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Middle East Cyber Security Market Worth $22.14 Billion by 2022
Monday, March 20, 2017

PUNE, India, March 20, 2017 /PRNewswire/ --

According to a new market research report "Middle East Cyber Security Market by Solution (IAM, Encryption, DLP, UTM, Antivirus/Antimalware, Firewall, IDS/IPS, Disaster Recovery), Service, Security Type, Deployment Mode, Organization Size, Vertical, and Country - Forecast to 2022", published by MarketsandMarkets, 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%.

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Browse 146 market data tables and 59 figures spread through 250 Pages and in-depth TOC on "Middle East Cyber Security Market"

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The cyber security solutions and services help companies to protect on their endpoints, network, application, and cloud environment from advanced threats such as malware, ransomware, DDoS attacks, and Advanced Persistent Threats (APTs). Moreover, increasing demand from Small and Medium Enterprises (SMEs) operating across diverse industry verticals and countries is expected to drive the market growth during the forecast period.

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The application security segment to play a key role in the Middle East Cyber Security Market 

The application security segment is projected to grow at the highest CAGR during the forecast period. Increasing adoption of mobile- and web-based applications and of enterprise mobility has significantly increased the usage of application security solutions across the enterprises. Increasing vulnerability on application in the energy and utilities, BFSI, and IT and telecom industry verticals are triggering the growth of the Middle East Cyber Security Market.

The government and defense vertical is expected to grow at the highest CAGR in the Middle East Cyber Security Market 

The government and defense industry vertical is expected to contribute the largest market share and expected to grow at the highest CAGR from 2017 to 2022 in the Middle East Cyber Security Market, due to increasing instances of cyberattacks on the government sector and the government-regulated oil and gas companies. The healthcare sector is expected to grow at the second highest CAGR from 2017 to 2022 in the Middle East Cyber Security Market, due to the technological proliferation of healthcare applications and increased instances of data thefts in the sector. The demand for cyber security solutions is increasing, as the adoption of these solutions provides advanced protection from cyber threats without affecting the operational efficiency.

Saudi Arabia is expected to contribute the largest market share, whereas Qatar is projected to grow at the highest rate 

Saudi Arabia is expected to have the largest market share and dominate the Middle East Cyber Security Market from 2017 to 2022, due to the need to safeguard enterprises in various industrial verticals such as energy and utilities, government and defense, IT and telecom, and healthcare from advanced threats. Qatar offers potential growth opportunities in the Middle East Cyber Security Market, as there is a wide presence of SMEs that are turning towards cyber security solutions to efficiently safeguard their business endpoints, network, application, and cloud environment.

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The major vendors in the Middle East Cyber Security Market include 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).

Browse Related Reports 

Adaptive Security Market by Component (Solution, Services), Application (Network Security, Endpoint Security, Application Security, Cloud Security, Others), Deployment Mode, Organization Size, Vertical, Region - Global Forecast to 2021 http://www.marketsandmarkets.com/Market-Reports/adaptive-security-market-147860239.html [http://www.marketsandmarkets.com/Market-Reports/adaptive-security-market-147860239.html?utm_source=PRNewswires&utm_medium=Referral&utm_campaign=PRNewswires ]

Cyber Security Market by Solutions (IAM, Encryption, DLP, UTM, Antivirus/Antimalware, Firewall, IDS/IPS, Disaster Recovery), Services, Security Type, Deployment Mode, Organization Size, Vertical & Region - Global Forecast to 2021 http://www.marketsandmarkets.com/Market-Reports/cyber-security-market-505.html [http://www.marketsandmarkets.com/Market-Reports/cyber-security-market-505.html?utm_source=PRNewswires&utm_medium=Referral&utm_campaign=PRNewswires ]

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About MarketsandMarkets

MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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SOURCE MarketsandMarkets



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