Cyber Solutions - Saudi Arabia

  • Saudi Arabia
  • Revenue in the Cyber Solutions market is projected to reach US$242.00m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.57%, resulting in a market volume of US$418.40m by 2029.
  • The average Spend per Employee in the Cyber Solutions market is projected to reach US$14.63 in 2024.
  • In global comparison, most revenue will be generated in the United States (US$36,670.0m in 2024).

Key regions: Canada, Chile, United States, Europe, Brazil

Region comparison

Analyst Opinion

The Cyber Solutions market covers cybersecurity products that support organizations in detecting cyber vulnerabilities in networks, software, database, and cloud-based networks/devices, among others. Until now, no solutions have been able to guard against cyber threats and vulnerabilities completely. As a result, this market is still achieving significant growth, with US$67.6 billion in 2022 and an estimated US$158.8 billion by 2028.

The COVID-19 pandemic drove the rapid shift toward digital transformation. As digital transformation has grown, the security market has grown with it. What's clear is that there is a huge demand for cybersecurity solutions in 2023. After an initial decrease in 2020, this market bounced back strongly and is predicted to reach a peak in response to Russia’s invasion of Ukraine.

With more and more devices connected to the cloud, an increasing number of organizations have been adding cybersecurity to their focus. Therefore, in the revenue contribution of the Cyber Solutions market, the sub-market Cloud Security has demonstrated the highest and most robust development: around 40% in 2023.


Data coverage:

Data encompasses B2C, B2B and B2G enterprises. Figures are based on security spending excluding VAT and the number of cyberattacks.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial statements of the market-leading companies and industry associations, national statistical offices, and specific countries’ security organizations (e.g., German Cyber Security Council, Canadian Centre for Cyber Security). Furthermore, we use relevant key market indicators and data from country-specific associations, such as GDP and internet penetration. This data helps us to estimate the market size for each country individually.


In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. Possible techniques are, for example, exponential trend smoothing and the autoregressive integrated moving average (ARIMA) forecasting algorithm. The main drivers are GDP, internet users, level of digitization, and consumer attitude towards data and IT security.

Additional notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.


  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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