Cybersecurity sector’s contribution to Saudi GDP reaches $4.16bln in 2023

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RIYADH — The cybersecurity sector’s contribution to Saudi Arabia’s gross domestic product (GDP) reached SR15.6 billion during the year 2023, and these include SR8.6 billion from direct contributions and SR7 billion from indirect contributions.

According to the report, released by the National Cybersecurity Authority (NCA) for the year 2024, the number of providers of cybersecurity products, solutions and services registered with NCA reached 353 by the end of 2023.

This growth reflects the expanding ecosystem of cybersecurity products, solutions, and services in the Kingdom.

Despite global challenges in attracting qualified cybersecurity professionals, with women making up just 25 percent of the global sector workforce, the report showed that Saudi Arabia's cybersecurity sector has 19600 cybersecurity professionals, with women representing over 32 percent. This exceeds the global average by 28 percent, highlighting the Kingdom’s progress in gender diversity within the field.

The report highlighted the remarkable growth of Saudi Arabia's cybersecurity market, which reached SR13.3 billion in 2023. This expansion underscores the Kingdom’s commitment to advancing cybersecurity across both public and private sectors. Notably, private sector expenditure accounted for SR9.3 billion (69 percent) of the total spending, showcasing the vital role of public-private collaboration in driving the cybersecurity industry forward.

The NCA report showcased key economic indicators within Saudi Arabia's cybersecurity sector. It also highlights the sector's size, its contribution to the Kingdom's GDP, the total cybersecurity workforce, and other metrics that underscore the sector’s growth and its pivotal role in advancing cybersecurity in Saudi Arabia.

Cybersecurity products and solutions comprised 56 percent of Saudi Arabia’s SR13.3 billion market, valued at SR7.5 billion. Cybersecurity services accounted for 44 percent, or SR5.8 billion. Key offerings include network security, systems integration, endpoint security, managed security operations centers, and cloud security.

NCA announced that the report was developed in collaboration with top consulting firms and local and international experts over the period of two years. It uses a robust methodology to highlight key economic indicators in Saudi Arabia's cybersecurity sector. The report also classifies over 100 categories of cybersecurity products, solutions, and services, aligned with global best practices.

The NCA, as the national authority for cybersecurity in the Kingdom, is the central reference for all cybersecurity matters. Its mission is to enhance the Kingdom's cybersecurity posture, safeguarding vital interests, national security, critical infrastructure, and government services. The NCA is also committed to driving sector growth, fostering innovation, and encouraging investment in cyberspace.