kingdom has been increasingly investing in cybersecurity for its banking sector. As the Gulf region's biggest cyber attack target, and second most targeted for spam attacks globally, kingdom's banks are taking a proactive approach to security. Meanwhile, the Saudi Arabia's government has been investigating potential technological advancements for finance through its Vision 2030 plans, resulting in its cybersecurity market growing from $1.51bn in 2013 to $3.48bn in 2019, a compound annual growth rate of 14.5%.
Saudi Arabia has been increasingly investing in cybersecurity for its banking sector. As the Gulf region's biggest cyber attack target, and second most targeted for spam attacks globally, Saudi Arabia's banks are taking a proactive approach to security. Meanwhile, the kingdom's government has been investigating potential technological advancements for finance through its Vision 2030 plans, resulting in its cybersecurity market growing from $1.51bn in 2013 to $3.48bn in 2019, a compound annual growth rate of 14.5%.