Middle East Cybersecurity Market Size, Share, Revenue Growth, Top Key Companies, Industry Analysis, Advance Technology, Future Development & Forecast - 2028

Middle East Cybersecurity Market by Offering (Solutions and Services), Solution Type, Security Type, Deployment Mode (On-Premises, Cloud, Hybrid), Organization Size (Large Enterprises, SME), Vertical and Region - Global Forecast to 2028.
The Middle East cybersecurity market [https://www.marketsandmarkets.com/Market-Reports/middle-east-cyber-security-market-121119697.html?utm_campaign=middleeastcybersecuritymarket&utm_source=abnewswire.com&utm_medium=paidpr] is expected to expand from USD 14.8 billion in 2023 to USD 24.1 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 10.2% during this period. This growth is driven by the region's flourishing startup ecosystem, which is steering the market towards innovation and resilience. Additionally, Saudi Arabia's Vision 2030 is a key factor in shaping market dynamics, as regulatory initiatives gain traction to address the increasingly complex threat landscape. The alignment with Vision 2030 creates a favorable environment for advancements in cybersecurity.

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Based on the offering, the services segment will grow at the highest CAGR during the forecasted period.

The exponential growth of the services segment in the Middle East cybersecurity market is driven by the multifaceted challenges posed by evolving cyber threats. The region has witnessed a significant surge in cyber threats and attacks, creating a heightened demand for cybersecurity solutions and services. The expanding landscape of eCommerce and digital payment solutions has intensified the need for robust cybersecurity measures, fueling the growth of services specializing in digital asset protection. The region's stringent regulations and compliance requirements have mandated comprehensive cybersecurity services, ensuring adherence and robust data protection practices. Concurrently, the ongoing digital transformation initiatives amplify the demand for cybersecurity services essential for safeguarding digital assets and infrastructure. Moreover, the rising demand for cyber-insurance contributes significantly to the burgeoning services sector, establishing it as the fastest-growing segment in the Middle East cybersecurity market.

By deployment mode, on-premises accounts for the highest market size during the forecast period.

The on-premises segment has the largest market size in the Middle East cybersecurity market for various reasons, such as the paramount importance placed on data privacy concerns. Organizations, particularly government agencies and critical infrastructure operators, prioritize data sovereignty and control over sensitive information. On-premises solutions offer greater control over data storage and processing, alleviating concerns about cloud-based solutions potentially exposing data to foreign jurisdictions. Additionally, regulatory compliance in the region may restrict or discourage storing certain types of data in the cloud, further emphasizing the role of on-premises solutions in ensuring adherence to regulations.

Security considerations also play a pivotal role, with on-premises solutions providing customization, control over security policies, and offline functionality to ensure uninterrupted operations during internet outages. Cost factors, including the preference for predictable costs over recurring subscription fees and the limited cloud infrastructure in some Middle Eastern regions, contribute to the dominance of the on-premises segment. Moreover, existing infrastructure and investments, such as legacy systems and internal expertise in managing on-premises security solutions, further consolidate the on-premises market's stronghold in the region.

By region, Israel is to grow at the highest CAGR during the forecast period.

Israel is witnessing an unprecedented growth rate in the Middle East cybersecurity market, driven by a combination of factors uniquely positioning the nation for rapid expansion. With a robust technological foundation, Israel's vibrant startup ecosystem is pivotal in fostering groundbreaking cybersecurity technologies. The strong military and intelligence sectors contribute significantly, investing heavily in cybersecurity development and cultivating a pool of highly skilled professionals. Israel's emphasis on STEM education further ensures a well-educated workforce, creating a robust talent pipeline for the cybersecurity industry.

In the face of constant cyber threats, Israel has developed extensive expertise in defending against sophisticated attacks, resulting in practical solutions for the market. Cybersecurity is not merely a business concern but a cornerstone of national security, garnering significant government support and investment. Furthermore, the market-specific advantages of niche expertise, adaptability, and cultural proximity to some Middle Eastern countries position Israeli companies as leading players in the region. Foreign investment and regional collaborations further propel Israel's cybersecurity sector, solidifying its status as the fastest-growing player in the Middle East.

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Unique Features in the Middle East Cybersecurity Market

A unique feature of the Middle East cybersecurity market is the strong influence of Saudi Arabia's Vision 2030. This strategic initiative is driving significant investments and regulatory changes, creating a favorable environment for the growth of cybersecurity solutions. The alignment with Vision 2030 not only shapes market dynamics but also encourages innovation and the adoption of advanced cybersecurity practices across the region.

The Middle East cybersecurity market is characterized by a rapidly growing startup ecosystem. This vibrant environment fosters innovation and agility, enabling the development of cutting-edge cybersecurity technologies and solutions tailored to the region's unique needs. The support for startups and small to medium enterprises (SMEs) is a distinctive aspect, helping to fuel the market's growth and resilience.

Countries across the Middle East are increasingly focusing on national cybersecurity strategies, making this a standout feature of the regional market. Governments are actively investing in cybersecurity infrastructure, promoting public-private partnerships, and implementing regulations to protect critical infrastructure and sensitive data. This strategic emphasis on cybersecurity at the national level is driving the demand for robust security solutions.

