The Kingdom’s burgeoning cyber security market size is indicative of the new cybersecurity threat landscape. According to MicroMarket Monitor, the market is expected to grow from US$1.51 billion in 2013 to US$3.48 billion in 2019 at a CAGR of 14.50% for the period 2013 to 2019. The Kingdom of Saudi Arabia’s rapidly growing economy, high rate of internet usage, mobile penetration and highly sophisticated infrastructure makes the Kingdom an attractive destination for hackers. The Kingdom of Saudi Arabia is ranked second globally when it comes to spam attacks and is leading in the Gulf Region in terms of cyber-attacks. The market for Cyber Security exports alone is estimated to grow to over $ 37.5 billion by 2016 with a growing rate 10% on the investments on Information Technology (IT) and Software year on year. Due to the growing public demand, there is a huge increase in the private cyber security exports across the energy sector, financial services sector, information technology (IT) sector, and communications sector. Recent cyber-attacks have created the need to establish a regulatory and legislative frame-works to support the Kingdoms cyber safety. As per the National Information Security Strategy the Kingdom of Saudi Arabia has increased cyber security spending and investment across government agencies and local governments. The Saudi Arabian cyber security market is expected to grow to over $3.48 billion by 2019, at a rate of 14.50%. The continuous attacks on energy sector has led to the high defense spending in the country.
Traditional security methods such as next generation firewalls and other reactive measures are losing the fight against a new breed of attacks. It is very vital to build Saudi talent and human capacity in the field of information security in the Kingdom of Saudi Arabia and also to increase the information security awareness level in the Kingdom of Saudi Arabia. Due to the growing public demand, there is a huge increase in the private cyber security exports across the energy sector, financial services sector, information technology (IT) sector, and communications sector. Recent cyber-attacks have created the need to establish a regulatory and legislative frame-works to support the Kingdoms cyber safety. Leading Saudi IT decision-makers agree that cybersecurity threats are growing in intensity and scale across the Kingdom. The situation is putting businesses at risk of hits to both reputation and bottom line.
Given the above scenario, Nispana is proud to announce the 2nd Annual Middle East Cyber Security Summit scheduled on the 6 & 7 of April 2016 in Riyadh, Kingdom of Saudi Arabia. This summit will feature an array or presentations and interactive panel sessions from international experts to address current challenges faced and come up with strategies to pave the way for a cyber-safe future. This exclusive two day will present all the participants with an excellent opportunity to network with peers, share divergent viewpoints as well as identify internationally renowned cyber security solutions that can be used to totally eradicate cyber-attacks be used to totally eradicate cyber-attacks.
The conference is produced and conceptualized by Nispana Innovative Platforms headquartered in Bengaluru, India with offices in Dubai & USA.
Summit Dates – 6th & 7th of April 2016
Place – Riyadh, Kingdom of Saudi Arabia