RIYADH: The cybersecurity industry is expected to grow by more than double to hit $300 billion by 2024, according to a study by Global Market Insights. By 2026, the cybersecurity market in the Middle East and Africa is expected to reach $2.89 billion and register a compound annual growth rate of 7.9 percent between 2021 and 2026. Saudi Arabia’s cybersecurity market is predicted to increase to over SR21 billion ($5.5 billion) by 2023, according to a statement. The Middle East is moving rapidly toward adopting transformative digital technologies to enable economic diversification.