The UAE Cloud Security market is expected to grow at a CAGR of around 13.26% during the forecast period, 2022-27, says MarkNtel Advisors in their recent research report. The rapid increase in the adoption of cloud platforms & services by enterprises as well as the UAE government has elevated the need for cloud security during 2017-21. Furthermore, the rapid investments by global & regional cloud service providers in the country resulted in escalating market growth.
In addition, the proactive government measures towards strengthening the country’s cybersecurity, increasing adoption of cloud services by SMEs for achieving scalability & cost-effectiveness, and mitigating cyberattacks, among others, have driven the demand for cloud security solutions during the historical years. Furthermore, the UAE government's ever-increasing initiatives to automate government activities in order to improve service delivery & increase accessibility on government portals through cloud implementation have reduced the risk of cyberattacks & security breaches affecting sensitive public data.
Furthermore, the UAE has implemented a cloud-first policy for catalyzing cloud adoption in the private & public sectors, due to which the country has seen a burgeoning prevalence of cloud-based solutions. Moreover, the appreciable steps, including the UAE Vision 2021, National Innovation Strategy, TRA Vision, etc., taken up by the UAE government have widened the scope of cloud security solutions in the country, which would grow considerably in the forecast years, i.e., 2022-27.
Large Scale Enterprise Holds a Significant Share in the UAE Cloud Security Market
Based on the enterprise size, the market is divided into Large-scale Enterprises and Small- & Medium-sized Enterprises. Among them, the large enterprises held a notable share in the UAE cloud security market during the historical period. The growing adoption of cloud storage services & Software as a Service (SaaS) platforms has fueled the market growth. Hence, the adoption of cloud security has increased among large-scale businesses to avoid cyberattacks & provide full-time security on online platforms.
In addition, the growing expansion of offices & multi-national companies (MNCs) in the UAE has also contributed significantly to the growth of the cloud security market, as companies have increasingly adopted cloud services platforms to deliver an extensive range of online services.
Public Cloud to Witness Substantial Growth in the UAE Cloud Security Market
By deployment type, the market is bifurcated into Public Cloud, Private Cloud, Hybrid Cloud, and Multi-Cloud Deployment types. During the past few years, the public cloud has dominated the UAE Cloud Security market. Additionally, the widespread adoption of public cloud services by small- & medium enterprises (SMEs) in the region is one of the key drivers of market growth. Furthermore, companies are drawn to the public cloud because of its scalability, digital transformation capabilities, and cost-effectiveness.
In addition, the public cloud offers simple per-use fees for CPU cycles, storage, and bandwidth. Besides, public cloud services can save about 35% of the corporation’s annual operational costs. Moreover, the public cloud lowers IT expenditures by eliminating the costs of buying, administering, and maintaining on-premises hardware & application infrastructure. Subsequently, the demand for cloud security in the public cloud has grown rapidly, reveals MarkNtel Advisors in their research report, "The UAE Cloud Security Market Analysis, 2027."
Key Market Competitors
According to MarkNtel Advisors, the leading players in the UAE Cloud Security Market are IBM Middle East FZ LLC, UAE, Oracle Systems Limited, Microsoft Gulf FZ LLC (Microsoft Gulf), AWS Dubai, Juniper Networks Inc., Cisco Middle East, Broadcom, Palo Alto Networks UAE, CyberArk Software Inc., Fortinet Inc., Others.
Key Questions Answered in the Study