By Type (Security Software [Firewalls, Data Security, E-mail security, End point protection, Identity Access Management, Web Proxi, Cloud Access Security Brokers (CASB), Security I......nformation 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]), By Enterprise Size (Small & Medium size Enterprises, Large Enterprises), By Deployment Model (On-Premises, Cloud), By End-User (Government, BFSI, Healthcare, Manufacturing, Retail, Telecom & IT, Oil & Gas, Others (Hospitality, etc.)), By Service Provider (IT Service Providers, Managed Security Specialist, Telecom Service Provider), By Company (VIVA Bahrain, F5, Fortinet, Wipro, Secureworks, IBM, Cisco, Paladion Networks, Intel etc.) Read more
- ICT & Electronics
- Mar 2022
- 121
- PDF, Excel, PPT
Market Definition
Managed Security is a network of services adopted by organizations to strengthen & enhance their security infrastructures and reduce the burden of the IT team to handle cyber threats & attacks. These services are either outsourced by the service providers or conducted in-house. The most prominent applications of these security services are tracking, managing, & supervising the complex software & systems of end-users like government, BFSI, healthcare, manufacturing, retail, telecom & IT, oil & gas, and others like hospitality.
Market Insights
The Bahrain Managed Security Market is projected to grow at a CAGR of around 3% during the forecast period, i.e., 2021-26. The growth of the market is driven primarily by the swiftly increasing cases of cyber-attacks & threats, especially across Small & Medium Enterprises (SME), coupled with stringent government regulations for digitally transforming businesses.
Managed Security service solutions help minimize costs & maximize operational efficiency, facilitate quicker incident response & event investigation, and provide necessary skills & technical resources for the team to manage & administer advanced security assets. These benefits of managed security services are the prime reasons attributed to their increasing adoption across many organizations in Bahrain.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR (2021-2026) | 3% |
| Key Companies Profiled | VIVA Bahrain, F5, Fortinet, Wipro, Secureworks, IBM, Cisco, Paladion Networks, Intel, etc. |
| Unit Denominations | USD Million/Billion |
Moreover, the increasing dependency of organizations on IT departments to bring productivity & ensure cyber security is another crucial aspect propelling the demand for managed security solutions to manage data security professionally & eliminate potential threats beforehand.
Additionally, Bahrain Vision 2030 is also likely to play a crucial role in augmenting the market growth as the government is immensely investing in different sectors for their economic diversification. It, in turn, is leading to the rapid digital transformation of businesses & enhanced IT infrastructure, thereby propelling the need for managed security services and driving the market.
Impact of Covid-19 on the Bahrain Managed Security Market
The Covid-19 pandemic in 2020 had a decelerating impact on most industries across Bahrain. However, the Managed Security Market witnessed a drastic change in the operations, owing to the imposition of stringent movement limitations & lockdown by the government to curb the spread of this dreadful disease.
Initially, since most businesses implemented work-from-home policies in line with remote working & social distancing, incidents of cyber-attacks & threats rose dramatically due to the increasing vulnerabilities of organizations. Due to this, the managed security providers in Bahrain faced several challenges while delivering their services to organizations.
However, the leading market players soon began to deliver services with a robust infrastructure connecting different devices to cloud-based centers. It, in turn, introduced a temporary hike to the market growth & augmented the demand for Managed Security amidst the crisis.
Since 2021, the country is experiencing a declining number of Covid-19 cases, and the government has uplifted the restrictions & allowed the recommencement of business operations. This move is allowing the market to regain its usual growth pace & the leading market players are gradually recovering from revenue losses. Since many organizations have resumed their business operations from offices, the demand for managed security services is surging across Bahrain, and the same trend is likely to be followed in the coming years.
- Introduction
- Market Segmentation
- Product Definition
- Research Process
- Assumptions
- Executive Summary
- Case Study
- Impact of COVID-19 on Bahrain Managed Security Services Market
- Expert Verbatim- What our Experts Say?
- Bahrain Managed Security Services Market Analysis, 2016-2026F
- Market Size & Analysis
- Revenues
- Market Share & Analysis
- 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
- Security Software
- By Enterprise Size
- Small & Medium size Enterprises
- Large Enterprises
- By Deployment Model
- On-Premises
- Cloud
- By End User
- Government
- BFSI
- Healthcare
- Manufacturing
- Retail
- Telecom & IT
- Oil & Gas
- Others (Hospitality, etc.)
- By Service Provider
- IT Service Providers
- Managed Security Specialist
- Telecom Service Provider
- By Company
- Market Shares, By Revenue
- Strategic Factorial Indexing
- Competitor Placement in MarkNtel Quadrant
- By Type
- Market Attractiveness Index
- By Type
- By Enterprise Size
- By Deployment Model
- By End User
- By Service Provider
- Market Size & Analysis
- Bahrain Managed Security Services Market Policies, Regulations, Product Standards
- Bahrain Managed Security Services Market Trends & Insights
- Bahrain Managed Security Services Market Dynamics
- Growth Drivers
- Challenges
- Impact Analysis
- Bahrain Managed Security Services Market Hotspot & Opportunities
- Bahrain Managed Security Services Market Key Strategic Imperatives for Success & Growth
- Competition Outlook
- Competition Matrix
- Service Portfolio
- Target End Users
- Research & Development
- Strategic Alliances
- Strategic Initiatives
- Company Profiles of top companies (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
- VIVA Bahrain
- F5
- Fortinet
- Wipro
- Secureworks
- IBM
- Cisco
- Paladion Networks
- Intel
- Competition Matrix
- Disclaimer
MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:
1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.
2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.
3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.
4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making
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