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The local private sector accounts for 69% of spending in the SAR 13.3 bn domestic cybersecurity market, according to a report by the National Cybersecurity Authority (NCA) (pdf). Cybersecurity activities worth SAR 156 bn accounted for 0.4% of overall GDP, and 0.8% of the non-oil GDP in 2023, the report reads. The report doesn’t provide comparable figures for 2022.
MSMEs are dominating: Small enterprises accounted for 273 of the cybersecurity providers in the Kingdom, followed by medium-size businesses at 37, micro firms at 32. Meanwhile, 11 cybersecurity providers in Saudi are classified as large firms.
Where’s demand coming from? There is more demand for cybersecurity offerings in Riyadh, Makkah and the Eastern Region, according to the report. These areas represent 83% of the total domestic demand for cybersecurity services, and products. The capital city is home to 72% of providers, followed by Makkah with 14% and the Eastern Region with 10%.
THE CAVEAT- Saudi businesses still have some ways to go on cybersecurity readiness: Only 1% of domestic firms reached the “mature stage” of overall cybersecurity readiness in 2024, the report indicates. This compares with a declining global average of 3% from 15% last year in terms of the most advanced state for overall readiness
