Saudi Arabia Managed Security Services Market Trends, Share, Demand, Revenue and Future Outlook
Saudi Arabia Managed Security Services Market Growth, Size, Trends Analysis - By Service, By Size of Enterprises, By End-User Industry - Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Dec-2024 | Report ID: IACT24195 | Pages: 1 - 111 | Formats*: |
| Category : Information & Communications Technology | |||
Saudi Arabia Managed Security Services Market Introduction and Overview
According to SPER Market Research, the Saudi Arabia Managed Security Services Market is estimated to reach USD 750.25 million by 2033 with a CAGR of 14.55%.
The report includes an in-depth analysis of the Saudi Arabia Managed Security Services Market, including market size and trends, product mix, Applications, and supplier analysis. Managed security services (MSS) are comprehensive, outsourced solutions that help firms improve their cybersecurity posture. Threat detection, incident response, and vulnerability management are just a few of the services that MSS suppliers provide. These services are usually delivered remotely, allowing businesses to benefit from cybersecurity specialists' knowledge without relying on internal personnel. MSS providers utilize advanced technologies, such as Security Information and Event Management (SIEM) systems, to monitor network traffic, evaluate logs, and detect potential security problems. Furthermore, they offer proactive measures to mitigate vulnerabilities, such as firewall management, antivirus updates, and security patches.
- In March 2024, the Saudi Information Technology Company (SITE), a Public Investment Fund (PIF) organization and the country's cybersecurity supplier, entered into a two-way investment of more than SAR 500 million with AhnLab Inc., a South Korean cybersecurity company, to work with SITE and SITE Ventures. In the Kingdom of Saudi Arabia and throughout the larger Middle East and North Africa region, the goal is to implement and localize a variety of cybersecurity technology.
- Emircom stated in March 2024 that it had obtained accreditation to provide Cisco's Extended Detection and Response (XDR) Managed Services and that it had opened its fully furnished Emircom Intelligent Security Operations Center (EiSoC) in Riyadh, Saudi Arabia. This growth demonstrates Emircom's dedication to strengthening cybersecurity defenses and offers a full range of services meant to shield businesses' information systems from ever changing threats.
Market Opportunities and Challenges
Opportunities: The modern threat landscape is always changing, which is driving the growing demand for managed security services. Firstly, the increasing frequency and complexity of cyberattacks have thrown enterprises into an ongoing battle to protect their digital assets. To strengthen their defenses and keep ahead of the constantly evolving threat vectors, businesses are increasingly looking to MSS providers. Additionally, the attack surface has increased due to the regional digital revolution, thus it is essential for businesses to contract with professional services to handle their security demands. The requirement for smooth integration of security measures across many digital platforms is what is driving this trend. Regional regulatory compliance requirements are also becoming more stringent, which forces businesses to implement strong security postures.
Challenges: The key obstacle facing the Managed Security Services (MSS) market in Saudi Arabia is the high cost of deployment and upkeep. Despite the growing need for strong security solutions, adopting and maintaining these services presents major financial challenges for enterprises. The financial hardship not only limits access for smaller enterprises but also hinders the ability of larger organizations to innovate and scale. Innovative pricing schemes, scalable solutions, and strategic alliances are required to overcome the constraint and lessen the financial strain while maintaining market-wide security standards.
Market Competitive Landscape
The Saudi managed security services industry is competitive and fragmented, with key companies like as IBM Corporation, Cisco Systems Inc, Sirar (Saudi Telecom Company), TechArch, Accenture PLC7, Capgemini SE, SecurityHQ, SecureWorks Corp, Arabic Computer Systems (ACS), Eviden (Atos SE).
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Service, By Size of Enterprises, By End-User Industry. |
| Regions covered | Eastern Region, Western Region, Southern Region, Northern Region, Central region. |
| Companies Covered | IBM Corporation, Cisco Systems Inc, Sirar (Saudi Telecom Company), TechArch, Accenture PLC7, Capgemini SE, SecurityHQ, SecureWorks Corp, Arabic Computer Systems (ACS), Eviden (Atos SE). |
COVID-19 Impact on Saudi Arabia Managed Security Services Market
The COVID-19 epidemic has had a profound influence on the Saudi Managed Security Services sector. With the increased reliance on remote work and digital solutions, fraudsters have taken advantage of loopholes and launched targeted attacks. Organizations have realized the value of investing in Managed Security Services to safeguard their digital assets and ensure secure remote operations.
By Service Insights
Managed Detection and Response (MDR) experiences significant growth.
A cybersecurity service called managed detection and response (MDR) offers ongoing threat monitoring, detection, and proactive reaction to security events. It uses human experience and cutting-edge technologies like artificial intelligence to detect and neutralize threats instantly. MDR is a major player in the Saudi Arabian market for managed security services, assisting companies in protecting their digital infrastructure and adhering to legal requirements.
