Spending on Saudi cybersecurity market likely to hit $800mln

Saudi cybersecurity market would increase at a compound annual growth rate (CAGR) of 12.4%

  
Image used for illustrative purpose.

Image used for illustrative purpose.

Getty Images/Nakhorn Yuangkratoke / EyeEm

Riyadh – Mubasher: Saudi Arabia’s cybersecurity market is expected to witness a 13% growth in spending in the coming years.

Spending on the Saudi cybersecurity industry is anticipated to reach SAR 3 billion on an annual basis in line with the current digital transformation in the Kingdom, according to a press release by the Saudi Telecom Company (stc).

A research previously forecast that the Saudi cybersecurity market would increase at a compound annual growth rate (CAGR) of 12.4% during the period between 2020 and 2026.

Source: Mubasher

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