Saudi Arabia Managed Security Services Market Segmented By Service Type (Managed Intrusion Detection System (IDS)/Managed Intrusion Prevention System (IPS), Security Information & Event Management, Managed Firewall, Unified Threat Management, Others), By Deployment Type (On-Premise, Cloud), By Organization Size (SMEs, Large Enterprise), By End User (Government, BFSI, IT & Telecom, Manufacturing & Natural Resources, and Others), By Region, Competition, Forecast and Opportunities 2018-2028

The market for managed security services in Saudi Arabia is expected to grow in the coming years. Managed security services (MSS) are a concept that refers to the online protection administrations for devices and whole organizations that are used in industrial and infrastructure sectors such as oil and gas, power and water utilities, transportation, and manufacturing. These systems are critical to the functioning of various industries and are increasingly being connected to the internet, making them vulnerable to cyber-attacks. MSSPs can assist financial institutions in maximizing efficiency and security operations. Managed security can boost business productivity, performance, and innovation by providing a secure environment.

In addition, Saudi Arabia is one of the largest producers of oil and gas in the world and has a significant presence in other industries such as power and water utilities, transportation, and manufacturing. As these industries continue to modernize and digitize their operations, the need for managed security services solutions has become increasingly important. The Middle East and Africa region, which includes Saudi Arabia, is expected to be one of the fastest-growing markets for managed security services during this period. Moreover, several factors are driving the demand for managed security service solutions in Saudi Arabia, including the increasing adoption of internet-connected devices and systems, rising awareness about the risks of cyber-attacks, and the growing need to comply with regulatory requirements. The Saudi Arabian government has also recognized the importance of infrastructure security and has taken several measures to enhance the cybersecurity posture of critical infrastructure sectors. Overall, the market for managed security services in Saudi Arabia is expected to grow in the coming years, driven by increasing demand from various industries and government initiatives to improve cybersecurity.

The Increased Use of Digital Technologies in Industrial Systems Is Driving the Market Growth

The increased use of digital technologies in industrial systems is another major driver of managed security services in Saudi Arabia. Digital technologies such as cloud computing, big data analytics, and Internet of Things (IoT) are transforming the way industries operate and manage their assets, leading to improved efficiency, productivity, and cost savings. However, with the increased adoption of digital technologies in industrial systems, the risk of cyber-attacks has also increased significantly. Industrial Control Systems (ICS) and Supervisory Control and Data Acquisition (SCADA) systems that are used in critical infrastructure sectors such as oil and gas, power and water utilities, transportation, and manufacturing are often vulnerable to cyber-attacks, which can result in operational downtime, physical damage, and even loss of life.

For instance, according to the Trend Micro Annual Cybersecurity Report for 2022, a total of 110 million threats were detected and blocked in the Saudi Arabia by the company cybersecurity solutions. As more and more businesses embrace digital transformation, various security solutions will further be going to be implemented in the enterprise operating systems. As a result, there is a growing need for managed security services solutions in Saudi Arabia to protect these critical industrial systems from cyber threats. Managed security services solutions such as firewalls, intrusion detection systems, and many more are becoming more widely adopted by organizations to protect their operating systems like ICS and SCADA from cyber-attacks.

The Saudi Arabian government has also recognized the importance of managed security services and has taken several measures to enhance the cybersecurity posture of critical infrastructure sectors. For instance, the National Cybersecurity Authority (NCA) has launched various initiatives to raise awareness about the importance of cybersecurity in critical infrastructure sectors and has provided guidelines and frameworks for organizations to improve their managed security services measures. Furthermore, the COVID-19 pandemic has accelerated the pace of digitalization across businesses, as remote work and online transactions have become the new normal. This has further boosted the demand for managed security services, as companies need to ensure the security and efficiency of their digital infrastructure. Overall, the increased use of digital technologies in industrial systems is a key driver of the market growth of managed security services in Saudi Arabia. as organizations seek to protect their critical infrastructure from cyber threats and comply with regulatory requirements.

Rising digitalization among enterprises is indeed driving the market growth of managed security services in Saudi Arabia. As more and more businesses embrace digital transformation, the demand for managed security services such as software development, cybersecurity, cloud computing, and data analytics has increased significantly. Overall, the market for managed security services in Saudi Arabia is expected to continue its growth trajectory, driven by the increasing adoption of digital technologies and the growing demand for innovative solutions. Overall, the rising digitalization among enterprises is driving the growth of the Managed Security Services market, and this trend is expected to continue in the coming years.

