The National Cybersecurity Authority Issued “Report on Key Economic Indicators in The Cybersecurity Sector 2024”
25 August 2024
The National Cybersecurity Authority (NCA) has released its 2024 report, showcasing key economic indicators within Saudi Arabia's cybersecurity sector. The report highlights the sector's size, its contribution to the Kingdom's GDP, the total cybersecurity workforce, and other metrics that underscore the sector's growth and its pivotal role in advancing cybersecurity in Saudi Arabia.
The report highlights the remarkable growth of Saudi Arabia's cybersecurity market, which reached SAR 13.3 billion in 2023. This expansion underscores the Kingdom's commitment to advancing cybersecurity across both public and private sectors. Notably, private sector expenditure accounted for SAR 9.3 billion (69%) of the total spend, showcasing the vital role of public-private collaboration in driving the cybersecurity industry forward.
Cybersecurity products and solutions comprised 56% of Saudi Arabia's SAR 13.3 billion market, valued at SAR 7.5 billion. Cybersecurity services accounted for 44%, or SAR 5.8 billion. Key offerings include network security, systems integration, endpoint security, managed security operations centers, and cloud security.
Meanwhile, the cybersecurity sector’s contribution to the Kingdom’s GDP reached SAR 15.6 billion in 2023, with SAR 8.6 billion from direct contributions and SAR 7 billion from indirect contributions. Additionally, the number of providers of cybersecurity products, solutions and services registered with NCA reached 353 by the end of 2023. This growth reflects the expanding ecosystem of cybersecurity products, solutions, and services in the Kingdom.
Despite global challenges in attracting qualified cybersecurity professionals, with women making up just 25% of the global sector workforce, the report shows that Saudi Arabia's cybersecurity sector has 19.6K cybersecurity professionals, with women representing over 32%. This exceeds the global average by 28%, highlighting the Kingdom's progress in gender diversity within the field.
NCA announced that the report was developed in collaboration with top consulting firms and local and international experts over the period of two years. It uses a robust methodology to highlight key economic indicators in Saudi Arabia's cybersecurity sector. The report also classifies over 100 categories of cybersecurity products, solutions, and services, aligned with global best practices.
The NCA, as the national authority for cybersecurity in the Kingdom of Saudi Arabia, is the central reference for all cybersecurity matters. Its mission is to enhance the Kingdom's cybersecurity posture, safeguarding vital interests, national security, critical infrastructure, and government services. The NCA is also committed to driving sector growth, fostering innovation, and encouraging investment in cyberspace.