Middle East Cybersecurity Market and Impact of COVID, 2020-2025 - Proliferation of Digitalization Has Opened New Gateways for Cyberattacks

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Aug 21, 2020, 15:00 ET

DUBLIN, Aug. 21, 2020 /PRNewswire/ -- The "Middle East Cybersecurity Market by Component (Solutions and Services), Security Type (Network Security, Endpoint Security, Cloud Security, ICS Security, and Others), Deployment Mode, Organization Size, Vertical, and Country - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

Pre COVID-19 Forecast:

The Middle East cybersecurity market market is projected to grow from USD 16.1 billion in 2020 to USD 28.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period in the pre-COVID scenario.

Post COVID-19 Forecast: The Middle East cybersecurity market is projected to grow from USD 15.6 billion in 2020 to USD 29.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 13.8% during the forecast period in the post-COVID scenario.

Rising security breaches and sophisticated cyberattacks across enterprises are driving the overall growth of the Middle East cybersecurity market.

The Middle East cybersecurity market size is projected to grow from USD 15.6 billion in 2020 to USD 29.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 13.80% during the forecast period in the post-COVID scenario. The major factors driving the market include the rising security breaches and sophisticated cyberattacks across enterprises and critical industries in the Middle East and stringent government regulations set by the governments across countries in the Middle East.

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

Cybersecurity is an approach to safeguard endpoints, networks, applications, 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 & managed services, to protect critical enterprise information and infrastructure from cyber-attacks, damages, or unauthorized access. With appropriate cybersecurity solutions in place, an organization can avert security attack and breaches that eventually helps in cutting down business cost and enhance its information security infrastructure.

The public and private organizations across the Middle East countries hold a huge amount of sensitive data that is prone to cyber threats and needs to be secured. Moreover, with the rise in the sophistication level of cyber-attacks, there has been an increase in the demand for comprehensive cybersecurity solutions. The regional and global security vendors in the region are developing advanced intelligence based on cybersecurity solutions to provide proactive and holistic security to critical business applications. Cloud security helps enterprises in securing their cloud networks. Many organizations in the Middle East are getting oriented towards the usage of advanced technologies. Hence, the network security segment is gaining traction in the region.

By vertical, the healthcare vertical to be the fastest-growing vertical during the forecast period

The health care segment is the fastest-growing vertical during the forecast period. The increase in high-profile attacks on 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 incident response, etc. will play an integral role in securing the entities related to patients as well as hospital data in the healthcare vertical. Moreover, security services also help healthcare organizations comply with stringent HIPAA and PCI DSS compliances.

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

Technological advancements like cloud, 5G, and IoT have led to the SMEs and large enterprises in the KSAare drivers to the growth of the market. Also, government regulations, soaring cybersecurity incidents, and cloud technology adoption in the country have contributed to market growth.

Research Coverage

The market study covers theMiddle East cybersecurity market size across segments. It aims at estimating the market size and the growth potential of this market across segments categorized into component, solution, service, security type, deployment mode, organization size, vertical, and country. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Topics Covered

1 Introduction
1.1 Introduction to COVID-19
1.2 COVID-19 Health Assessment
1.3 COVID-19 Economic Assessment
1.4 Objectives of the Study
1.5 Market Definition
1.6 Market Scope
1.7 Years Considered for the Study
1.8 Currency Considered
1.9 Stakeholders

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Middle East Cybersecurity Market
4.2 Middle East Cybersecurity Market, by Security Type, 2020
4.3 Post COVID-19 Middle East Cybersecurity Market, by Deployment Mode, 2020
4.4 Middle East Cybersecurity Market, Market Share of Top Three Industry Verticals and Top Three Regions, 2020
4.5 Middle East Cybersecurity Market, Top Three Industry Verticals
4.6 Market Investment Scenario

