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Middle East Cybersecurity Market 2022-2027, Dominated by IBM, Cisco, Palo Alto Networks, Check Point, Trend Micro, Fortinet, NortonLifeLock, Sophos, Kaspersky, and​​Trellix

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Dublin, 23 May 2022–(Business Wire) – this “Middle East Cybersecurity Market With COVID-19 Analysis, By Component (Solutions & Services), By Security Type (Network Security, Endpoint Security, Cloud Security, Database Security), Deployment Mode, Organization Size, Vertical – Forecast To 2027” report added to ResearchAndMarkets.com’s supply.

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

Increased sophistication of cyber-attacks in heavy industry resulting in financial and reputational damage, stringent government regulations, and cyber-attacks due to digital proliferation are expected to be the major market drivers.

Necessary steps need to be taken in advance to ensure the overall security posture and technological advancement of cloud and IoT, which enhances the potential use cases in the vertical.

By security type, the cybersecurity segment is expected to grow at the largest market size during the forecast period

Cybersecurity is an approach to protecting endpoints, networks, applications, clouds and data from advanced threats and vulnerabilities.

This involves a set of security technologies, solutions, tools, policies, security concepts, guidelines, risk management methods, and professional and managed services to protect critical corporate information and infrastructure from cyber-attack, compromise or unauthorized access. With proper cybersecurity solutions, organizations can avoid security attacks and breaches, ultimately helping to reduce business costs and enhance their information security infrastructure.

Public and private organizations in Middle Eastern countries hold large amounts of sensitive data that are vulnerable to cyber threats and need to be protected. Furthermore, as the sophistication of cyberattacks increases, so does the need for comprehensive cybersecurity solutions.

Regional and global security vendors in the region are developing advanced intelligence-based cybersecurity solutions to provide proactive and comprehensive security for business-critical applications. Cloud security helps businesses protect their cloud networks. Many organizations in the Middle East are turning to advanced technologies. As such, the field of cybersecurity is gaining traction in the region.

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

Healthcare is the fastest growing vertical during the forecast period. The increase in high-profile attacks on the field has led to its adoption of cybersecurity.

In the healthcare vertical, cybersecurity solutions such as medical device penetration testing, medical device network segmentation, device inventory and risk analysis, medical device risk assessment, and continuous incident response will play an integral role in protecting patient-related entities role and hospital data in the healthcare vertical. In addition, security services help healthcare organizations adhere to strict HIPAA and PCI DSS compliance.

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

Technological advancements such as cloud, 5G, and IoT have resulted in Saudi Arabia’s SMEs and large corporations being the driving force for market growth. In addition, government regulations, soaring cybersecurity incidents, and adoption of cloud technologies in the country are also contributing to the market growth.

Major vendors providing 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).

Advanced Insights

  • Sophistication of cyber attacks and stringent government regulations drive market growth

  • Energy and Utilities Sector and KSA to Hold Largest Market Share in 2022

  • Solutions segment to hold larger market share during forecast period

  • The on-premise segment will hold a larger market share during the forecast period

  • Cybersecurity segment to hold largest market share in 2022

  • Israel will be the best investment market in the next five years

Market dynamics

driver

  • Increased sophistication of heavy industry cyberattacks leads to financial and reputational damage

  • Stringent government regulations to increase adoption of cybersecurity solutions

  • Digitization opens new doors for cyberattacks

constraint

Chance

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

  • The growing popularity of cloud technology and IoT devices

  • Growing business demand for integrated and robust cybersecurity solutions and services

challenge

Market dynamics during the COVID-19 outbreak

Regulatory impact

  • General Data Protection Regulation

  • Payment Card Industry Data Security Standard

  • Health Insurance Portability and Accountability Act

  • Gramm-Leach-Bliley Act

  • Sarbanes-Oxley Act

  • SOC2

  • Example

Value Chain Analysis

Middle East Cybersecurity Ecosystem

technical analysis

  • User and entity behavior analysis and cybersecurity framework

  • Tokenization and Cybersecurity Framework

  • IoT and Cybersecurity Framework

Pricing Analysis

Company Profile

key figure; main force; important member

  • IBM

  • Cisco

  • Palo Alto Networks

  • checking point

  • Trend Micro

  • Fortune Net

  • NortonLifelock

  • Sophos

  • Kaspersky

  • grid

other players

  • DTS Solutions

  • Lars Information Technology

  • spider silk

  • Cyber ​​Security Consulting

  • Ahad

  • code green

  • log rhythm

  • Malware Bytes

  • safety decision

  • Security Question

  • infrastructure technology

  • Cato Network

  • help silver

  • Sisif

  • Cybergate

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

View the source code version at businesswire.com: https://www.businesswire.com/news/home/20220523005674/en/

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