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Saudi Arabia Managed Security Services Market Overview
Saudi Arabia Managed Security Services market witnessed growing exposure to digital communication networks and the IT sector owing to the government initiative such as Digital Saudi plan 2030 along with a rising number of people working remotely increased the need for cyber security in the country. Furthermore, the market was initially impacted in 2020 and witnessed slow growth by the ongoing COVID-19 pandemic, as there was a halt in services and people took time in adopting new technologies.
According to 6wresearch, the Saudi Arabia Managed Security Services Market size is projected to grow at a CAGR of 12.2% from 2022E-2028F. The market would register significant growth owing to the growing adoption of cloud computing, and artificial intelligence coupled with the Saudi Arabia government’s initiative to launch Vision 2030 and CyberIC to develop the domestic cybersecurity sector the demand for managed security services would rise in upcoming years. Further, on account of rapid infrastructure development in the country and the need to monitor the growing data volumes in real-time, the demand for managed security services would increase in the future.
Market by Organization Size
Based on Organization Size type, large enterprises held majority of the revenue share in Saudi Arabia managed security services market on account of rising number of large commercial offices in varied locations and under Vision 2030, Saudi Arabia vision is of becoming a global hub for commerce, investment, and international trade that would maintain their operations digitally and have a large amount of databases to safeguard.
Key Highlights of the Report
- Saudi Arabia Managed Security Services Market Overview
- Saudi Arabia Managed Security Services Market Outlook
- Saudi Arabia Managed Security Services Market Forecast
- Saudi Arabia Managed Security Services Market Trends
- Key Strategic Recommendations
- Saudi Arabia Managed Security Services Market Ranking, By Companies
- Saudi Arabia Managed Security Services Market Drivers and Restraints
- Historical Data and Forecast of Saudi Arabia Managed Security Services Market Revenues, for the Period 2018-2028F
- Historical Data and Forecast of Saudi Arabia Managed Security Services Market Revenues, By Material Type, for the Period 2018-2028F
- Historical Data and Forecast of Saudi Arabia Managed Security Services Market Revenues, By Product Type, for the Period 2018-2028F
- Historical Data and Forecast of Saudi Arabia Managed Security Services Market Revenues, By Distribution Channel, for the Period 2018-2028F
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