Global Market Research Company US Saudi Arabia Managed Security Services Market Fore | Page 8

Industry Brief
Saudi Managed Security Services Market to Cross $317 Million by 2023
According to TechSci Research report, “Saudi Arabia Managed Security Services Market By Deployment
Mode, By Application, By End User Sector, Competition Forecast & Opportunities, 2013 – 2023”, the
country’s Managed Security Services (MSS) market in Saudi Arabia is projected to grow at a robust double
digit CAGR of over 18% during 2018-2023. The key factors expected to drive the MSS market in Saudi Arabia
include digitization initiatives by the government, increasing number of cybercrimes, and surging deployment
of SMACT technologies across oil & gas, education, government, manufacturing and defense sectors.
Increasing demand for Managed Security Services supporting multiple OS, in addition to rapid cloud adoption
and emerging BYOD & mobility trends leading to growing network infrastructure, data security, and security
regulation and compliance complexities are anticipated to positively influence the market during the forecast
period.
Government sector held the largest share in Saudi Arabia MSS market in 2017, and the trend is anticipated to
continue in the coming years as well, backed by increasing number of digitalization initiatives. However, oil &
gas sector is anticipated to emerge as the fastest growing end-user sector in the market during the forecast
period, owing to increasing focus of the government to digitally empower the country’s highest revenue
generating sector. Injazat Data Systems LLC, HP Services Saudi Arabia, Saudi Telecom Company, Etihad
Etisalat Co. and Wipro Arabia Limited are some of the major players operating in the country’s Managed
Security Services market.
“Over the last few years, there has been an increase in the adoption of Managed Security Services across
various end user sectors in Saudi Arabia, attributed to the growing IT and network infrastructure complexities
coupled with easy affordability and higher degree of efficacy associated with MSS. Furthermore, MSS adoption
in the country’s oil & gas sector is growing at brisk pace, and consequently, emergence of smart power
generation & supply systems is going to a trend to watch out for in the coming few years”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Managed Security Services Market By Deployment Mode, By Application, By End User
Sector, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential
of the Managed Security Services market in and has also provided the statistics and information on market
structure, size, share and future growth of Saudi Arabia Managed Security Services market. The report
intends to provide cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities existing in the market.
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TechSci Research