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Middle East Cybersecurity Market predicted to grow $29.9 billion by 2025

08-30-2021 03:07 PM CET | IT, New Media & Software

Press release from: MarketsandMarkets™

Middle East Cybersecurity Market

Middle East Cybersecurity Market

According to a new market research report "Middle East Cybersecurity Market by Component (Solutions and Services), Security Type (Network Security, Endpoint Security, Cloud Security, ICS Security, and Others), Deployment Mode, Organization Size, Vertical, and Country - Global Forecast to 2025" published by MarketsandMarkets™, the Middle East cybersecurity pre-COVID 19 market size projected to grow from USD 16.1 billion in 2020 to USD 28.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 12.2%, whereas the post-COVID 19 market size is projected to grow from USD 15.6 billion in 2020 to USD 29.9 billion by 2025, at a CAGR of 13.8% during the forecast period.

The cybersecurity solutions and services help companies to protect their endpoints, network, ICS, and cloud environment from advanced threats such as malware, ransomware, DDoS attacks, and Advanced Persistent Threats (APTs). Moreover, increasing demand from Small and Medium Enterprises (SMEs) operating across diverse industry verticals and countries is expected to drive the market growth during the forecast period.

Browse 335 market data Tables and 47 Figures spread through 328 Pages and in-depth TOC on "Middle East Cybersecurity Market”

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=121119697

The network security segment to play a key role in the Middle East cybersecurity market

The network security segment is estimated to have the largest market size during the forecast period in the Post-COVID scenario. With the growth of COVID-19-related adaption in remote working practices, the network of enterprises in the Middle East has been jeopardized. Organizations are adopting measures to combat the situation and are collaborating with security vendors to manage the situation effectively. Increasing vulnerability on the network in the energy and utilities, BFSI, and IT and ITeS industry verticals are triggering the growth of the Middle East cybersecurity market.

The healthcare vertical is expected to grow at the highest CAGR in the Middle East cybersecurity market in Post-COVID scenario

The healthcare industry vertical is expected to contribute the largest market share and expected to grow at the highest CAGR from 2019 to 2025 in the Middle East cybersecurity market due to the technological proliferation of healthcare applications and increased instances of data thefts in the sector. The government and defense sector is expected to grow at the second-highest CAGR from 2019 to 2025 in the Middle East cybersecurity market, due to increasing instances of cyberattacks on the government sector and the government-regulated oil and gas companies. The demand for cybersecurity solutions is rising, as the adoption of these solutions provides advanced protection from cyber threats without affecting the operational efficiency.

Kingdom of Saudi Arabia is expected to contribute the largest market share, whereas Israel is projected to grow at the highest rate in Post-COVID scenario

Kingdom of Saudi Arabia is expected to have the largest market share and dominate the Middle East cybersecurity market from 2019 to 2025, due to the need to safeguard enterprises in various industrial verticals such as BFSI, energy and utilities, government and defense, healthcare, IT and ITeS and others from advanced threats. Israel offers potential growth opportunities in the Middle East cybersecurity market, as there is a wide presence of SMEs that are turning towards cybersecurity solutions to efficiently safeguard their business endpoints, network, application, and cloud environment.

Browse Full Report @ https://www.marketsandmarkets.com/Market-Reports/middle-east-cyber-security-market-121119697.html

The major vendors in the Middle East Cyber Security market include Check Point Software Technologies Ltd (Israel), Cisco (US), Forcepoint LLC (US), IBM Corporation (US), Sophos Ltd (UK), Fireeye (US), Huawei (China), Fortinet (US), Palo alto Networks (US), Kaspersky Lab (Russia), Mcafee (US), and Trend Micro, Inc. (Japan).

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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