MEA Cybersecurity Market Size, Share, and Forecast [2031]
MEA Cybersecurity Market Size, Share, and Forecast [2031]
Segments - Middle East & Africa Cybersecurity Market by Solutions (Threat Intelligence & Response Management, Identity & Access Management, Data Loss Prevention Management, Security & Vulnerability Management, Unified Threat Management, and Enterprise Risk & Compliance), Services (Managed Services and Professional Services), Deployments (Cloud and On-Premise), End-user Industries (Aerospace & Defense, BFSI, Healthcare, Manufacturing, Retail, Government, and IT & Telecommunication), and Geographies (UAE, South Africa, Saudi Arabia, and Rest of Middle East & Africa) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :ICT-SE-1663
| 4.6 Rating
| 73 Reviews
| 179 Pages
| Format :
Report Description
The Middle East & Africa cybersecurity market was valued at USD 18.28 billion in 2022 and is projected to reach USD 43.81 billion by 2031, expanding at a CAGR of 10.2% between 2023 and 2031. The growth of the market is attributed to rapid digitalization, which in turn, has increased the number of connected devices and opened new gateways for cyberattacks.
Cybersecurity products provide access management, authentication procedures, detection, and responses to incidents. It also includes security updates or patch management, data recovery, mitigation of impacts, and risk & compliance management.
Cyber security is the practice of defending computers, servers, mobile devices, electronic systems, networks, and data from attacks. It is also known as IT security or electronic information security. Network security is the practice of securing a computer network from intruders, such as targeted attackers or opportunistic malware.
Application security focuses on keeping software and devices free of threats. A compromised application could provide access to the data designed to protect. Successful security begins in the design stage, before a program or device is deployed. Information security protects the integrity & privacy of data, both in storage and in transit. Operational security includes the processes and decisions for handling and protecting data assets.
Market Trends, Drivers, Restraints, and Opportunities
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Increasing deployment of interconnectivity solutions in financial sector, government services, schools, and hospitals is projected to drive the market growth.
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Growing vulnerabilities in digital communications networks and supply chains is propelling the market growth during the forecast period.
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Rapid growth in the user base of online consumers and the deficient cybersecurity infrastructure is expected to spur the market expansion.
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Rising adoption of transformative digital technologies, through the increasing penetration of the Internet and cloud to enable economic diversification is estimated to drive the market growth.
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Expanding adoption of cybersecurity solutions for digital platforms to minimize the number of threats is estimated to push the market growth in the coming years.
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Increasing demand for cybersecurity has gained traction in the water systems and pumping stations, which is anticipated to fuel the market expansion during the forecast period.
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The COVID-19 pandemic has encouraged remote working practices, which in turn, has grown the adoption of cybersecurity solutions in the region.
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Growing automation in various end-user verticals has increased the threat of cyberattacks, which is expected to proliferate the growth of the market.
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Rising R&D investments and increasing transformative digital technological advancements in the Internet and Internet of Things (IoT) are expected to create significant opportunities for the market players.
Scope of the Report
The report on the Middle East & Africa cybersecurity market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Cybersecurity Market - Middle East & Africa Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Solutions (Threat Intelligence & Response Management, Identity & Access Management, Data Loss Prevention Management, Security & Vulnerability Management, Unified Threat Management, and Enterprise Risk & Compliance), Services (Managed Services and Professional Services), Deployments (Cloud and On-Premise), End-user Industries (Aerospace & Defense, BFSI, Healthcare, Manufacturing, Retail, Government, and IT & Telecommunication) |
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Geographical Scope |
UAE, South Africa, Saudi Arabia, and Rest of Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Cisco Systems Inc., Dell Technologies, Kaspersky Lab, IBM Corporation, and Check Point Software Technologies Ltd |
Middle East & Africa Cybersecurity Market Segment Insights
Security & vulnerability management segment to account a large market share
On the basis of solutions, the market is segmented into threat intelligence & response management, identity & access management, data loss prevention management, security & vulnerability management, unified threat management, and enterprise risk & compliance.
The security & vulnerability management segment is expected to constitute a major market share during the forecast period owing to the increasing adoption of latest technologies, online entertainment, digital media, and social media. Growing demand for secure networks in order to cope with cyber-attacks, as well as to avoid facing constant network disruptions and downtime are driving the segment growth.
Professional services segment is expected to expand at a significant pace
Based on services, the market is segregated into managed services and professional services. The professional service segment is expected to grow at rapid pace in the coming years. Companies are opting for professional services to overcome specific challenges through dedicated projects, such as migrating to the cloud or deploying new technology.
Cloud segment to register at a rapid CAGR
In terms of deployments, the market is divided into cloud and on-premise. The cloud segment is anticipated to register a substantial CAGR during the forecast period. Cloud computing offers flexibility, reliability and security, that can remove the burden of business to maintain and upgrade systems.
