Middle East Cyber Security

Middle East Cyber Security Market Research Report: Forecast (2021-2026)

By Component Type (Solutions [Identity & Access Management, Risk & Compliance, Encryption, Data Loss Prevention, Unified Threat Management, Firewall, Anti- Viruses, Intrusion Detection System/Intrusio Read more

  • ICT & Electronics
  • Feb 2022
  • 178
  • IT66015

Market Definition

Cyber Security is majorly technologies, services, solutions, processes, & controls to protect data in systems, networks, devices, programs, and other resources from cyber threats & attacks. With the help of these solutions, the risk of cyberattacks is reduced & eliminated, delivering protection against unauthorized exploitation of data or resources of an organization.

The Middle East has been witnessing an increasing number of cyber-attacks & cyber threats. As a result, governments of several countries in the region are massively investing in information & communication technologies. Owing to this, the risks of cyberattacks & data breaches across various end-user verticals are exponentially soaring.

Market Insights

The Middle East Cyber Security Market is projected to grow at a CAGR of around 14% during the forecast period, i.e., 2021-26. The market is driven primarily by the shift of end-users like Oil & Gas, BFSI, Healthcare, Utilities, IT & Telecom industries toward cloud computing, coupled with the surging use of technologies like the Internet of Things (IoT), Machine Learning (ML), Artificial Intelligence (AI), etc., in cyber security solutions to mitigate increasing cases of cyberattacks & threats. These aspects, in turn, are propelling the demand for robust cyber security solutions & services across organizations. 

Countries like Saudi Arabia & the UAE are undergoing rapid digitalization, which has substantially surged the use of connected devices and, in turn, paved new paths for data breaches & identity thefts. Governments, especially in these countries, are massively investing in information & communication technologies, which is why most schools, banks, government offices, & hospitals are increasingly deploying cloud solutions, with a very little focus on their security requirements.

Besides, the swiftly expanding e-commerce platforms and growing vulnerabilities of organizations toward cyber threats are other crucial aspects contributing significantly to the burgeoning demand for robust cyber security solutions across the Middle East and, in turn, driving the market.

Report Coverage Details
Study Period Historical Data: 2016-19
Base Year: 2020
Forecast Period: 2021-26
CAGR 14%
Countries Covered UAE, Saudi Arabia, South Africa
Key Companies Profiled IBM, Cisco, Fireeye, Huawei, Fortinet, Palo Alto Networks, Check Point Software Technologies, Trend Micro. Sophos, Kaspersky, Mcafee, Forcepoint, Dts Solution, Ras Infotech, Codegreen Systems, AT&T Cybersecurity, Protiviti, Logrhythm, Malwarebytes, etc.
Unit Denominations USD Million/Billion

 

Impact of Covid-19 on the Middle East Cyber Security Market

The Covid-19 pandemic in 2020 had a decelerating effect on most industries across the Middle East, and the Cyber Security Market was no exception. The governments of different countries in the Middle East imposed stringent movement restrictions & frequent lockdowns to curb the spread of this dreadful disease. 

As a result, several small & medium, and large enterprises made a sudden shift toward work-from-home policies. Additionally, some organizations witnessed unprecedented challenges like increasing cases of cyber threats & attacks, which negatively affected their business growth. 

Nonetheless, organizations began to seek robust cyber security solutions & services to address such threats & eliminate further possible attacks. It, in turn, positively impacted the Cyber Security Market across the Middle East, especially across the manufacturing, government, healthcare, and BFSI (Banking, Financial Services, & Insurance) sectors. 

Moreover, with the gradual improvement in the pandemic situation, governments have uplifted restrictions & allowed the recommencement of business operations from physical workplaces. Due to this, the market shall regain its usual growth pace with the active participation of prominent players in the coming years. Some developments by the market players to curb cyber-attacks & deliver robust security solutions & services to organizations amidst the pandemic include:

  • In May 2021, leading player Palo Alto Networks launched a solution called Zero Trust Network Security to secure all devices enabled with a hybrid network from cyber-attacks while working remotely, thereby enhancing the productivity of companies. 
  • In December 2020, another leader, IBM Corporation, introduced a threat intelligent task force called IBM Security X-Force to detect cyber threats & potential attacks beforehand. 

Middle East Cyber Security Market Research Report: Forecast (2021-2026)

Market Segmentation

Based on Deployment:

  • Cloud
  • On-Premise
  • Hybrid

Of them all, Cloud deployment is anticipated to dominate the market with the largest share during the forecast period. It owes principally to its benefits like low initial & maintenance costs entwined with the growing transformation of applications toward cloud solutions to store & secure data.

