Press release
Middle East & Africa Cybersecurity Market Forecast to surge at a value CAGR of 7.92% from 2022-2028
Middle East & Africa Cybersecurity Market With strategic analysis, micro and macro market trend and scenarios, pricing analysis, and a holistic assessment of market conditions in the future term, this market research study keeps a close eye on major rivals. It's a thorough research that focuses on key and secondary drivers, market share, leading segments, and geographic analysis. The Middle East & Africa Cybersecurity Market also examines significant players, major collaborations, mergers and acquisitions, as well as current innovation and corporate strategies.The cybersecurity market in the Middle East & Africa was valued at USD 1903.59 million in 2020, and it is expected to reach USD 2893.40 million by 2027 and register a CAGR of 7.92% during the forecast period of 2022-2027.
Top Key Players are covered in this report: Cisco Systems Inc., Dell Technologies, Kaspersky Lab, IBM Corporation, Check Point Software Technologies Ltd, Palo Alto Networks Inc., Broadcom Inc. (Symantec Corporation), Trend Micro Inc., FireEye Inc., Paramount Computer Systems LLC, DTS Solutions Inc
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Recent Developments:
Oct 2020 - Palo Alto Networks announced Prisma Cloud 2.0 which includes four new cloud security modules, enhancing its standing as the industry's only comprehensive Cloud Native Security Platform (CNSP). A CNSP is designed to secure multi- and hybrid-cloud environments and cloud native applications integrating security across the full DevOps lifecycle.
Key Market Trends:
Banks in the region are responding to the consumers' preferences of the digital era by increasing their investments in digital innovations, as well as focusing on enhancing the security of mobile banking and the user-experience.
- For instance, Emirates NBD (ENBD), one of the leading banks in the region invested AED 1 billion for digital transformation. Further, the banks, such as Mashreq and Commercial Bank of Dubai , have been the early adopters of digital transformation.
- The demand for cybersecurity is expected to increase in the African region, owing to the growth in non-cash volume, fueled by the growing population aged 15-24. This factor is expected to drive the new mobile money and digital payment schemes, with Kenya emerging as the regional leader in the implementation and uptake of mobile payment solutions, such as M-Pesa. Augmenting this trend, ABK Egypt, with 39 branches and 85 ATMs across the country, has employed Cisco's cybersecurity solution to stay at par with the country's digital transformation.
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Key market aspects are illuminated in the report:
Executive Summary: It covers a summary of the most vital studies, the Global Middle East & Africa Cybersecurity Market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Middle East & Africa Cybersecurity Market, the years measured, and the study points.
Company Profile: Each company in this market sector is screened based on its goods, value, SWOT analysis, capacity, and other key characteristics.
Manufacture by region: This Global Middle East & Africa Cybersecurity Market report offers data on imports and exports, sales, production and key companies in all studied regional markets
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc.MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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