Key Target Audience:
- Government and Public Sector
- Banking, Financial Services, and Insurance (BFSI)
- Energy and Utilities
- Healthcare Organizations
- Telecommunications Providers
- Retail and E-commerce Businesses
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
- Educational Institutions
- Technology Companies
Our in-depth analysis of the Saudi Arabia Managed Security Services Market includes the following segments:
| By Service: | |
| By Size of Enterprises: | |
| By End-User Industry: |
Key Topics Covered in the Report:
- Saudi Arabia Managed Security Services Market Size (FY’2024-FY’2033)
- Overview of Saudi Arabia Managed Security Services Market
- Segmentation of Saudi Arabia Managed Security Services Market by Service (Managed Detection and Response, Security Information and Event Management, Managed Identity and Access Management, Vulnerability Management, Other Services)
- Segmentation of Saudi Arabia Managed Security Services Market by Size of Enterprises (Large Enterprises, Small and Medium-Sized Enterprises)
- Segmentation of Saudi Arabia Managed Security Services Market by End-User Industry (IT and Telecom, BFSI, Retail and E-Commerce, Construction and Real Estate, Government and Defense, Energy, Oil, and Gas, and Other End-User Industries)
- Statistical Snap of Saudi Arabia Managed Security Services Market
- Expansion Analysis of Saudi Arabia Managed Security Services Market
- Problems and Obstacles in Saudi Managed Security Services Motor Insurance Market
- Competitive Landscape in the Saudi Arabia Managed Security Services Market
- Impact of COVID-19 and Demonetization on Saudi Arabia Managed Security Services Market
- Details on Current Investment in Saudi Arabia Managed Security Services Market
- Competitive Analysis of Saudi Managed Security Services Market
- Prominent Players in the Saudi Managed Security Services Market
- SWOT Analysis of Saudi Arabia Managed Security Services Market
- Saudi Arabia Managed Security Services Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPERs internal database2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Saudi Arabia Managed Security Services Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Saudi Arabia Managed Security Services Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Saudi Arabia Managed Security Services Market
7. Saudi Arabia Managed Security Services Market, By Service (USD Million) 2020-2033
7.1. Saudi Arabia Managed Security Services Market Size, Share and Forecast, By Service, 2020-20267.2. Saudi Arabia Managed Security Services Market Size, Share and Forecast, By Service, 2027-20337.3. Managed Detection and Response (MDR)7.4. Security Information and Event Management (SIEM)7.5. Managed Identity and Access Management (IAM)7.6. Vulnerability Management7.7. Other Services
8. Saudi Arabia Managed Security Services Market, By Size of Enterprises (USD Million) 2020-2033
8.1. Saudi Arabia Managed Security Services Market Size, Share and Forecast, By Size of Enterprises, 2020-20268.2. Saudi Arabia Managed Security Services Market Size, Share and Forecast, By Size of Enterprises, 2027-20338.3. Large Enterprises8.4. Small and Medium-sized Enterprises (SMEs)
9. Saudi Arabia Managed Security Services Market, By End-User Industry (USD Million) 2020-2033
9.1. Saudi Arabia Managed Security Services Market Size, Share and Forecast, By End-User Industry, 2020-20269.2. Saudi Arabia Managed Security Services Market Size, Share and Forecast, By End-User Industry, 2027-20339.3. IT and Telecom9.4. BFSI9.5. Retail and E-commerce9.6. Construction and Real Estate9.7. Government and Defense9.8. Energy, Oil, and Gas9.9. Other End-user Industries
10. Saudi Arabia Managed Security Services Market Forecast, 2020-2033 (USD Million)
10.1. Saudi Arabia Managed Security Services Market Size and Market Share
11. Saudi Arabia Managed Security Services Market, By Region, 2020-2033 (USD Million)
11.1. Saudi Arabia Managed Security Services Market Size and Market Share By Region (2020-2026)11.2. Saudi Arabia Managed Security Services Market Size and Market Share By Region (2027-2033)11.3. Eastern Region11.4. Western Region11.5. Southern Region11.6. Northern Region11.7. Central region
12. Company Profile
12.1. IBM Corporation
12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments
12.2. Cisco Systems Inc
12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments
12.3. Sirar (Saudi Telecom Company)
12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments
12.4. TechArch
12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments
12.5. Accenture PLC
12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments
12.6. Capgemini SE
12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments
12.7. SecurityHQ
12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments
12.8. SecureWorks Corp
12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments
12.9. Arabic Computer Systems (ACS)
12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments
12.10. Eviden (Atos SE)
12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
The Middle East is anticipated to have the highest Market share in the Saudi Arabia Managed Security Services Market.
The key players in the Market include Companies Covered IBM Corporation, Cisco Systems Inc, Sirar (Saudi Telecom Company), TechArch, Accenture PLC7, Capgemini SE, SecurityHQ, SecureWorks Corp, Arabic Computer Systems (ACS), Eviden (Atos SE).
Managed security services (MSS) are comprehensive, outsourced solutions that help firms improve their cybersecurity posture. Threat detection, incident response, and vulnerability management are just a few of the services that MSS suppliers provide.
Saudi Arabia Managed Security Services Market is projected to reach USD 750.25 million by 2033, growing at a CAGR of 14.55% during the forecast period.
Saudi Arabia Managed Security Services Market grew in Market size from 2024. The Market is expected to reach USD 750.25 million by 2033, at a CAGR of 14.55% during the forecast period.
Saudi Arabia Managed Security Services Market CAGR of 14.55% during the forecast period.
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Saudi Arabia Managed Security Services Market size is USD 750.25 million from 2024 to 2033.
Saudi Arabia Managed Security Services Market is covered By Service, By Size of Enterprises, By End-User Industry.
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