Report Ocean has recently published the “Middle East and Africa Cybersecurity Market” Research Report 2023-2030, offering a comprehensive analysis of the market. This report delves deep into the market dynamics, including key trends, upcoming technologies, drivers, challenges, and regulatory policies. It also features company profiles and strategies of prominent players in the industry. With over 100+ market data tables, pie charts, graphs, and figures, this global market study provides a thorough understanding of the market landscape. It presents a complete assessment, encompassing future trends, current growth factors, informed opinions, factual insights, and industry-validated market data, enabling accurate forecasts until 2030.
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The Middle East and Africa cybersecurity market is predicted to expand at a CAGR of 11.9%, and is expected to be valued at USD 23.4 Billion by 2023.
Robust digitalization in verticals like banking and financial services, the government sector, and oil and gas industries has consequently triggered the risk of cyber-attacks. Individuals, businesses, and the governments of countries across the Middle East and Africa region have fallen prey to numerous cybercrimes, including malware emails and software that hold victims data to ransom. Thus, the primary reason behind the cybersecurity markets exponential growth rate is improved awareness, and the adoption of various cybersecurity services that are needed to safeguard smart grid devices, digitalized businesses, and IoT-based smart cities.
Segmentation based on solutions:
Based on solutions, the identity and access management (IAM) segment is predicted to expand at the highest CAGR (14.5%) during the 2018-2023 period. Across the region, a number of companies are entering into partnerships and engaging in acquisitions to offer IAM solutions to different verticals. The governance, risk and compliance segment held the largest market share in 2017, and is predicted to dominate the market during the forecast period. The governments of countries in the region are passing laws and launching new security strategies to provide integrated protection to the countries cyberspace. The strategies involve implementation of cyber smart nations, innovation, cybersecurity, cyber resilience, and national as well as international collaborations on cybersecurity.
Segmentation based on end use industry:
Based on end use industry, the banking and financial services segment is predicted to expand at the highest CAGR during the forecast period, and will reach a value of USD 8.17 Bn by 2023. This is because the banking sector faces almost three times more cyberattacks than any other industry, and the rise of the Middle East and Africa as a hub for finance and banking has made it a major target for cyber criminals. The segment held the largest market share in 2017 and is predicted to dominate the market during the 2018-2023 period.
Country-wise insights:
Countries such as Saudi Arabia, United Arab Emirates (U.A.E.), and South Africa were the most prominent markets for cybersecurity in 2017. Spending on cybersecurity technology has increased considerably in these countries, owing to a recent spurt in the number of complex cyberattacks. Saudi Arabia is increasingly focusing on strengthening its cybersecurity capabilities, by legislating and enforcing cyberspace security by government agencies, especially for critical national infrastructure. The country is projected to witness high investments to strengthen its cybersecurity framework.
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Companies covered:
- Symantec Corporation
- Check Point Software Technologies Ltd.
- Palo Alto Networks, Inc.
- Fortinet, Inc.
- FireEye, Inc.
- Trend Micro Inc.
- Proofpoint, Inc.
- KPMG
- IBM Corp.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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The report addresses the following key questions regarding the Middle East and Africa Cybersecurity market:
- What is the expected growth rate of the market in the upcoming years and what factors are driving this growth?
- How do consumers perceive and adopt different types of Middle East and Africa Cybersecurity in the market?
- How are regulatory policies and government initiatives impacting the growth of the Middle East and Africa Cybersecurity market?
- What is the market share of the top 5 players in the Middle East and Africa Cybersecurity market and how is it likely to change in the future?
- What are the latest technologies and innovations in the Middle East and Africa Cybersecurity market and how are they shaping the industry landscape?
- How do macroeconomic factors such as inflation, GDP, and exchange rates affect the Middle East and Africa Cybersecurity market?
- What are the challenges related to the supply chain and logistics that Middle East and Africa Cybersecurity market players face and how are they addressing them?
- How is the changing consumer behavior and preferences influencing the dynamics of the Middle East and Africa Cybersecurity market?
- What are the potential risks and uncertainties associated with investing in the Middle East and Africa Cybersecurity market, and how can they be mitigated?
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Middle East and Africa Cybersecurity market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Middle East and Africa Cybersecurity market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Middle East and Africa Cybersecurity market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Middle East and Africa Cybersecurity business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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