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Sophistication of Cyberattacks Across Heavy Industries to Result in Financial and Reputational Losses
5.2.1.2 Stringent Government Regulations to Increase Adoption of Cybersecurity Solutions
5.2.1.3 Proliferation of Digitalization Has Opened New Gateways for Cyberattacks
5.2.2 Restraints
5.2.2.1 Higher Costs of Innovation and Budget Constraints
5.2.3 Opportunities
5.2.3.1 Government Initiatives such as Smart Cities, KSA Vision 2030, and Qatar World Cup 2022
5.2.3.2 Rising Adoption of Cloud Technology and IoT Devices
5.2.3.3 Growing Demand for Integrated and Robust Cybersecurity Solutions and Services Among Enterprises
5.2.4 Challenges
5.2.4.1 Lack of Skilled Cybersecurity Experts
5.3 Regulatory Implications
5.3.1 General Data Protection Regulation
5.3.2 Payment Card Industry Data Security Standard
5.3.3 Health Insurance Portability and Accountability Act
5.3.4 Gramm-Leach-Bliley Act
5.3.5 Sarbanes-Oxley Act
5.3.6 SOC2
5.4 Use Cases
5.4.1 Use Case: Scenario 1
5.4.2 Use Case: Scenario 2
5.4.3 Use Case: Scenario 3
5.5 Value Chain Analysis
5.6 Middle East Cybersecurity Ecosystem

6 Middle East Cybersecurity Market, by Component
6.1 Introduction
6.2 Solutions
6.3 Services

7 Middle East Cyber Security Market Analysis, by Solution
7.1 Introduction
7.2 Identity and Access Management
7.3 Risk and Compliance Management
7.4 Encryption
7.5 Data Loss Prevention
7.6 Unified Threat Management
7.7 Firewall
7.8 Antivirus/Antimalware
7.9 Intrusion Detection System/Intrusion Prevention System
7.10 Security and Vulnerability Management
7.11 Disaster Recovery
7.12 Distributed Denial of Service Mitigation
7.13 Web Filtering
7.14 Other Solutions

8 Middle East Cybersecurity Market, by Service
8.1 Introduction
8.2 Professional Services
8.3 Managed Services

9 Middle East Cybersecurity Market Analysis, by Security Type
9.1 Introduction
9.2 Network Security
9.3 Endpoint Security
9.4 Cloud Security
9.5 Industrial Control System Security
9.6 Other Security Types

10 Middle East Cybersecurity Market Analysis, by Deployment Mode
10.1 Introduction
10.2 Cloud
10.3 On-Premises

11 Middle East Cybersecurity Market Analysis, by Organization Size
11.1 Introduction
11.2 Small and Medium Enterprises
11.3 Large Enterprises

12 Middle East Cybersecurity Market, by Vertical
12.1 Introduction
12.2 Banking, Financial Services, and Insurance
12.3 Government and Defense
12.4 Energy and Utilities
12.5 Healthcare
12.6 IT and ITES
12.7 Other Verticals

13 Emerging Technologies in the Middle East Cybersecurity Market
13.1 Penetration Testing
13.2 Zero Trust Security
13.3 Security Orchestration, Automation, and Response
13.4 Cognitive Security
13.5 Automated Breach and Attack Simulation
13.6 Web Security
13.7 Messaging Security

14 Middle East Cybersecurity Market, by Country
14.1 Introduction
14.2 Kingdom of Saudi Arabia
14.3 United Arab Emirates
14.4 Qatar
14.5 Israel
14.6 Kuwait
14.7 Bahrain
14.8 Oman
14.9 Egypt
14.10 Turkey
14.11 Other Countries

15 Competitive Landscape
15.1 Overview
15.2 Competitive Leadership Mapping
15.2.1 Visionary Leaders
15.2.2 Innovators
15.2.3 Dynamic Differentiators
15.2.4 Emerging Companies

16 Company Profiles
16.1 Introduction
16.2 IBM
16.3 Cisco
16.4 Fireeye
16.5 Huawei
16.6 Fortinet
16.7 Palo Alto Networks
16.8 Check Point Software Technologies
16.9 Trend Micro
16.10 Sophos
16.11 Kaspersky
16.12 Mcafee
16.13 Forcepoint
16.14 DTS Solution
16.15 RAS Infotech
16.16 Codegreen Systems
16.17 AT&T Cybersecurity
16.18 Protiviti
16.19 Logrhythm
16.2 Malwarebytes
16.21 Safe Decision
16.22 Security Matterz
16.23 Infratech
16.24 Cato Networks
16.25 Help AG
16.26 Securemisr
16.27 Right-to-Win

For more information about this report visit https://www.researchandmarkets.com/r/d1fahe

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