Report on key economic indicators in the cybersecurity sector of 2024
Report on key economic indicators in the cybersecurity sector of 2024
Publication date: 25 August 2024
Report On Key Economic Indicators in The Cybersecurity Sector 2024
Saudi Arabia’s cybersecurity sector has witnessed remarkable growth and development since its inception. This progress spans both economic and security domains, influencing national GDP and the labor market, but also with a focus on international impact. Central to this advancement is the Saudi cybersecurity model, now recognized globally as a pioneering framework, attracting widespread interest and imitation.
The model emphasizes nationwide adoption, working to enhance national outcomes and global standing while empowering entities to independently fulfill their roles and improve operational readiness. It is within this context that NCA has issued a report unveiling the key economic indicators behind this sector growth, also exploring domestic and global best practices that supports the Kingdom’s cybersecurity sector and empowers entrepreneurs and investors.
Cybersecurity Market Size In The Kingdom
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The total expenditure by domestic entities focused on cybersecurity products, solutions and services accounted for SAR 13.3 billion. This expenditure is divided between the public and private sectors, with total expenditure by government entities reaching at SAR 4.1 billion, accounting for 31% of the market. Meanwhile, private sector entities spent approximately SAR 9.3 billion over the same period, accounting for 69% of the market size, including SAR 2.8 billion spent by private entities owning, operating or hosting Critical National Infrastructure.
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Contribution of The Cybersecurity Sector to GDP
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The contribution of the cybersecurity sector to the GDP at current prices is estimated to be around SAR 15.6 billion. Of this, SAR 8.6 billion represent direct contribution, while SAR 7 billion represents indirect and induced contributions.
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Classification of Products, Solutions,& Services in The Sector
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The classification of products, solutions and services in the cybersecurity sector was carried out in cooperation with several leading thinks tanks and firms to establish a comprehensive classification of cybersecurity products, solutions, and services. This classification includes more than 100 categories organized into three levels.
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Number of Registered Cybersecurity Products,
Solutions, and Services Providers with NCA
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The number of cybersecurity product, solution and service providers registered with NCA reached 353 providers by end of 2023. |
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Cybersecurity Workforce
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The number of cybersecurity specialists in the Kingdom reached 19,600, with 32% women participation.
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