Middle East Cyber Security Market is Expected to Grow at CAGR of 20% From 2017-2022: Ken Research

Middle East News

  • Cloud computing is the latest technology that is being used in the sector in various domains such as network, wireless and endpoint security.
  • Cyber attacks on government-owned enterprises have forced them to formulate well-thought strategies to counter the cybersecurity threats.
  • Qatar world cup 2022 and Dubai expo 2020 are some of the projects which will drive demand for cybersecurity solutions.

The market for cybersecurity in the Middle East is still in the growing phase and is expected to register double-digit growth as it has gained momentum due to the enhanced focus of the government. Demand for cybersecurity equipment will be largely driven by smart home, commercial infrastructure and banking sectors. In the last few years, these sectors have seen rapid growth in various countries across the Middle East. The political conditions are also playing a major role in the acceptance of cybersecurity due to increasing security concerns. The Government and Banking industries are the major end users of cybersecurity solutions and will continue to have a major share in cybersecurity demand till 2022. New technologies such as the Internet of Things and artificial intelligence will be widely applied in the sector in various domains, although currently, Middle East is yet to stride in these advanced technologies, which is limited to few projects in the market.

Digitalization of public services, development of smart cities and increasing sophistication of cyber attackers are a few trends that are expected to drive the market in the future. Increasing number of internet users is one of the biggest reasons for the high demand for cybersecurity. Companies are spending continuously on improving their digital infrastructure. Middle East region is witnessing infrastructure growth as many countries have opened their economy which will result in huge demand in the future for cybersecurity as many companies are expected to open their office in the Middle East region.

Analysts at Ken Research in their latest publication Middle East Cyber Security Market Outlook to 2022 – By Solutions (Firewall, Intrusion Detection System, Antivirus, Identity and Access Management, Encryption, Data Loss Prevention, Unidentified Threat Management, Disaster Recovery) and By Region believe that revamping the distribution system, adoption of cyber risk assessment measures and growth in house technological capabilities will help in maximizing the delivered value from developers, system integrators and government to the end users. Manufacturers should focus on increasing the perceived value of their products by communicating the long-term benefits of their solutions.

Middle East cyber security market is expected to register positive CAGR of around 20% during the period 2017-2022 with the central region expected to gain the major share of the market.

Key Segments Covered

By Type of Regions

  • Central Region
  • Western region
  • Southern Region
  • East Region
  • Northern Region

By Type of Solution

  • Firewall
  • Intrusion Detection System (IDS/IPS)
  • Antivirus/Antimalware
  • Identity and Access Management (IAM)
  • Encryption
  • Data Loss Prevention (DLP)
  • Unidentified Threat Management (UTM)
  • Disaster Recovery

By Type of Security

  • Network Security
  • Wireless Security
  • End-Point Security
  • Application Security
  • Content Security
  • Cloud Security

Key Target Audience

  • Network Security Companies
  • Cloud Security Companies
  • Antivirus Developers
  • End-Point Security Providers
  • Cyber Security System Integrators
  • Banking Institutions
  • Public Sector Companies
  • Government Entities
  • IT Managed Service Providers

Time Period Captured in the Report

  • 2012-2017 – Historical Period
  • 2017-2022 – Future Forecast

Companies Covered

  • Cyber Security Developers:
    • Fire Eye, IBM, Splunk, Four Scout, Symantec
  • Cyber Security System Integrators
    • Etisalat, ISYX, BIOS, DU, Starlink

Keywords

  • Cybersecurity Market GCC
  • Network security market Saudi Arabia
  • Cybersecurity market UAE
  • Cloud security market Kuwait
  • Major system integrators the Middle East
  • Cybersecurity equipment developers in the Middle East
  • Cyber Security Solutions-Middle East
  • Cyber Security Revenue Middle East
  • Fire Eye Network Security Middle East
  • Etisalat system integrators in the Middle East
  • Major projects by IBM in the Middle East
  • Data Loss Protection Market Middle East
  • Integrated Security Market Middle East
  • Splunk and Major Projects in the Middle East
  • Cyber Security License Procurement Process GCC Countries
  • Anti Virus Market Middle East
  • Internet Firewall Market GCC
  • Intrusion Detection System Market Middle East
  • Antivirus Market GCC
  • GCC Identity and Access Management Market
  • Encryption, Data Loss Prevention Market Middle East
  • Unidentified Threat Management Middle East
  • Disaster Recovery Market Middle East
  • Cyber Security Developers Middle East
  • End Point Security Market Middle East
  • Network Security Market Middle East
  • Application Security Industry GCC
  • Cloud Security Market GCC
  • Antimalware Market GCC

For more information on the research report, refer to below link:

https://www.kenresearch.com/defense-and-security/security-devices/middle-east-cyber-security-market/160752-16.html

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