Riyadh - Mubasher: Spending on Cyber Security in Saudi Arabia is expected to reach around SAR 7 billion ($1.87 billion) by 2020.
According to Fahad Aljutaily, the vice president of the cyber security business unit in the Saudi Telecom Company (STC), 20% of the spending on the sector in the kingdom will be dedicated to the internet of things (IoT).
The number of devices connected to the internet will increase to 150 million, with more than 50 million mobile phones. On the global level, this number will reach a staggering 50 billion devices by 2030, Aljutaily noted.
There are many opportunities in the IoT market, which will have investment of nearly SAR 30 billion by the year 2030 in Saudi Arabia, he added.
