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%.
Browse 146 market data tables and 59 figures spread through 250 Pages and in-depth TOC
on "Middle East Cyber Security Market"
Early buyers will receive 10% customization on this report.
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
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).
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Adaptive Security Market by Component (Solution, Services), Application (Network
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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
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