Of this amount, SAR8.6 billion came from direct contributions while SAR7 billion resulted from indirect contributions. By the end of 2023, there were 353 registered providers of cybersecurity products, solutions, and services with NCA, reflecting a growing ecosystem within the Kingdom.

Workforce Diversity

Despite global challenges in attracting qualified professionals to the field of cybersecurity—where women represent just 25% globally—Saudi Arabia has made notable progress. The report reveals that the Kingdom's cybersecurity sector employs 19.6K professionals, with women making up over 32%. This figure surpasses the global average by 28%, highlighting advancements in gender diversity within the industry.

The NCA developed this comprehensive report over two years in collaboration with leading consulting firms and experts from both local and international spheres. It employs a robust methodology to present key economic indicators within Saudi Arabia's cybersecurity sector and classifies over 100 categories of products, solutions, and services according to global best practices.

NCA’s Role and Mission

As Saudi Arabia's national authority on cybersecurity, NCA serves as the central reference point for all related matters within the Kingdom. Its mission is to bolster Saudi Arabia's cybersecurity posture by protecting vital interests, national security, critical infrastructure, and government services. Additionally, NCA aims to drive sector growth by fostering innovation and encouraging investment in cyberspace.

This detailed report underscores Saudi Arabia’s commitment to strengthening its cybersecurity framework through strategic investments and collaborations between public and private sectors. The focus on gender diversity also highlights progressive steps toward inclusivity within this crucial industry.

With inputs from SPA