Tom Lowndes, Regional Director, Middle East, CyberArk, explains that the Saudi Arabian market contributes 40% to its Middle East business, with 25% yearly growth. At Black Hat MEA, they’ll showcase Cora AI, Secrets Management, and machine identity solutions for enhanced security.
How big is the contribution of the Saudi Arabian market to your business in the Middle East region?
Saudi Arabia is a very important market for CyberArk in the Middle East. Since we launched our services in the region over six years ago, we have experienced growth of about 25% year-on-year in Saudi Arabia. Saudi Arabia is accelerating rapidly as part of that growth, making up about 40% of CyberArk’s Middle East business.
We have more than 50 customers in Saudi Arabia including some of the biggest names in finance, government, and manufacturing. Our customer base continues to grow, with an average of five new customers joining every quarter.
What are you planning to showcase at Black HAT MEA this year?
We will be showcasing our major solutions, with a particular emphasis on Cora AI, Secrets Management, and machine identity solutions from Venafi, which CyberArk acquired earlier in the year. Combined, our solutions are vital to help companies cope with a fast-changing threat landscape, with the rise in the number of human and machine identities having transformed the threat landscape in Saudi Arabia and globally in 2024.
How would you describe your roadmap for the Saudi market?
We are making significant investments in Saudi Arabia and want to enable our full platform and establish a local presence in the country within the next 18 months. This will enable end-to-end holistic identity services and allow us to focus on helping customers reduce the number of tools they use and lower their cyber debt. This is important as the average Middle Eastern customer uses ten tools to manage identity security, which causes unnecessary complexity and weakness.
What kind of growth are you targeting in the kingdom, and how does participating at Black Hat MEA help you achieve this target?
We want to double the size of our business in Saudi Arabia in the next 12-24 months. Black Hat offers a great platform to show the people of Saudi Arabia that we are here with our full range of solutions. It is also an excellent opportunity to build relationships with people, meet existing customers, connect with new ones, and build out and strengthen our partnerships and channel relationships.
Where can visitors find CyberArk at Black Hat MEA 2024?
CyberArk is exhibiting with Gulf IT in Hall 1, stand Q10, and Help AG in Hall 1 – J30 & Hall A3-H1-Q10.