BFSI segment is projected to hold for a key market share
Based on end-user industries, the market is classified as aerospace & defense, BFSI, healthcare, manufacturing, retail, government, and IT & telecommunication. The BFSI segment is anticipated to constitute a major market share owing to increasing investments in digital innovations, as well as focusing on enhancing the security of mobile banking and the user-experience. Moreover, rapid digitization has boosted the growth of the online payment services, driving the segment growth.
UAE to dominate the market
On the basis of geographies, the market is categorized as UAE, South Africa, Saudi Arabia and Rest of Middle East & Africa. The UAE is anticipated to dominate the market and is excepted to expand at an impressive CAGR during the forecast period. Rapid shift from conventional transaction to digitization in local and international banks has encouraged deployment of cybersecurity solutions in the UAE is driving the market growth in the country.
Segments
The Middle East & Africa cybersecurity market has been segmented on the basis of
Solutions
- Threat Intelligence & Response Management
- Identity & Access Management
- Data Loss Prevention Management
- Security & Vulnerability Management
- Unified Threat Management
- Enterprise Risk & Compliance
Services
- Managed Services
- Professional Services
Deployments
- Cloud
- On-Premise
End-user Industries
- Aerospace & Defense
- BFSI
- Healthcare
- Manufacturing
- Retail
- Government
- IT & Telecommunication
Geographies
- UAE
- South Africa,
- Saudi Arabia and
- Rest of Middle East & Africa
Key Players
- Cisco Systems Inc.
- Dell Technologies
- Kaspersky Lab
- IBM Corporation
- Check Point Software Technologies Ltd
Competitive Landscape
Key players competing in the Middle East & Africa cybersecurity market include Cisco Systems Inc., Dell Technologies, Kaspersky Lab, IBM Corporation, and Check Point Software Technologies Ltd.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Cybersecurity Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Cybersecurity Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Cybersecurity Market - Supply Chain
4.5. Global Cybersecurity Market Forecast
4.5.1. Cybersecurity Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Cybersecurity Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Cybersecurity Market Absolute $ Opportunity
5. Global Cybersecurity Market Analysis and Forecast by End Users
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by End Users
5.2.2. Y-o-Y Growth Projections by End Users
5.3. Cybersecurity Market Size and Volume Forecast by End Users
5.3.1. Aerospace & Defense BFSI Healthcare Manufacturing Retail
5.4. Absolute $ Opportunity Assessment by End Users
5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Cybersecurity Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Cybersecurity Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Cybersecurity Demand Share Forecast, 2019-2026
7. North America Cybersecurity Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Cybersecurity Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Cybersecurity Market Size and Volume Forecast by End Users
7.4.1. Aerospace & Defense BFSI Healthcare Manufacturing Retail
7.5. Basis Point Share (BPS) Analysis by End Users
7.6. Y-o-Y Growth Projections by End Users
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Cybersecurity Demand Share Forecast, 2019-2026
8. Latin America Cybersecurity Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Cybersecurity Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Cybersecurity Market Size and Volume Forecast by End Users
8.4.1. Aerospace & Defense BFSI Healthcare Manufacturing Retail
8.5. Basis Point Share (BPS) Analysis by End Users
8.6. Y-o-Y Growth Projections by End Users
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Cybersecurity Demand Share Forecast, 2019-2026
9. Europe Cybersecurity Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Cybersecurity Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Cybersecurity Market Size and Volume Forecast by End Users
9.4.1. Aerospace & Defense BFSI Healthcare Manufacturing Retail
9.5. Basis Point Share (BPS) Analysis by End Users
9.6. Y-o-Y Growth Projections by End Users
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Cybersecurity Demand Share Forecast, 2019-2026
10. Asia Pacific Cybersecurity Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Cybersecurity Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Cybersecurity Market Size and Volume Forecast by End Users
10.4.1. Aerospace & Defense BFSI Healthcare Manufacturing Retail
10.5. Basis Point Share (BPS) Analysis by End Users
10.6. Y-o-Y Growth Projections by End Users
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Cybersecurity Demand Share Forecast, 2019-2026
11. Middle East & Africa Cybersecurity Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Cybersecurity Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Cybersecurity Market Size and Volume Forecast by End Users
11.4.1. Aerospace & Defense BFSI Healthcare Manufacturing Retail
11.5. Basis Point Share (BPS) Analysis by End Users
11.6. Y-o-Y Growth Projections by End Users
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Cybersecurity Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Cybersecurity Market: Market Share Analysis
12.2. Cybersecurity Distributors and Customers
12.3. Cybersecurity Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Cisco Systems Inc. Dell Technologies Kaspersky Lab IBM Corporation Check Point Software Technologies Ltd
Methodology
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