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Press Release Description

Bolstering Use of Mobile Payment Solution is Escalating the Growth of the Bahrain Managed Security market

The Bahrain Managed Security market is witnessing high growth on account of rising digitalization transformation among end-user, burgeoning inclination toward disruptive technologies such as cloud computing & IoT across industries and significant growth in e-commerce online platform. Besides these, the introduction of cloud platform by the companies, increasing presence of IT service provider along with bolstering the use of mobile payment solution and soaring investment in the ICT sector are some of the major factor projected to propel the growth of the market in the forthcoming timeline.

According to MarkNtel Advisorsresearch reportBahrain Managed Security Market Analysis, 2021”, the Bahrain Managed Security market is anticipated to grow at a CAGR of 3% during 2021-26F. Based on Type, Security Software is growing at the fastest rate in 2020. The demand for data security is soaring at a sturdy rate due to data security platform for mobile and online banking. The rising adoption of digital banking, increasing use of e-document management systems and paradigm shift of BFSI from traditional to digital payments are propelling the market growth of data security.

“Bahrain Managed Security Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Managed Security providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

Small & Medium Size Enterprise Acquired Significant Market Share

Based on End-User, Small & Medium Size enterprise acquired a significant market share in the Bahrain Managed Security market in 2019. The launch of integrated security solutions by the market player for SMEs due to the rising demand for cybersecurity. The increasing number of innovative digital solutions, surging adoption of threat management services and propelling cyberattack is expected to bolster the growth of the Managed Security Market in the forthcoming period as stated in MarkNtel Advisors’ research report “Bahrain Managed Security Market Analysis, 2021”. 

According to MarkNtel Advisors’, the key players with a considerable market share in the Bahrain Managed Security market are VIVA Bahrain, F5, Fortinet, Wipro, Secureworks, IBM, Cisco, Paladion Networks, Intel etc.

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 and 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 and Event Management (SIEM), Threat Management, Threat Intelligence/Visibility, Security Vulnerability Scanning])
  2. By Enterprise Size (Small & Medium size Enterprises, Large Enterprises),
  3. By Deployment Model (On-Premises, Cloud),
  4. By End-User (Government, BFSI, Healthcare, Manufacturing, Retail, Telecom & IT, Oil & Gas, Others (Hospitality, etc.)),
  5. By Service Provider (IT Service Providers, Managed Security Specialist, Telecom Service Provider),
  6. By Company (VIVA Bahrain, F5, Fortinet, Wipro, Secureworks, IBM, Cisco, Paladion Networks, Intel etc.)

Key questions answered in the study:

  1. What are the current and future trends of the Managed Security industry?
  2. How the industry has been evolving in terms of end-user demand and application areas?
  3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
  4. What are the key growth drivers and challenges for the Managed Security industry?
  5. What is the customer orientation, purchase behaviour, and expectations from the Managed Security firms across various regions?

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