Saudi Arabia Managed Security Services Market Segmented By Service Type (Managed Intrusion Detection System (IDS)/Managed Intrusion Prevention System (IPS), Security Information & Event Management, Managed Firewall, Unified Threat Management, Others), By Deployment Type (On-Premise, Cloud), By Organization Size (SMEs, Large Enterprise), By End User (Government, BFSI, IT & Telecom, Manufacturing &
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSaudi Arabia Managed Security Services Market Segmented By Service Type (Managed Intrusion Detection System (IDS)/Managed Intrusion Prevention System (IPS), Security Information & Event Management, Managed Firewall, Unified Threat Management, Others), By Deployment Type (On-Premise, Cloud), By Organization Size (SMEs, Large Enterprise), By End User (Government, BFSI, IT & Telecom, Manufacturing &
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 46.76 Million |
| CAGR (2023-2028) | 2.41% |
| Fastest Growing Segment | Manufacturing |
| Largest Market | Northern & Central Region |
The market for managed security services in Saudi Arabia is expected to grow in the coming years. Managed security services (MSS) are a concept that refers to the online protection administrations for devices and whole organizations that are used in industrial and infrastructure sectors such as oil and gas, power and water utilities, transportation, and manufacturing. These systems are critical to the functioning of various industries and are increasingly being connected to the internet, making them vulnerable to cyber-attacks.
In addition, Saudi Arabia is one of the largest producers of oil and gas in the world and has a significant presence in other industries such as power and water utilities, transportation, and manufacturing. As these industries continue to modernize and digitize their operations, the need for managed security services solutions has become increasingly important. The Middle East and Africa region, which includes Saudi Arabia, is expected to be one of the fastest-growing markets for managed security services during this period. Moreover, several factors are driving the demand for managed security service solutions in Saudi Arabia, including the increasing adoption of internet-connected devices and systems, rising awareness about the risks of cyber-attacks, and the growing need to comply with regulatory requirements. The Saudi Arabian government has also recognized the importance of infrastructure security and has taken several measures to enhance the cybersecurity posture of critical infrastructure sectors. Overall, the market for managed security services in Saudi Arabia is expected to grow in the coming years, driven by increasing demand from various industries and government initiatives to improve cybersecurity.
The Increased Use of Digital Technologies in Industrial Systems Is Driving the Market Growth
The increased use of digital technologies in industrial systems is another major driver of managed security services in Saudi Arabia. Digital technologies such as cloud computing, big data analytics, and Internet of Things (IoT) are transforming the way industries operate and manage their assets, leading to improved efficiency, productivity, and cost savings. However, with the increased adoption of digital technologies in industrial systems, the risk of cyber-attacks has also increased significantly. Industrial Control Systems (ICS) and Supervisory Control and Data Acquisition (SCADA) systems that are used in critical infrastructure sectors such as oil and gas, power and water utilities, transportation, and manufacturing are often vulnerable to cyber-attacks, which can result in operational downtime, physical damage, and even loss of life.
For instance, according to the Trend Micro Annual Cybersecurity Report for 2022, a total of 110 million threats were detected and blocked in the Saudi Arabia by the company cybersecurity solutions. As more and more businesses embrace digital transformation, various security solutions will further be going to be implemented in the enterprise operating systems. As a result, there is a growing need for managed security services solutions in Saudi Arabia to protect these critical industrial systems from cyber threats. Managed security services solutions such as firewalls, intrusion detection systems, and many more are becoming more widely adopted by organizations to protect their operating systems like ICS and SCADA from cyber-attacks.
The Saudi Arabian government has also recognized the importance of managed security services and has taken several measures to enhance the cybersecurity posture of critical infrastructure sectors. For instance, the National Cybersecurity Authority (NCA) has launched various initiatives to raise awareness about the importance of cybersecurity in critical infrastructure sectors and has provided guidelines and frameworks for organizations to improve their managed security services measures. Furthermore, the COVID-19 pandemic has accelerated the pace of digitalization across businesses, as remote work and online transactions have become the new normal. This has further boosted the demand for managed security services, as companies need to ensure the security and efficiency of their digital infrastructure. Overall, the increased use of digital technologies in industrial systems is a key driver of the market growth of managed security services in Saudi Arabia. as organizations seek to protect their critical infrastructure from cyber threats and comply with regulatory requirements.
