RIYADH — The size of Saudi Arabia’s cybersecurity market reached SR15.2 billion ($4.05 billion) in 2024, according to a new report by the National Cybersecurity Authority (NCA).

The figure represents a 14 percent increase compared to 2023, driven by rising demand across both the public and private sectors.

The NCA’s report, titled “Key Economic Indicators in the Cybersecurity Sector 2025,” revealed that public sector spending totaled SR4.8 billion, or 32 percent of the market, while private sector spending stood at SR10.3 billion, accounting for 68 percent.

The contribution of the cybersecurity sector to Saudi Arabia’s GDP in 2024 amounted to SR18.5 billion, marking a 19 percent year-on-year rise. Of this, SR9 billion came from direct contributions by cybersecurity product and service providers, while SR9.5 billion represented indirect contributions.

The sector now makes up 0.40 percent of the Kingdom’s total GDP and 0.71 percent of non-oil activities.

The Kingdom’s cybersecurity workforce grew to over 21,000 professionals in 2024, reflecting a 9 percent increase from the previous year.

Women now account for 32 percent of this workforce, above the global average of 24 percent. Officials said this growth stems from national programs designed to build future cybersecurity skills and strengthen economic and social development.

Spending on cybersecurity products reached SR7.7 billion, or 51 percent of the market, while expenditure on services stood at SR7.5 billion, making up 49 percent.

The most in-demand offerings included network security, endpoint security and management, cybersecurity operations solutions, management consulting, and data security.

The NCA said the report was based on a comprehensive study involving input from public and private stakeholders, academic institutions, and cybersecurity professionals. It classified products and services across five categories, 26 activities, and more than 100 offerings, aligned with global standards and best practices. — SG