Middle East Cybersecurity Markets 2022-2027 with Domination by IBM, Cisco, Palo Alto Networks, Check Point, Trend Micro, Fortinet, NortonLifeLock, Sophos, Kaspersky and Trellix – ResearchAndMarkets.com

DUBLIN–(COMMERCIAL WIRE)–The “Middle East Cybersecurity Market with COVID-19 Analysis, by Component (Solutions and Services), Security Type (Network Security, Endpoint Security, Cloud Security, Database Security) , implementation mode, organization size, vertical – Forecast to 2027 ” report has been added to ResearchAndMarkets.com offering.

The size of the Middle East cybersecurity market is forecast to grow from $20.3 billion in 2022 to $44.7 billion by 2027, at a compound annual growth rate (CAGR) of 17.1%

Increased sophistication of cyber attacks in heavy industries resulting in financial and reputational losses, stringent government regulations, and cyber attacks due to proliferation of digitization are anticipated to be the main market drivers.

The need to take the necessary steps up front to ensure the overall security posture and technological advances in the cloud and IoT has bolstered potential use cases across verticals.

By type of security, Network Security segment is expected to grow with the largest market size during the forecast period

Cybersecurity is an approach to protecting endpoints, networks, applications, the 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 and managed services, to protect infrastructure and critical business information from cyberattacks, damage, or unauthorized access. . With the right cybersecurity solutions, an organization can prevent security attacks and breaches that eventually help reduce business costs and improve its information security infrastructure.

Public and private organizations in Middle Eastern countries have a large amount of sensitive data that is prone to cyber threats and needs to be protected. Furthermore, with the increase in the level of sophistication of cyber attacks, there has been an increase in the demand for comprehensive cyber security solutions.

The region’s regional and global security providers are developing advanced intelligence based cybersecurity solutions to provide proactive and holistic security for critical business applications. Cloud security helps companies protect their networks in the cloud. Many organizations in the Middle East are moving towards the use of advanced technologies. Therefore, the network security segment is gaining ground in the region.

By vertical, the healthcare vertical will be the fastest growing vertical during the forecast period

The healthcare segment is the fastest growing vertical during the forecast period. The rise of high-profile attacks in 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 response to incidents, etc. they will play an integral role in protecting patient-related entities as well as hospital data in the healthcare vertical. In addition, security services also help healthcare organizations meet strict HIPAA and PCI DSS compliance.

Kingdom of Saudi Arabia (KSA) to hold the largest market share during the forecast period

Technological advancements such as cloud, 5G and IoT have led to KSA SMEs and large enterprises being drivers of market growth. Furthermore, government regulations, increasing cybersecurity incidents, and the adoption of cloud technology in the country have contributed to the growth of the market.

Key vendors offering cybersecurity services in the Middle East include IBM (US), Cisco (US), Palo Alto Networks (US), Check Point (Israel), Trend Micro (Japan), Fortinet (US), NortonLifeLock (US), Sophos (UK), Kaspersky (Russia), and Trellix (US).

Premium prospects

  • Increased sophistication of cyber attacks and stringent government regulations to drive market growth

  • The energy and utilities segment and KSA will have the largest market shares in 2022

  • Solutions segment to maintain higher market share during the forecast period

  • Local segment to maintain a higher market share during the forecast period

  • The network security segment will have the largest market share in 2022

  • Israel will emerge as the best market for investments in the next five years

market dynamics

drivers

  • Increased sophistication of cyber attacks in heavy industries leads to financial and reputational losses

  • Strict government regulations to increase adoption of cybersecurity solutions

  • The proliferation of digitization has opened new doors for cyber attacks

restrictions

  • Higher costs of innovation and budget constraints

Opportunities

  • Government initiatives such as Smart Cities, KSA Vision 2030 and Qatar World Cup 2022

  • Growing adoption of cloud technology and IoT devices

  • Growing demand for integrated and robust cybersecurity solutions and services among enterprises

challenges

  • Lack of qualified cybersecurity experts

Market dynamics during the COVID-19 outbreak

  • Drivers and Opportunities

  • Constraints and challenges

Regulatory implications

  • General Data Protection Regulation

  • Payment Card Industry Data Security Standard

  • Health Insurance Portability and Accountability Act

  • Gramm-Leach-Bliley Act

  • Sarbanes-Oxley

  • soc2

  • Use cases

Analysis of the value chain

Middle East cybersecurity ecosystem

technology analysis

  • Cybersecurity framework and behavior analysis of users and entities

  • Tokenization and cybersecurity framework

  • Internet of Things and Cybersecurity Framework

Price analysis

company profiles

key players. main players

  • IBM

  • cisco

  • Palo Alto Networks

  • check Point

  • microtrend

  • fortnite

  • nortonlifelock

  • Sophos

  • kaspersky

  • Trellix

other players

  • dts solution

  • Ras Infotech

  • spider silk

  • Cybersec Consulting

  • ahad

  • green code

  • logarithm

  • malwarebytes

  • safe decision

  • security issue

  • infrastructure

  • Cat Networks

  • agriculture aid

  • Cysiv

  • cyber gate

For more information on this report, please visit https://www.researchandmarkets.com/r/y8znxm

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