Rising digitalization among enterprises is indeed driving the market growth of managed security services in Saudi Arabia. As more and more businesses embrace digital transformation, the demand for managed security services such as software development, cybersecurity, cloud computing, and data analytics has increased significantly. Overall, the market for managed security services in Saudi Arabia is expected to continue its growth trajectory, driven by the increasing adoption of digital technologies and the growing demand for innovative solutions. Overall, the rising digitalization among enterprises is driving the growth of the Managed Security Services market, and this trend is expected to continue in the coming years.
The increase in adoption of Industrial Internet of Things (IIoT) solutions is another major driver of the market growth of managed security services in Saudi Arabia. IIoT solutions are generally used to connect, monitor devices and machines in industrial environments, leading to improved efficiency, productivity, and cost savings. However, with the increased connectivity of IIoT solutions in industrial systems are proliferating the new security risk as these industrial machines are vulnerable to cyberattacks. IIoT devices and sensors that are used in critical infrastructure sectors such as oil and gas, power and water utilities, transportation, and manufacturing are often vulnerable to cyber-attacks, which can result in operational downtime, physical damage, and even loss of life. As a result, there is a growing need for managed security solutions in Saudi Arabia to protect these critical industrial systems from such threats. Managed security services and OT security solutions such as firewalls, intrusion detection systems, and network segmentation are becoming more widely adopted by organizations to protect their IIoT devices and sensors from cyber-attacks.
Moreover, Industrial Internet of things devices exhibit enormous data which are significant for the enterprise to analyze and predict the upcoming event. As these data are highly important to the organization and government, the Saudi Arabia government has implemented several regulations such as Saudi Arabia Personal Data Protection Law (PDPL)
Bring Your Own Device Concept Drive the Market of Managed Security Services
Bring Your Own Device (BYOD) can drive the market of managed security services (MSS). The practice of allowing employees to use their personal devices, such as smartphones, tablets, and laptops, for work purposes is referred to as "bring your own device" (BYOD). To safeguard confidential corporate data and networks, robust security measures are required as the use of bring your own device (BYOD) grows in organizations. The adoption of BYOD introduces additional security challenges, as personal devices may not have the same level of security controls as corporate devices. This can increase the risk of data breaches, malware infections, and other security incidents. Managed security services (MSS) are outsourced security solutions provided by specialized companies to manage and monitor an organization's security infrastructure.
In addition, these services enable enterprises to implement security policies, enforce access controls, conduct security assessments, and provide ongoing monitoring and management of BYOD devices to ensure that they are secure and compliant with the organization's security policies. Furthermore, MSS have the ability to include services such as threat detection and response, security monitoring, vulnerability management, and incident response, among others. These services help organizations to protect their BYOD devices and comply with cybersecurity regulations. To overcome the threat, enterprises may require specialized MSS to implement security controls and monitors specifically tailored for BYOD environments. Therefore, MSS providers have the expertise and tools to implement and manage security measures to protect an organization's IT assets and data from potential cyber threats. Thus, implementation of bring your own device (BYOD) are attributing the demand of managed security services in the Saudi Arabia Market.
Market Segmentation
Company Profiles
Some of the major players in the managed security services market include Cisco Saudi Arabia Limited Company, Kaspersky Lab, International Business Machines Corporation (IBM) Saudi Arabia, Fortinet, Inc., Palo Alto Networks, Inc., Security Matterz Ltd. (Saudi Arabia), Atos SE (Saudi Arabia) and many more.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million and CAGR for 2018-2022 and 2024-2028 |
| Report coverage | Revenue forecast, company share, growth factors, and trends |
| Segments covered | Service type Deployment type Organization Size End User Region |
| Country scope | Saudi Arabia |
| Regional scope | Northern & Central Region, Eastern Region, Southern Region, Western Region |
| Key companies profiled | Cisco Saudi Arabia Limited Company, Kaspersky Lab, International Business Machines Corporation (IBM) Saudi Arabia, Fortinet, Inc., Palo Alto Networks, Inc., Security Matterz Ltd. (Saudi Arabia), Atos SE (Saudi Arabia) |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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