Cyber security, also denoted to as IT security, emphasizes on preventing computers, networks, programs, and data from unlicensed or spontaneous admittance. It entails network security, endpoint security, application security, identify management, cloud security, data security and infrastructure security. As the cyber threats have augmented at an alarming rate, security solutions have been obtaining traction, around the globe. Solutions likewise antivirus software and firewalls have augmented in complexity and proven to be proficient at safeguarding attacks and threats, likewise trojans, malware and phishing. The accomplishment of these solutions has led to speedy development of the cyber security industry, as employing technical defenses has become a standard best exercise in every enterprise.
Middle East Cyber Security Market
Outlook
to 2022 - By Solutions (Firewall, Intrusion Detection System, Antivirus,
Identity and Access Management, Encryption, Data Loss Prevention, Unidentified
Threat Management, Disaster Recovery) and By Region
Banking
and finance industry is the greatest end users of cyber security software and
hardware in Middle East. This is mainly owing to the high confidentiality of
data that is being utilized in the segment. Cyber Security is such an essential
issue for the banks to consider owing to any breach could undermine the trust
that consumers have in the bank, and affect the future sustainability and
profitability of the organization. Government segment has begun to advance the
E-governance amenities in the Middle East regions which results in great
requirement for the cyber security services.
IT
and telecom and Oil and Gas are other end users of the cyber security in Middle
East. Most of oil and gas refineries in the region are state owned and are of
national importance therefore it becomes lucrative for foreign state backed
hackers to disrupt their functions.
Cyber Security Market
around Middle East registered a positive five year CAGR throughout 2012-2017.
The market size grew continuously from 2012 to 2017. The growth was majorly
driven by threat ascending from growing number of cyber-attacks on critical
infrastructure which were of national importance. Technological innovations and
growing aim on infrastructure development has also resulted in increment in
requirement for cyber security. The cyber-crimes are one of the biggest
concerns for the entities today. The number presents that the companies have to
face a lot of loss which are in both tangible as well as intangible form.
By
region, the Central Middle East region is the greatest market for cyber
security products which registered for majority of the market share during
2017, swiftly followed by Western and Southern part. Great number of cyber-attacks
over the years and speedy digitalization are the major cause behind the growth
around the region.
The
developers of cyber security products in Middle East sell their proposing to
end users through distributors and system integrators. At Ken Research, the report
focuses on discussing the competitiveness of both foremost developers as well
as system integrators exist in the market. The market is registered by major
global players although entrance of some other players has resulted in
modification of market dynamics. The report also illuminates the parameters to
discriminate one competitor from others and measures through which each company
can be evaluated from the perspective of end users.
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Moreover,
the market for cyber security in the region is predicted to augment by double
digit CAGR. This market will be primarily propelled by sale of firewall and
intrusion detection devices which will obtain most of the market share
respectively. The market will commonly grow owing to requirements of network
security which most of the enterprises fell as the basic inevitability in
today’s ever growing cyber threat landscape. Central and Western region will
propel majority of requirement in the near future majorly due to
diversification of economy in countries as well as digitalization of prevailing
infrastructure. Cloud security is one technology which will have a wide
impression on the market.
For More Information, refer to below link:-
Global Cyber
Security Market Research Report
Related Reports
Contact Us:-
Ken Research
Ankur Gupta, Head
Marketing & Communications
+91-9015378249