Besides, benefits like quicker deployment & payment facilities of cloud solutions and the active participation of leading players by launching advanced cloud-based cyber security solutions are also promoting their demand across the Middle East. For instance:

On the other hand, the demand for On-Premise cloud security solutions is anticipated to display considerable growth over the forecast years. It owes to the rising demand for managed security services across organizations, especially those who prefer to preserve their confidential data in-house instead of handing them over to cloud service providers.

Based on End-User:

  • Oil & Gas
  • BFSI
  • Healthcare
  • Utilities
  • IT & Telecom

Of them all, the BFSI sector is anticipated to display significant market growth during the forecast period. It owes principally to the rapidly increasing demand for robust security systems to ensure privacy across banks, financial institutions, & insurance companies. As a result, the demand for cyber security services & solutions to eliminate & reduce cyber threats & attacks among these entities is rising swiftly & fueling the market growth across the BFSI sector. Besides, with increasing inclination toward cloud solutions for quicker services & easy transactions, the BFSI sector is actively seeking these solutions to secure confidential data incorporated with real-time intelligence against insistent cyber-attacks & expand their customer base.

On the other hand, the healthcare sector is projected to demonstrate considerable market growth in the coming years. It owes principally to the growing need to secure patient data like healthcare records, insurance details, & other crucial information from cyberattacks that intend to gain insurance money falsely. In addition, increasing cases of data breaches across the healthcare sector are compromising the integrity of systems & disrupting patient care services, which are other crucial aspects encouraging the utilization of these services & driving the market across the healthcare industry. Besides, the active participation of prominent players in the market is also contributing to the market growth across the healthcare sector. For instance:

  •  In October 2018, market leader IBM Corporation acquired Red Hat Inc. & developed security services & solutions to different industries, including the healthcare sector.

Country Landscape

Geographically, the Middle East Cyber Security Market expands across:

  • UAE
  • Saudi Arabia
  • Qatar
  • Turkey
  • Israel
  • Kuwait
  • Bahrain
  • Oman
  • Egypt

Of them all, the UAE is anticipated to dominate the market with the largest share during the forecast period. It owes principally to the swiftly expanding BFSI sector & its increasing shift toward online platforms to deliver facilities like quicker services & transactions to customers. It, in turn, is propelling the demand for cyber security solutions to secure customer data from cyber threats & attacks & driving the market across the UAE.

On the other hand, Saudi Arabia is expected to display the fastest market growth during 2021-26. It owes to the rapidly increasing adoption of Information & Communications Technology (ICT) in the country, making it a hub for cyber threats & attacks. Additionally, the rapidly evolving digital transformation in Saudi Arabia is anticipated to increase the number of cyberattacks across the country, which, in turn, would substantially surge the demand for cyber security services & solutions through 2026.

Nonetheless, since most countries across the region are increasingly adopting information & communication technologies to enhance their social & economic conditions, the Middle East Cyber Security Market is anticipated to observe profitable opportunities in the coming years. Countries like Kuwait are actively taking steps toward digital transformation and developing e-health & e-government platforms. Such aspects are very likely to benefit the market across the country in the years to come.

Recent Developments by Leading Companies

  • In July 2021, market leader Fortinet introduced a firewall called FortiGate 3500F, delivering high performance in protecting hybrid data centers against cyberattacks & threats. 
  • The same year, in March, another prominent market player, IBM Corporation, introduced a new software with technologically advanced security services to help organizations manage their cloud security strategies, policies, & controls on a hybrid cloud platform. 
  • In January 2021, Fortinet launched an AI-enabled fully automated cyber threat detecting XDR solution called FortiXDR.
  • Back in December 2019, market giant Cisco expanded its product line by offering new cyber security solutions like superior threat protection, web, unified threat management, endpoint security access and policy, network & data center security, email security, advisory, integration, and managed services. These strategies are helping companies to provide a secure, intelligent, & reliable platform to manage & create a network for online business. 
  • The same year, in December, Palo Alto Networks acquired an IoT & machine identity-based company, Aporeto. It is assisting companies in enhancing their cloud security platforms & capabilities.
  • In May 2019, the leader also acquired two companies, PureSe & Twistlock, to expand its product line & deliver an extensive cloud security suite with applications. 

