Dec 2,2021 | Information Technology
The Saudi Arabian Cyber Security Market is driven by the growing number of cyber-attacks and threats. This has led to an increase in the demand for different security solutions across various end-user industries. This in turn is expected to positively influence the market growth through 2026. Additionally, growing adoption of cloud computing, IoT and BYOD across enterprises are further expected to propel the market growth over the next few years.
The Saudi Arabian Cyber Security Market is expected to grow at an impressive rate during the forecast period. However, use of pirated and open source cyber security solutions can hamper the market growth during the forecast period. Besides, lack of skilled personnel to manage the cyber security within an organization can further restrict the market growth.
The Saudi Arabian Cyber Security Market is segmented based on security type, solution type, deployment mode, end-user industry, company, and region. Based on security type, the market can be categorized into network security, endpoint security, application security, cloud security, content security and others.
The cloud security segment is expected to dominate the market during the forecast period on account of the widespread adoption of cloud technology across the various end-user industries such as BFSI, healthcare, manufacturing, among others. Additionally, increasing investments by the government and major vendors operating in the market further drives the segmental growth.
Based on the end-user industry, the market can be fragmented into BFSI, IT & telecom, defence, energy & power, retail, healthcare and others. The BFSI segment is expected to dominate the market owing to the growing need for providing sealed security and digital privacy in the financial institutions.
The major players operating in the Saudi Arabian Cyber Security Market are Cisco Systems Inc., Dell Technologies, IBM Corporation, Check Point Software Technologies Ltd., Hewlett Packard Enterprise Development LP, Intel Security (McAfee), Trend Micro, Inc., Palo Alto Networks Inc., Broadcom Inc. (Symantec Corporation), NEC Corporation and others. Major companies are developing advanced technologies and launching new services in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
Furthermore the study of the aforementioned market offered on Bharatbook is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities. The report also helps to examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., as well as identify drivers and challenges in the Saudi Arabian Cyber Security Market.
For more insights on the market, please visit The Saudi Arabian Cyber Security Market.