The Middle East is undergoing a rapid digital transformation, which is a significant driver of cybersecurity market growth. As organizations across the region adopt new technologies such as cloud computing, IoT, and AI, the demand for cybersecurity solutions to protect these digital assets is rising. The region's commitment to digital innovation creates unique challenges and opportunities for cybersecurity providers.

With the introduction of new data protection regulations and the increasing importance of compliance, the Middle East cybersecurity market places a heightened focus on data privacy. Organizations are prioritizing the implementation of cybersecurity measures that ensure compliance with local and international standards, making this a key differentiator in the market.

Major Highlights of the Middle East Cybersecurity Market

The Middle East cybersecurity market is on a robust growth trajectory, projected to expand from USD 14.8 billion in 2023 to USD 24.1 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 10.2%. This growth reflects the increasing demand for cybersecurity solutions in response to rising cyber threats and the rapid digitalization of the region.

A major highlight of the market is the profound impact of Saudi Arabia's Vision 2030. This strategic initiative is driving regulatory reforms and investments in cybersecurity infrastructure, positioning the Kingdom as a leader in the region's cybersecurity landscape. The alignment with Vision 2030 is a key factor in accelerating the market's development and innovation.

The Middle East is witnessing a burgeoning startup ecosystem that is significantly influencing the cybersecurity market. The presence of innovative startups is fostering competition and driving the development of advanced cybersecurity technologies. This thriving ecosystem is a critical component of the market's dynamic growth and resilience.

Countries across the Middle East are increasingly adopting comprehensive national cybersecurity strategies, which is a major highlight of the market. These strategies include significant investments in cybersecurity infrastructure, the promotion of public-private partnerships, and the implementation of stringent regulations to safeguard critical infrastructure and sensitive data.

The ongoing digital transformation in the Middle East is a key driver of cybersecurity market growth. As organizations in the region embrace technologies such as cloud computing, the Internet of Things (IoT), and artificial intelligence (AI), there is a growing need for sophisticated cybersecurity solutions to protect against emerging threats.

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Top Companies in the Middle East Cybersecurity Market

The Middle East cybersecurity market is led by some of the globally established players, such as IBM (US), Cisco (US), Palo Alto Networks (US), Check Point (US), Trend Micro (Japan), Fortinet (US), Broadcom (US), Sophos (UK), Trellix (US), EDGE Group (UAE), SecureWorks (US), CPX (UAE), MDS UAE (UAE), Forescout (US), Protiviti (US), Mandiant (US), LogRhythm (US). Partnerships, agreements, collaborations, acquisitions, and product developments are various growth strategies these players use to increase their market presence.

IBM (US), a global technology and IT consulting powerhouse, ranks among the world's largest and second-most valuable companies. Recognized for pioneering technologies, IBM boasts an extensive product portfolio encompassing computer systems, software, networking, storage, and microelectronics. The company's impact spans diverse services, from infrastructure and hosting to consulting in areas ranging from mainframe computers to nanotechnology. In cybersecurity, IBM offers solutions like Identity and Access Management, cloud security, application and network security, data protection, and endpoint security. Complementing these, cybersecurity services encompass data security, consulting, secure engineering, and threat intelligence. IBM extends its influence across IT, healthcare, government, and manufacturing industries throughout the Middle East, including the UAE, Bahrain, Qatar, Saudi Arabia, Yemen, Oman, Kuwait, Lebanon, Iraq, and Jordan. With a firm commitment, IBM empowers regional organizations to navigate the evolving cyber threat landscape and safeguard their critical assets effectively.

Cisco (US), a global networking equipment provider since 1984, is renowned for its cutting-edge technological networking, security, collaboration, and cloud management solutions. With a comprehensive range of products and services, Cisco's offerings span Internet Protocol (IP)-based networking, security, and cybersecurity. The company's zero-trust security ensures holistic protection, securing access across diverse elements like users, devices, APls, loT, microservices, and containers. Cisco's innovations are pivotal in connecting industries globally, contributing significantly to networking and information technology advancement. Serving a diverse customer base, including large enterprises and small to mid-sized businesses, the company provides security solutions like Software-Defined Wireless Area Network (SD-WAN) Security, Cisco Zero Trust, Cisco Secure Data Center, and Cisco Application-First Security. The company's comprehensive portfolio also includes routers, switches, and networking technologies, complemented by strategic alliances with industry leaders. With a notable global presence, Cisco continues to be a driving force in secure and efficient communication solutions worldwide.

Apart from prominent vendors, some other key players, such as Help AG (UAE), Moro Hub (UAE), DTS Solution (UAE), Ras Infotech (UAE), spiderSilk (UAE), CyberSec Consulting (US), CodeGreen Systems (UAE), Malwarebytes (US), Safe Decision (KSA), Security Matterz (KSA), Cato Networks (Israel), CyberGate Defense (UAE), Eviden (France), sirar (KSA), Gulf Business Machines (UAE), SITE (KSA), SAMI-AEC (KSA), Taqnia Cyber (KSA) are also evolving in the middle east cybersecurity market.

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