Saudi Arabia Managed Security Services Market Report 2023: Burgeoning Opportunities Under Vision 2030 as Saudi Arabia Emerges as a Global Hub for Commerce, Investment, and International Trade

DUBLIN, March 10, 2023 /PRNewswire/ -- The "Saudi Arabia Managed Security Services Market | Trends, Value, Revenue, Outlook, Forecast, Size, Analysis, Growth, Industry, Share, Segmentation & COVID-19 IMPACT: Market Forecast By Type, By Deployment, By Organization, By Applications And Competitive Landscape" report has been added to  ResearchAndMarkets.com's offering.

Saudi Arabia Managed Security Services Market revenue size is projected to grow at a CAGR of 12.2% from 2022E-2028F. 

Saudi Arabia Managed Security Services market witnessed growing exposure to digital communication networks and IT sector owing to the government initiative such as Digital Saudi plan 2030 along with 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.

The market would register significant growth owing to growing adoption of cloud computing, artificial intelligence coupled with 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 future.

Market by Service Types

Based on service type, Security assets monitoring, and management services acquired the highest revenue share owing to the increased hardware and software dependency of the several institutions including banks, IT, Hospitals and government sector in the country.

Additionally, as cybersecurity systems progress to create a better offence and defense in counter to new approaches of attack, the cost of acquiring and setting out a cybersecurity network keeps on intensifying on the account of its upgradation and modernization in product, technology and features making it financially unviable solution for companies with low capital investments would drive the Security assets monitoring and management services market in the country.

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 Ranking, By Companies
• 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
• Historical Data and Forecast of Saudi Arabia Managed Security Services Market Revenues, By Regions, for the Period 2018-2028F
• Saudi Arabia Managed Security Services Market Drivers and Restraints
• Saudi Arabia Managed Security Services Market Trends
• Porter's Five Force Analysis
• Market Opportunity Assessment
• Market Player's Revenue Ranking
• Market Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Company Profiles

• Cisco Systems, Inc.
• Atos SE
• IBM Corporation
• Kaspersky Lab
• Broadcom Inc.
• Microsoft Corporation
• Fortinet Inc.
• Palo Alto Networks, Inc.
• Advanced Technology and Cybersecurity Company
• Security Matterz

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments

By Services

• Security Assets Monitoring and Management Services
• Threat Intelligence
• Research
• Detection & Remediation Service
• Risk & Compliance Management Service
• Advanced & Emerging Managed Security Service

By Organization Size

• Large Enterprise
• Small Enterprise
• Medium Enterprise

By Deployment

• On-Premise Managed Security Services
• Cloud Managed Security Services

By Regions

• Central
• Eastern

For more information about this report visit https://www.researchandmarkets.com/r/s45gje

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