In addition to its thriving oil and gas industry, Saudi Arabia is embracing a new economy and identity based on productivity, support of small and medium enterprises and the growing private sector. Driven by goals for socioeconomic improvement, stimulation and advancement across various government sectors, the Kingdom is working on its self-identified goals according to the initiatives National Transformation Program 2020 and Vision 2030. As part of its plans for reform and improvement as a nation, Saudi Arabia is developing its telecommunications, cybersecurity and digital transformation sectors to prepare for the future.
During this changing climate, foreign companies involved in cybersecurity, digital infrastructure and telecommunications in Saudi Arabia might want to expand their own involvement and contribution efforts in Saudi Arabia's cybersecurity sector. If you're a U.S. cybersecurity company hoping to grow your business' reach in Saudi Arabia, you need an advanced understanding of the Kingdom's dynamic business environment, the industry's projected path and your place in the nation's Vision 2030 goals to further your business objectives.
Cybersecurity Improvement Opportunities in Saudi Arabia
With a diverse media market, a modern telecommunications network, and a growing digital infrastructure, Saudi Arabia is simultaneously focused on becoming a leading digital economy and improving its cybersecurity and safety networks to protect against digital threats.
Saudi Arabia boasts one of the largest information and communications technology markets in the Middle East, supporting a population of 32 million — thus, the nation sees cyber threats as no small concern. With a record of 921,512 malware files and threats at the beginning of 2018, the nation improved its digital protection sphere throughout the year, decreasing its ransomware threats to only 0.55 percent of the global 1.7 billion annual attacks.
As its digital infrastructure and technologies improve as a part of the Vision 2030 development plans, Saudi Arabia is continually transforming its cybersecurity measures and capabilities. In the next three years, the nation expects to spend $14 billion on security costs, services and systems, including cybersecurity. Companies advancing their involvement in cybersecurity improvements in Saudi Arabia should focus on providing services like cybersecurity software, cybersecurity threat detection technology and other related equipment.
Why Choose The Quincy Group for Assistance in Cybersecurity in Saudi Arabia?
When your U.S. company needs assistance advancing and further developing involvement in the Saudi Arabian cybersecurity sector, there's no better source for insight and assistance into your industry than The Quincy Group.
With 50 years of experience advising companies in Saudi Arabia from our on-site office in Riyadh, we know the ins and outs of business spheres in this complex nation — and we'll provide you with the assets, expertise, access and strategies you need to further your endeavors. Contact us online today about assistance with business opportunities and advancements in cybersecurity improvement in Saudi Arabia, or call us at 202.461.2245.