Kingdom’s cybersecurity market is poised for ‘significant growth’

TDT | Manama

The Daily Tribune - www.newsofbahrain.com

Email: editor@Newsofbahrain.com

Bahrain’s cybersecurity market is projected to experience substantial growth in the coming years, according to a new report by Mordor Intelligence.

The report forecasts the market to reach $402.16 million in 2024 and $529.89 million by 2029, representing a compound annual growth rate (CAGR) of 5.67% during this period.

This growth is attributed to the increasing adoption of digital transformation technologies within Bahraini businesses.

The integration of artificial intelligence (AI), cloud computing, the Internet of Things (IoT), and big data analytics is driving demand for sophisticated cybersecurity solutions.

Dr Jassim Haji, Chairman of the Bahrain Artificial Intelligence Society and a regional AI expert, highlighted the promising future of Bahrain’s cybersecurity sector.

He emphasised the country’s comprehensive approach, citing strong demand from key sectors such as banking, finance, and telecommunications as a major catalyst for growth.

Dr Haji praised the proactive role of the Bahraini government, pointing to the National Cybersecurity Strategy and the establishment of the National Cybersecurity Centre as key initiatives.