Middle East and Africa Cybersecurity Industry Research Report, Market Overview,
Posted by kenresearch on January 16th, 2019
The market of cybersecurity in the Middle East and Africa has grown more positive in the recent trend as in this region the development in infrastructure is done on a large scale with the more highly educated populace. The term cybersecurity is defined as several techniques of protecting or safeguarding computer systems, programs, and data from unauthorized access, network or attacks that are intended for manipulation. With the effective increment in internet penetration, the cyber attacks are becoming more powerful, supporting hacker’s bigger access to new technology. One exact example is the introduction a malware called ‘Flame’. The key players of this market are playing an important role by analyzing the strategies and policies of the competitors for attaining the vast effective opportunities which become profitable for acquiring the handsome amount of share in the Middle East and Africa region. In addition, with the effective applications of cybersecurity technology, the market of this will lead the effective growth in the near future more positively.
According to the report analysis, ‘Middle East and Africa Cybersecurity Market (2018-2023)’ states that there are several key players which are recently functioning in this market more significantly for attaining the highest market share in the Middle East and Africa region by safeguarding the interest of the client and adopting the effective strategies and policies includes Fortinet,FireEye,Paloalto, Trend Micro, IBM Corporation and several others. Moreover, The Middle East and Africa cybersecurity market is expected to increase at an overall compound annual growth rate (CAGR) of 11.7 % and will be worth of USD 13.78 Billion by 2023.
The deficiency of technical knowledge, especially in the Middle East region has controlled the market from increasing. The region is annoying to implement cybersecurity strategies across the domain, but operative observing has been indefinable. For instance, The Middle East is shifting towards the acceptance of digital technologies, improved internet penetration, usage of IoT and cloud, and these are some prominent factors underwriting to the growth of the cybersecurity market. Hence, in the forecasted period, the growth of this market will grow more significantly.
On the basic geography, in 2016, the Middle East and Africa produced 5.8% of the revenue. Also, this region observed a number of partnership agreements among the key players during the period of 2014 to 2017, hence motivating the cybersecurity market. In addition, on the basis of industries, the Middle East and Africa cybersecurity market is segmented into financial services, telecommunication, healthcare, public sector, and others. Whereas, the healthcare sector is predictable to develop fast Governments are making enormous investments to develop healthcare infrastructure. Not only has this, but the government bodies in this region are also in the procedure of accepting cybersecurity. The UAE government had established E-security centers to permit the exchange of information among UAE countries. Therefore, in the near future, it is expected that the market of cybersecurity in the Middle East and Africa will grow more positively over the recent few years with the effective amount of investment by the new investors in the more attractive developments in the technology of cybersecurity.
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Ankur Gupta, Head Marketing & Communications
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