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The increase in adoption of Industrial Internet of Things (IIoT) solutions is another major driver of the market growth of managed security services in Saudi Arabia. IIoT solutions are generally used to connect, monitor devices and machines in industrial environments, leading to improved efficiency, productivity, and cost savings. However, with the increased connectivity of IIoT solutions in industrial systems are proliferating the new security risk as these industrial machines are vulnerable to cyberattacks. IIoT devices and sensors that are used in critical infrastructure sectors such as oil and gas, power and water utilities, transportation, and manufacturing are often vulnerable to cyber-attacks, which can result in operational downtime, physical damage, and even loss of life. As a result, there is a growing need for managed security solutions in Saudi Arabia to protect these critical industrial systems from such threats. Managed security services and OT security solutions such as firewalls, intrusion detection systems, and network segmentation are becoming more widely adopted by organizations to protect their IIoT devices and sensors from cyber-attacks.

Moreover, Industrial Internet of things devices exhibit enormous data which are significant for the enterprise to analyze and predict the upcoming event. As these data are highly important to the organization and government, the Saudi Arabia government has implemented several regulations such as Saudi Arabia Personal Data Protection Law (PDPL) to regulate the collection, use, and disclosure of personal data. The adoption of managed security services is enabling third party customers to comply with the PDPL when processing personal data of customers. This includes obtaining valid consent for data processing, ensuring data security measures are in place, providing data breach notifications, and fulfilling other GDPR obligations. Such initiatives have further increased the adoption of internet of things devices in the industrial setting. Therefore, the increase in Industrial internet of things solution is proliferating the demand for managed security services in the Saudi Arabia Market.

Bring Your Own Device Concept Drive the Market of Managed Security Services

Bring Your Own Device (BYOD) can drive the market of managed security services (MSS). The practice of allowing employees to use their personal devices, such as smartphones, tablets, and laptops, for work purposes is referred to as "bring your own device" (BYOD). To safeguard confidential corporate data and networks, robust security measures are required as the use of bring your own device (BYOD) grows in organizations. The adoption of BYOD introduces additional security challenges, as personal devices may not have the same level of security controls as corporate devices. This can increase the risk of data breaches, malware infections, and other security incidents. Managed security services (MSS) are outsourced security solutions provided by specialized companies to manage and monitor an organization's security infrastructure.

In addition, these services enable enterprises to implement security policies, enforce access controls, conduct security assessments, and provide ongoing monitoring and management of BYOD devices to ensure that they are secure and compliant with the organization's security policies. Furthermore, MSS have the ability to include services such as threat detection and response, security monitoring, vulnerability management, and incident response, among others. These services help organizations to protect their BYOD devices and comply with cybersecurity regulations. To overcome the threat, enterprises may require specialized MSS to implement security controls and monitors specifically tailored for BYOD environments. Therefore, MSS providers have the expertise and tools to implement and manage security measures to protect an organization's IT assets and data from potential cyber threats. Thus, implementation of bring your own device (BYOD) are attributing the demand of managed security services in the Saudi Arabia Market.

Market Segmentation

The Saudi Arabia managed security services market is segmented based on service type, deployment type, end user, and region. Based on service type, the market is categorized into managed intrusion detection system (IDS)/managed intrusion prevention system (IPS), security information & event management, managed firewall, unified threat management, others. Based on deployment type, the market is bifurcated into on-premise, and cloud. Based on organization size, the market is divided into SMEs and large enterprise. The end user segment is further divided into government, BFSI, IT & telecom, manufacturing & natural resources, and others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Northern & Central Region, Eastern Region, Southern Region, and Western Region.

Company Profiles

Some of the major players in the managed security services market include Cisco Saudi Arabia Limited Company, Kaspersky Lab, International Business Machines Corporation (IBM) Saudi Arabia, Fortinet, Inc., Palo Alto Networks, Inc., Security Matterz Ltd. (Saudi Arabia), Atos SE (Saudi Arabia) and many more.

In this report, the Saudi Arabia managed security services market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Saudi Arabia Managed Security Services Market, By Service Type:

o   Managed Intrusion Detection System (IDS)/Managed Intrusion Prevention System (IPS)

o   Security Information & Event Management

o   Managed Firewall

o   Unified Threat Management

o   Others

• Saudi Arabia Managed Security Services Market, By Deployment Type:

o   On-Premises

o   Cloud

• Saudi Arabia Managed Security Services Market, By Organization Size:

o   Small & Medium-sized Enterprises (SMEs)

o   Large Enterprises

• Saudi Arabia Managed Security Services Market, By End User:

o   Government

o   BFSI

o   IT & Telecom

o   Manufacturing & Natural Resources

o   Others

• Saudi Arabia Managed Security Services Market, By Region:

o   Northern & Central Region

o   Eastern Region

o   Southern Region

o   Western Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Saudi Arabia managed security services market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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