April 20, 2024

The Cybersecurity Landscape in Saudi Arabia

Cybersecurity Landscape

Cybersecurity Landscape

Last Updated on November 9, 2023 by newseditor

Cybersecurity is currently one of the most lucrative sectors in the world. Apart from this, cybersecurity has become the primary focus of many countries. This is because citizens’ data protection has become more significant. Moreso, countries are increasingly dealing with sensitive data that must be protected from hack attacks or manipulation. Thus, the need for adequate data protection has contributed to the significance of cybersecurity, especially in Saudi Arabia.

Over the years, the Saudi Arabian government has demonstrated its commitment to creating a secure environment for data to thrive. An example of the government’s cybersecurity efforts is the National Cybersecurity Strategy. The government developed the strategy to achieve a safe, secure, and reliable cyberspace within Saudi Arabia. Such a secure environment is expected to protect citizens’ data and support the digital operations of companies.

More importantly, the Cybersecurity Strategy aims to integrate cybersecurity governance across Saudi Arabia, strengthen the Kingdom’s ability to tackle cyber threats, improve cybersecurity partnerships, and ensure effective management of cyber risks.

Apart from the strategy, Saudi Arabia has a comprehensive cybersecurity law to protect its cyberspace. The Anti-Cyber Crime Law ensures information security by preventing cybercrimes and punishing perpetrators. Lastly, one of the most prominent cybersecurity programs launched by the Saudi Arabian government is the National Cybersecurity Guidance Center. The centre was established to issue alerts on existing or possible cyber threats and raise awareness of cyber risks.

Saudi Arabia’s Cybersecurity Landscape

Saudi Arabia’s cybersecurity landscape is mainly governed by the National Cybersecurity Authority (NCA). The NCA oversees the regulatory and operational areas in the Saudi Arabian cybersecurity sector. It also seeks to safeguard national security, develop vital cybersecurity infrastructure, and work closely with companies to improve the Kingdom’s cybersecurity position. The efforts of the NCA seem to be yielding results, as Saudi Arabia recently ranked second globally in the Cybersecurity Index prepared by the World Competitiveness Yearbook (WCY).

Apart from this, the Saudi Arabian cybersecurity market is expected to grow at a CAGR of 12.4%. The increased adoption of remote working by small businesses and large companies will likely contribute to this growth. Additionally, the revenue from Saudi Arabia’s cybersecurity market is projected to reach about $392 million by the end of this year. More public institutions are seeking to digitize their operations. This means that the demand for cybersecurity services will equally increase.

These impressive outcomes will likely enhance Saudi Arabia’s quest to effectively diversify its economy. According to reports, Saudi Arabia experiences an average of 160,000 cyberattacks daily. The efforts of the Saudi Arabian government are directed at reducing the prevalence of these attacks.

Bottomline

Saudi Arabia has heavily invested in enhancing the security of its cyberspace and providing a conducive environment for companies to operate. Looking toward 2030, the Kingdom’s cybersecurity metrics will likely improve significantly.

 

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