Future of Middle East Cyber Security Market


Posted September 5, 2018 by vidyakumari

The Middle East cyber security market is segmented by solutions, services, security types, deployment modes, organization size, verticals, and countries

 
The Middle East cyber security market size is expected to grow from USD 11.38 Billion in 2017 to USD 22.14 Billion by 2022, at an estimated Compound Annual Growth Rate (CAGR) of 14.2% during the forecast period. The major growth drivers of the market include the need to mitigate IT security risks, rising instances of enterprise targeted cyber-attacks and threats, and proliferation of smart city and digitization projects in the Middle East region.

The application security segment is expected to grow at the highest CAGR during the forecast period.
Advanced threats on applications and advancements in mobile computing have led to the growing popularity of the enterprise mobility. Also, the Bring Your Own Device (BYOD) trend in the corporate environments is driving the demand over the forecast period. However, the network security segment holds the largest share in the Middle East cyber security market in 2017, due to the increased instances of threats on complex networks that affect the business operations of the various industry verticals.

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The managed services segment is expected to grow at the highest CAGR during the forecast period, while the professional services segment is estimated to hold the largest market size in 2017. In addition, the consulting subsegment in the professional services segment is expected to grow at the highest CAGR during the forecast period, and is estimated to hold a major share of the Middle East cyber security professional services market in 2017.

The Middle East cyber security market faces challenges, such as issues pertaining to the complexity of advanced threats and dynamicity of organizations and IT infrastructure and cloud environment. Moreover, factors such as increased operational costs and the lack of awareness regarding the internal and external threats, limit the growth of the market.

Major vendors that offer cyber security solutions and services across Middle East are Check Point Software Technologies Ltd (Israel), Cisco Systems, Inc. (U.S.), Computer Sciences Corporation (U.S.), Forcepoint LLC (U.S.), Hewlett Packard Enterprise Development LP (U.S.), Intel Security (U.S.), IBM Corporation (U.S.), Sophos Ltd (U.K.), Symantec Corporation (U.S.), and Trend Micro, Inc. (Japan). These companies have implemented different types of organic and inorganic growth strategies, such as innovative product launches, mergers & acquisitions, and partnerships & collaborations to expand their offerings in the Middle East cyber security market.

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Issued By https://www.marketsandmarkets.com
Website Middle East Cyber Security Market
Phone USA: 1-888-600-6441
Business Address Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062
Country United States
Categories Software , Technology , Telecom
Tags middle east cyber security market growth , middle east cyber security market share , middle east cyber security market size , middle east cyber security market trends
Last Updated September 5, 2018