Middle East Cyber Security Market Is Expected To Grow at CAGR of 20% from 2017-2022: Ken Research
• Cyber attacks on government owned enterprises have forced them to formulate well thought strategies to counter the cyber security threats.
• Qatar world cup 2022 and Dubai expo 2020 are some of the projects which will drive demand for cyber security solutions.
The market for cyber security in Middle East is still in the growing phase and is expected to register double digit growth as it has gained momentum due to enhanced focus of the government. Demand for cyber security equipments 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 acceptance of cyber security due to increasing security concerns. The Government and Banking industries are the major end users of cyber security solutions and will continue to have a major share in cyber security demand till 2022. New technologies such as 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 high demand for cyber security. 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 cyber security as many companies are expected to open their office in 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 central region expected to gain major share of the market.
For more information on the research report, refer to below link:
Key Segments Covered
By Type of Regions
• Central Region
• Western region
• Southern Region
• East Region
• Northern Region
By Type of Solution
• Intrusion Detection System (IDS/IPS)
• Identity and Access Management (IAM)
• 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
• Cyber Security Developers:
• Fire Eye, IBM, Splunk, Four Scout, Symantec
• Cyber Security System Integrators
• Etisalat, ISYX, BIOS, DU, Starlink
Ankur Gupta, Head Marketing & Communications
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. We provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies.
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