According to Goldstein Research, GCC cyber security market is expected to reach USD 11.4 billion by 2024 from USD 7.2 billion in 2016, growing at CAGR of 5.9% during the forecast period 2016-2024. The expanding era of digitization and increasing adoption of connected technologies across various industries, government sectors and enterprises is threatening the security systems. Thus security concerns globally is driving the growth of cyber security market in GCC region. GCC cyber security market segmentation has been carried out on the basis of solution type, services, deployment type, end users, and geography. The expanding BFSI sector in GCC region is accounting the largest market share in the adoption of cybersecurity system. Moreover, the expanding oil and gas industry is also witnessed to turn towards the application of cybersecurity system.

GCC cyber security market is majorly driven by UAE with a market share of 35.0% in 2016 and closely followed by Saudi Arabia with a share of 30% of the total GCC cybersecurity industry. The other countries in the region such as Qatar, Kuwait and Oman have relatively very low growth prospects for cybersecurity due to less adoption of ICT.

Market Segmentation

On the basis of our in-depth analysis, GCC Cyber Security Market can be segmented as follows:

Based on Solution Type

o Risk and Compliance Management
o Unified Threat Management (UTM)
o Security Incident Management
o Identity and Access Management (IAM)
o Encryption
o Intrusion Prevention Systems
o Other (Disaster Recovery etc.)

Based on Services

o Managed Services
o Professional Services

Based On Deployment Type

o Cloud
o On-Premises

Based on End Users

o Government Sector
o BFSI (Banking, Financial Services and Insurance)
o Manufacturing
o ICT (Information and Communication Technology)
o Aerospace and Defense
o Retail
o Healthcare
• Other (Education etc.)

By Region

o North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

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“GCC Cyber Security Market Outlook 2024” contains a detailed overview of the GCC cyber security market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by solution type, services, deployment type and end users.

Further, for the in-depth analysis, GCC Cyber Security Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as IBM Security, Raytheon Company, Mimecast, Cisco, CyberArk Software, Lockheed Martin, BAE Systems, Rapid7, Palo Alto Networks, Symantec, Root9B, Herjavec Group, FireEye, Sophos, Sera-Brynn, Kaspersky Lab, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments.

Overall, the report represents the GCC cyber security market trends along with a market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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