New York, June 30, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Middle East Cybersecurity Market by Component, Security Type, Deployment Mode, Organization Size, Vertical And Country - Global Forecast to 2025" - https://www.reportlinker.com/p04794249/?utm_source=GNW
1 billion in 2020 to USD 28.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period in the pre-COVID scenario. The global Middle East cybersecurity market size is projected to grow from USD 15.6 billion in 2020 to USD 29.9billion by 2025, at a Compound Annual Growth Rate (CAGR) of 13.80% during the forecast period in the post-COVID scenario. The major factors driving the market include the rising security breaches and sophisticated cyberattacks across enterprises and critical industries in the Middle East and stringent government regulations set by the governments across countries in the Middle East.
By security type, the network security segment is expected to grow at with the largest market sizeduring the forecast period
Cybersecurity is an approach to safeguard endpoints, networks, applications, cloud, and data from advanced threats and vulnerabilities.This involves a set of security technologies, solutions, tools, policies, security concepts, guidelines, risk management approaches, and professional & managed services, to protect critical enterprise information and infrastructure from cyber-attacks, damages, or unauthorized access.
With appropriate cybersecurity solutions in place, an organization can avert security attack and breaches that eventually helps in cutting down business cost and enhance its information security infrastructure.
The public and private organizations across the Middle East countries hold a huge amount of sensitive data that is prone to cyber threats and needs to be secured.Moreover, with the rise in the sophistication level of cyber-attacks, there has been an increase in the demand for comprehensive cybersecurity solutions.
The regional and global security vendors in the region are developing advanced intelligence based on cybersecurity solutions to provide proactive and holistic security to critical business applications.Cloud security helps enterprises in securing their cloud networks. Many organizations in the Middle East are getting oriented towards the usage of advanced technologies. Hence, the network security segment is gaining traction in the region.
• By vertical, the healthcare vertical to be the fastest-growing vertical during the forecast period
The health care segment is the fastest-growing vertical during the forecast period.The increase in high-profile attacks on this sector has led to its adoption of cybersecurity.
In the healthcare vertical, cybersecurity solutions such as medical device penetration testing, network segmentation for medical equipment, device inventory and risk analysis, medical device risk assessments, continuous incident response etc. will play an integral role in securing the entities related to patients as well as hospital data in the healthcare vertical. Moreover, security services also help healthcare organizations comply with stringent HIPAA and PCI DSS compliances.
Kingdom of Saudi Arabia (KSA) to hold the highest market share during the forecast period
Technological advancements like cloud, 5G, and IoT have led to the SMEs and large enterprises in the KSAare drivers to the growth of the market. Also, government regulations, soaring cybersecurity incidents and cloud technology adoption in the countryhave contributed tomarket growth.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key companies.
The breakup profiles of the primary participants are as follows:
• By Company Type: Tier 1–25%, Tier 2–45%, and Tier 3–35%
• By Designation: C-level Executives–40%, Directors – 35%, and Others – 25%
• By Region: North America – 15%,Europe– 15%, APAC– 30%,Latin America– 10%, MEA – 20%
Major vendors offeringMiddle East cybersecurity services includeIBM (US), Cisco (US), FireEye (US), Huawei (China), Fortinet (US), Palo Alto Networks (US), Check Point Software Technologies (Israel), Trend Micro (Japan), Sophos (UK), Kaspersky (Russia), McAfee (US), Forcepoint (US), DTS Solution (UAE), RAS Infotech (UAE), Code Green Systems (UAE), AT&T Cybersecurity (US), Protiviti (US), LogRhythm(US), Malwarebytes (Ireland), Safe Decision (KSA), Security Matterz (KSA), Infratech (KSA), Cato Networks (Israel), Help AG (UAE), SecureMisr (Egypt), Proofpoint (US), Tata Communications (India), Barracuda Networks (US), HP (US), Oracle (US), Paramount Computer Systems (UAE), Vul9 (UAE), Coordinates (UAE), Z Services (UAE), Secutronic (KSA), IT-Serve (UAE), Nanjgel Solutions (UAE), Ingram Micro (UAE), Al KendiComputer Systems (UAE), NdimensionZ (India), Emtech (UAE), Wattlecorp (India), RNTrust Group (UAE), VAS Technologies (UAE), Fujisoft (UAE), Al Arabia Systems Engineering (KSA), Afnam IT (KSA), Fingerprint Consultancy (KSA), ATIT (KSA)and Cyberia Group (KSA). The study includes an in-depth competitive analysis of these key market players,along with their profiles, recent developments, and key market strategies.
Research Coverage
The market study covers theMiddle East cybersecuritymarket size across segments.It aims at estimating the market size and the growth potential of this market across segments categorized intocomponent, solution, service, security type, deployment mode, organization size,vertical,and country.
The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall Middle East cybersecuritymarket and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities
Read the full report: https://www.reportlinker.com/p04794249/?utm_source=GNW
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Middle East Cybersecurity Market by Component, Security Type, Deployment Mode, Organization Size, Vertical And Country - Global Forecast to 2025 - GlobeNewswire
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