Press release
Middle East and Africa Cybersecurity Market Impact of Changing Consumer Preferences in 2023 to 2032
The Middle East and Africa cybersecurity market is predicted to expand at a CAGR of 11.9%, and is expected to be valued at USD 23.4 Billion by 2023.
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Robust digitalization in verticals like banking and financial services, the government sector, and oil and gas industries has consequently triggered the risk of cyber-attacks. Individuals, businesses, and the governments of countries across the Middle East and Africa region have fallen prey to numerous cybercrimes, including malware emails and software that hold victims data to ransom. Thus, the primary reason behind the cybersecurity markets exponential growth rate is improved awareness, and the adoption of various cybersecurity services that are needed to safeguard smart grid devices, digitalized businesses, and IoT-based smart cities.
Segmentation based on solutions:
Based on solutions, the identity and access management (IAM) segment is predicted to expand at the highest CAGR (14.5%) during the 2018-2023 period. Across the region, a number of companies are entering into partnerships and engaging in acquisitions to offer IAM solutions to different verticals. The governance, risk and compliance segment held the largest market share in 2017, and is predicted to dominate the market during the forecast period. The governments of countries in the region are passing laws and launching new security strategies to provide integrated protection to the countries cyberspace. The strategies involve implementation of cyber smart nations, innovation, cybersecurity, cyber resilience, and national as well as international collaborations on cybersecurity.
Segmentation based on end use industry:
Based on end use industry, the banking and financial services segment is predicted to expand at the highest CAGR during the forecast period, and will reach a value of USD 8.17 Bn by 2023. This is because the banking sector faces almost three times more cyberattacks than any other industry, and the rise of the Middle East and Africa as a hub for finance and banking has made it a major target for cyber criminals. The segment held the largest market share in 2017 and is predicted to dominate the market during the 2018-2023 period.
Country-wise insights:
Countries such as Saudi Arabia, United Arab Emirates (U.A.E.), and South Africa were the most prominent markets for cybersecurity in 2017. Spending on cybersecurity technology has increased considerably in these countries, owing to a recent spurt in the number of complex cyberattacks. Saudi Arabia is increasingly focusing on strengthening its cybersecurity capabilities, by legislating and enforcing cyberspace security by government agencies, especially for critical national infrastructure. The country is projected to witness high investments to strengthen its cybersecurity framework.
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Companies covered:
Symantec Corporation
Check Point Software Technologies Ltd.
Palo Alto Networks, Inc.
Fortinet, Inc.
FireEye, Inc.
Trend Micro Inc.
Proofpoint, Inc.
KPMG
IBM Corp.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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Core Chapters:
Chapter 1: Introduction: This chapter outlines the scope of the report and provides an executive summary of the different market segments, including the market size, future development potential, and evolution of the market in the short to mid-term and long term.
Chapter 2: Competitive Landscape: Here, we conduct a detailed analysis of the competitive landscape of Middle East and Africa Cybersecurity manufacturers, including price, output, and revenue market share, latest development plans, mergers, and acquisition information.
Chapter 3: Production and Value Analysis: This chapter provides a quantitative analysis of the production/output and value of Middle East and Africa Cybersecurity by region/country, identifying the market size and development potential of each region in the next six years.
Chapter 4: Consumption Analysis: We analyze the consumption of Middle East and Africa Cybersecurity in different regions and countries, introducing the market development, future prospects, market space, and capacity of each country in the world.
Chapter 5: Product Segment Analysis: This chapter provides an analysis of various market segments according to product type, covering the market size and development potential of each market segment.
Chapter 6: Application Segment Analysis: We analyze various market segments according to application, covering the market size and development potential of each market segment.
Chapter 7: Company Profiles: This chapter provides detailed profiles of key players in the market, including product production/output, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Industrial Chain Analysis: Here, we analyze the industrial chain, including the upstream and downstream of the industry.
Chapter 9: Sales Channel Analysis: We analyze the sales channel, distributors, and customers in this chapter.
Chapter 10: Market Dynamics Analysis: This chapter introduces the market dynamics, latest developments, driving factors, restrictive factors, challenges, and risks faced by manufacturers in the industry, along with an analysis of relevant policies.
Chapter 11: Production and Supply Forecast: We provide a production and supply forecast for the global and regional market.
Chapter 12: Consumption and Demand Forecast: This chapter provides a consumption and demand forecast for the global and regional market.
Chapter 13: Type and Application Forecast: We provide a quantitative analysis of the market size and development potential of each market segment in the next six years.
Chapter 14: Conclusion: Finally, we present the main points and conclusions of the report, providing readers with a comprehensive understanding of the market and its potential growth prospects.
Our most recent research report showcases the thriving expansion of the Middle East and Africa Cybersecurity Market and offers in-depth insights into the projected market size, share, and revenue until 2032.
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