Market Dynamics:

Key Driver: Rapidly Expanding E-Commerce Sector Boosts the Market

The rapidly increasing number of e-commerce companies across the Middle East & their mounting focus on adopting network security solutions online platforms are projected to drive the Cyber Security Market during 2021-26. Besides, with the Covid-19 pandemic, these security solutions have become of utmost importance for online retailers. Hence, the growing adoption of these security technologies among e-commerce retailers to address various concerns over cyber-attacks & threats shall drive the market in the coming years.   

Possible Restraint: Unavailability of Skilled Professionals to Manage Security Solutions and Budget Restrictions for Small Enterprises

Due to the increasing prevalence of cyber threats & data breaches across the Middle East, the demand for technologically advanced security solutions is soaring substantially since the conventional ones are not proficient enough to attain a robust security infrastructure. However, the lack of skilled professionals required for the development & management of advanced cyber security solutions might restrain the market growth in the future. Moreover, the high initial cost to implement & update these security systems might also restrict their deployment, especially across small & medium-sized enterprises in the region.

Competitive Landscape

According to MarkNtel Advisors’, the key players with a considerable market share in the Middle East Cyber Security market are IBM, Cisco, Fireeye, Huawei, Fortinet, Palo Alto Networks, Check Point Software Technologies, Trend Micro. Sophos, Kaspersky, Mcafee, Forcepoint, Dts Solution, Ras Infotech, Codegreen Systems, AT&T Cybersecurity, Protiviti, Logrhythm, Malwarebytes etc.

Key Questions Answered in the Market Research Report 

  1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of Middle East Cyber Security Market?
  2. What is the region wise industry size, growth drivers and challenges key market trends?
  3. What are the key innovations, technology upgrades, opportunities, regulations in the Middle East Cyber Security Market?  
  4. Who are the key competitors or market players and how they perform in Middle East Cyber Security Market based on competitive benchmarking matrix?
  5. What are the key results derived from the market surveys conducted during the course of Middle East Cyber Security Market study?   

Market Outlook, Segmentation and Statistics 

  • Impact of COVID-19 on Middle East Cyber Security Market 
  • Middle East Cyber Security Market Business Cases
  • Market Size & Analysis
    • By Revenues (USD Million)
  • Market Share & Analysis
    • By Component Type
      • Solutions
        • Identity & Access Management
        • Risk & Compliance
        • Encryption
        • Data Loss Prevention
        • Unified Threat Management
        • Firewall
        • Anti- Viruses
        • Intrusion Detection System/Intrusion Prevention System
        • Security And Vulnerability Management
        • Disaster Recovery
        • Distributed Denial Of Service Mitigation
        • Web Filtering
        • Others
      • Services
        • Professional Services
          • Design & Development
          • Integration
          • Risk & Threat Assessment
          • Consulting
          • Training & Education
          • Maintenance & Upgrades
        • Managed Services
    • By Security Type
      • Network Security
      • End Point Security
      • App Security
      • Cloud Security
      • Content Security
      • Industrial Control System Security
    • By Deployment
      • Cloud
      • On Premise
      • Hybrid
    • By End Users
      • Oil & Gas
      • BFSI
      • Healthcare
      • Utilities
      • IT & Telecom
      • Others
    • By Enterprise Size
      • Large
      • Mid-Size
      • Small
    • By Country
      • UAE 
      • Saudi Arabia 
      • Qatar 
      • Kuwait
      • Oman 
      • Bahrain 
      • Turkey 
      • Egypt 
      • Israel 
    • By Company
      • Revenue Shares
      • Strategic Factorial Indexing
      • Competitor Placement in MarkNtel Quadrant
    • M Middle East Cyber Security Market Analysis Trends & Insights
    • Middle East Cyber Security Market Intellectual Property Rights Analysis
    • Middle East Cyber Security Market Analysis Hotspots & Opportunities
    • Middle East Cyber Security Market Regulations
  • Competition Outlook
    • Competitor Wise Growth Strategies
    • Company Profiles

Frequently Asked Questions

A. The Middle East Cyber Security Market is projected to grow at a CAGR of around 14% during 2021-26.

A. Cloud-based cyber security solutions are anticipated to emerge as an area of lucrative growth opportunities for the leading players in the Middle East Cyber Security Market during 2021-26.

A. The rapidly expanding e-commerce platforms integrating advanced technologies like AI, Blockchain, ML, etc., are expected to propel the demand for reliable & robust cyber security solutions & drive the Middle East Cyber Security Market through 2026.

