Press Release Description

Increasing Digitalization in Industries to Drive the Bahrain Managed Security Market through 2026

The Bahrain Managed Security Market is expecting around 3% CAGR during 2021-26, states MarkNtel Advisors in their recent research report. It owes to the immense dependence of organizations on their IT teams to bring productivity & ensure cyber security, coupled with various benefits of managed security services like reduced IT operational costs & enhanced efficiency of organizations. 

Many companies see Bahrain as an area of business opportunity, owing to which the country is witnessing an increasing number of establishments of several Small & Medium Enterprises (SMEs). It, in turn, is soaring the demand for managed security services & generating remunerative growth opportunities for the leading market players. 

Moreover, the government of Bahrain is substantially investing in different sectors to expand their economic diversification in line with Bahrain Vision 2030 & taking various initiatives for digitally transforming the IT infrastructure, strengthening governance, & enhancing services for customers. As a result, the demand for managed security services is projected to accelerate rapidly through 2026, further states the research report, "Bahrain Managed Security Market Analysis, 2021."

Banks & Financial Institutions across Bahrain to Boost the Managed Security Market through 2026

Among all end-users, the BFSI (Banking, Financial Services, & Insurance) sector is anticipated to dominate the Bahrain Managed Security Market with the largest share during 2021-26. It owes principally to the abundance of data generated in banks, insurance companies, financial institutes, etc., which need to be protected, entwined with increasing instances of data loss, thereby propelling the demand for managed security services. Due to the vast data generation & storage, there are significant growth opportunities for the leading market players across the BFSI sector. 

Besides, the BFSI sector is critical about securing sensitive customer data since it is a prominent target for cyber-attacks & threats. Hence, a majority of the banking & finance companies are rigorously hiring managed security solution providers & exercising the benefits of services. 

Moreover, the increasing number of criminal networks, terrorism acts, modern threats from cyber sabotage, etc., in banks & other finance-related companies are other crucial aspects projected to fuel the market growth across the BFSI sector during 2021-26, cites MarkNtel Advisors in their research report, "Bahrain Managed Security Market Analysis, 2021."

Key Competitors

According to MarkNtel Advisors, the leading players in the Bahrain Managed Security Market are VIVA Bahrain, F5, Fortinet, Wipro, Secureworks, IBM, Cisco, Paladion Networks, & Intel.

Key Questions Answered in the Study

  1. What are the current & future trends in the Bahrain Managed Security Market?
  2. How has the industry been evolving in terms of geography & service adoption?
  3. How has the competition been shaping across Bahrain, followed by their comparative factorial indexing?
  4. What are the key growth drivers & challenges for the Bahrain Managed Security Market?
  5. What are the customer orientation, purchase behavior, and expectations from managed security service providers across Bahrain?

Market Segmentation:

  1. By Type (Security Software (Firewalls, Data Security, E-mail security, End point protection, Identity Access Management, Web Proxi, Cloud Access Security Brokers (CASB), Security Information & Event Management (SIEM), Threat Management, Threat Intelligence/Visibility, Integrated Risk Management Solutions, Security Vulnerability Scanning), Security Hardware (Firewalls, Network Access Control), Security Managed Services (Firewalls, End-Point Protection, Identity Access Management, Security Information & Event Management (SIEM), Threat Management, Threat Intelligence/Visibility, Security Vulnerability Scanning)
  2. By Enterprise Size (Large Enterprises, Small & Medium Enterprises)
  3. By Deployment (On-Premises, Cloud)
  4. By End-Users (Government, BFSI, Healthcare, Manufacturing, Retail, Telecom & IT, Oil & Gas, Others (Hospitality, etc.))
  5. By Service Providers (IT Service Providers, Managed Security Specialist, Telecom Service Provider)
  6. By Competitors (VIVA Bahrain, F5, Fortinet, Wipro, Secureworks, IBM, Cisco, Paladion Networks, Intel)