Middle East Cyber Security Market will be driven by Rise in Malware and Ransomware Attacks along with Surge in Penetration of Digital Services: Ken Research

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Saudi Aramco, a state owned oil and gas enterprise was hit by a malware named Shamoon2.0 which left to operational instability and incurred heavy losses to the government. To avoid any such mishap in future corporate across the Middle East are opting for Cyber Security services for their IT operations.

 Middle East Cyber security revenue witnessed a growth in the past five years. The growth was mainly driven by implementation and amendments of cyber security measures to counter the increasing security concerns. Technological innovations and increased focus on infrastructure development have resulted in increase in demand of cyber security. The market witnessed entry of few new players which has altered the competitive landscape with disruptive cyber solutions.

Heavy investments in infrastructure projects are driving the growth in central region (including countries such as Saudi Arabia) which is outpacing other regions in terms of infrastructural growth. Smart city projects across the Middle East are another factors driving demand of cyber security equipments.

The market constitutes of developers and system integrators which provide and operate in a highly competitive market. The market is divided on the type of solutions provided by the equipments such as Firewall, Intrusion Detection System, Antivirus, Identity and Access Management, Encryption, Data Loss Prevention, Unidentified Threat Management, Disaster Recovery. The market dynamics of all the type of solutions seems to be governed mostly by type of threats exposed the end users.

The market is primarily driven by firewall which will acquire majority of the market share. Banking and government sectors are one of the biggest users of cyber security in the region.

According to Ken Research report titled “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”, smart home, commercial infrastructure are two markets which will drive the growth of cyber security market in the near future. The government is looking to diversify from traditional oil and gas business to other sectors in order to immune its economy against backlash suffered due to volatility in oil prices. New technologies such as Internet of Things and artificial intelligence have a wide application in the sector, although Middle East is yet to stride in this area as advanced technologies is limited to few projects in the market which is expected to grow by manifold in the near future.

Key Segments Covered

By Type of Regions

Central Region, Western region, Southern Region, East Region, Northern Region

By Type of Solution

Firewall, Intrusion Detection System (IDS/IPS), Antivirus/Antimalware, Identity and Access Management (IAM), Encryption, 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

Companies Covered

Cyber Security Developers:

Fire Eye, IBM, Splunk, Four Scout, Symantec

Cyber Security System Integrators:

Etisalat, ISYX, BIOS, DU, Starlink

Key Topics Covered in the Report

Middle East Cyber Security Market, Cyber security market UAE, Cyber Security Solutions Middle East, Network Security Market Middle East, End Point Security Market Middle East, Major system integrators Middle East, Network security market Saudi Arabia, Fire Eye Network Security Middle East, Cyber Security Developers Middle East, Data Loss Protection Market Middle East

For more information on the research report, refer to below link:

https://www.kenresearch.com/defense-and-security/security-devices/middle-east-cyber-security-market/160752-16.html

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Ken Research

Ankur Gupta, Head Marketing & Communications

sales@kenresearch.com

+91-9015378249

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