A. With the ease of restrictions, the leading market players are introducing advanced technologies like the Internet of Things (IoT), Cloud, etc., in cyber security solutions to expand their product portfolio across the Middle East. It, in turn, would positively influence the growth of the Cyber Security Market in the region over the forecast years.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
    4. Market Segmentation
  2. Executive Summary
  3. Impact of COVID-19 on Middle East Cyber Security Market
  4. Middle East Cyber Security Market Business Cases
  5. Middle East Cyber Security Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Component Type
        1. Solutions
          1. Identity & Access Management
          2. Risk & Compliance
          3. Encryption
          4. Data Loss Prevention
          5. Unified Threat Management
          6. Firewall
          7. Anti- Viruses
          8. Intrusion Detection System/Intrusion Prevention System
          9. Security And Vulnerability Management
          10. Disaster Recovery
          11. Distributed Denial Of Service Mitigation
          12. Web Filtering
          13. Others
        2. Services
          1. Professional Services
            1. Design & Development
            2. Integration
            3. Risk & Threat Assessment
            4. Consulting
            5. Training & Education
            6. Maintenance & Upgrades
          2. Managed Services
      2. By Security Type
        1. Network Security
        2. End Point Security
        3. App Security
        4. Cloud Security
        5. Content Security
        6. Industrial Control System Security
      3. By Deployment
        1. Cloud
        2. On Premise
        3. Hybrid
      4. By End Users
        1. Oil & Gas
        2. BFSI
        3. Healthcare
        4. Utilities
        5. IT & Telecom
        6. Others
      5. By Enterprise Size
        1. Large
        2. Mid Size
        3. Small
      6. By Countries
        1. UAE
        2. Saudi Arabia
        3. Qatar
        4. Turkey
        5. Israel
        6. Kuwait
        7. Bahrain
        8. Oman
        9. Egypt
      7. By Competitor
        1. Competition Characteristics
        2. Competitor Alignment in Competition Metrix
  6. UAE Cyber Security Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Component Type
      2. By Security Type
      3. By Deployment
      4. By End User
      5. By Enterprise Size
  7. Saudi Arabia Cyber Security Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Component Type
      2. By Security Type
      3. By Deployment
      4. By End User
      5. By Enterprise Size
  8. Qatar Cyber Security Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Component Type
      2. By Security Type
      3. By Deployment
      4. By End User
      5. By Enterprise Size
  9. Turkey Cyber Security Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Component Type
      2. By Security Type
      3. By Deployment
      4. By End User
      5. By Enterprise Size
  10. Israel Cyber Security Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Component Type
      2. By Security Type
      3. By Deployment
      4. By End User
      5. By Enterprise Size
  11. Kuwait Cyber Security Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Component Type
      2. By Security Type
      3. By Deployment
      4. By End User
      5. By Enterprise Size
  12. Bahrain Cyber Security Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Component Type
      2. By Security Type
      3. By Deployment
      4. By End User
      5. By Enterprise Size
  13. Oman Cyber Security Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Component Type
      2. By Security Type
      3. By Deployment
      4. By End User
      5. By Enterprise Size
  14. Egypt Cyber Security Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Component Type
      2. By Security Type
      3. By Deployment
      4. By End User
      5. By Enterprise Size
  15. Middle East Cyber Security Market Analysis Dynamics
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  16. Middle East Cyber Security Market Business Cases
  17. Middle East Cyber Security Market Analysis Trends & Insights
  18. Middle East Cyber Security Market Intellectual Property Rights Analysis
  19. Middle East Cyber Security Market Analysis Hotspots & Opportunities
  20. Middle East Cyber Security Market Analysis Regulations
  21. Competitive Benchmarking
    1. Competition Matrix
      1. Product Portfolio
      2. Target Markets
      3. Target Security Type
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
    2. Company Profiles (Business Description, Product Offering, Target Markets, Assets, Strategic Alliances or Partnerships, etc.)
      1. IBM
      2. Cisco
      3. Fireeye
      4. Huawei
      5. Fortinet
      6. Palo Alto Networks
      7. Check Point Software Technologies
      8. Trend Micro
      9. Sophos
      10. Kaspersky
      11. Mcafee
      12. Forcepoint
      13. Dts Solution
      14. Ras Infotech
      15. Codegreen Systems
      16. AT&T Cybersecurity
      17. Protiviti
      18. Logrhythm
      19. Malwarebytes
  22. Disclaimer
Middle East Cyber Security Market Segmentation