Cyber Security Market in Middle East is Growing at a Striking Pace of 22.5% During the Period 2016-2022
Rising adoption of mobile applications in government and private organizations and individual consumers, investment in homeland security, increased investments on ICT projects, emerging digitalization concept are drivers fuelling market growth
Bangalore, India, June 16, 2017 (Newswire.com) - Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Middle East Cyber Security-Market, Trends & Forecast – 2016–2022”
Cyber security is a major concern for most organizations and they are willing to spend on cyber security services/products/solutions to tackle security issues and to protect confidential data from hackers. Government, BFSI and Energy & Utilities verticals are more vulnerable to cyber-attacks. Due to this reason demand for cyber security products are the highest from these verticals. The GCC regions has been repeatedly subjected to cyber-attacks due to their strategic geographic presence and economic significance. The rising adoption of cloud technology from enterprises (small enterprise to larger enterprise) is predicted to drive the cloud security market growth in the upcoming years.
"Predominantly, the factors driving the growth are improving economic conditions, large-scale investments on ICT, mobile security solutions and infrastructure engineering projects such as smart cities, intelligent transportation, travel & tourism, upcoming Dubai EXPO, and FIFA World Cup in Qatar."
Jaydeep Bhattacharjee, Group Head at Infoholic Research.
The Middle East Cyber Security Market is segmented by security types, services, solutions, verticals, and countries.The market is segmented by the following services - consulting service, integration service and managed security service.
The market is segmented by solutions- Identity & Access Management (IAM), IDS/IPS, Risk & Vulnerability Management, DDoS Mitigation, Business Continuity & Disaster Recovery, Data Encryption, Data Loss Prevention (DLP), Unified Threat Management and Antivirus/Antimalware.
The market is segmented and analyzed by the following Middle East countries- UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman, Turkey, Yemen, Israel and Jordan. Saudi Arabia, Turkey, and UAE countries will outperform the other countries in terms of market growth.
The market is segmented by the following end-user verticals- BFSI, Retail & Wholesale Distribution, Hospitality, Media and Entertainment, Transport and Logistics, Manufacturing, Education, Energy & Utilities, Aerospace & Defense, Healthcare, IT and Telecom and Government.
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Some of the key industry players include BAE System, Cisco System, Inc., Check Point Software Technology, and MacAfee.
“Predominantly, the factors driving the growth are improving economic conditions, large-scale investments on ICT, mobile security solutions and infrastructure engineering projects such as smart cities, intelligent transportation, travel & tourism, upcoming Dubai EXPO, and FIFA World Cup in Qatar.” – Jaydeep Bhattacharjee, Group Head at Infoholic Research.
Cyber security is a promising market in the Middle East and is an attractive space for players to expand their business in the various verticals. The cyber security services segment will exhibit enormous opportunities in the next three to four years due to the demand from various end users.
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Report Highlights
· The report covers drivers, restraints and opportunities (DRO) impacting the market during the forecast period (2016–2022)
· The report includes an exhaustive analysis of the key market trends, Porter’s Five Forces analysis and PEST analysis
· It includes detailed vendor profiling encompassing financial health, business units, key business priorities, SWOT analysis, business strategy and views
· The report also covers competitive landscape, which includes mergers and acquisitions, joint ventures and collaborations, and competitor comparison analysis
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Source: https://www.infoholicresearch.com/cloud-wireless-security-expect