According to a research report “Middle East Cybersecurity Industry by Offering (Solutions and Services), Solution Type, Security Type, Deployment Mode (On-Premises, Cloud, Hybrid), Organization Size (Large Enterprises, SME), Vertical and Region – Global Forecast to 2028″ published by MarketsandMarkets, the Middle East cybersecurity market size is projected to grow from USD 14.8 billion in 2023 to USD 24.1 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 10.2% during the forecast period. The expansion of the Middle East cybersecurity market is propelled by the surge in digital transformation initiatives, driving widespread adoption of cloud technology. Regulatory efforts to counter the evolving threat environment further bolster this growth, emphasizing the critical role of cybersecurity. The Kingdom of Saudi Arabia’s Vision 2030 is also a key driver, shaping the region’s cybersecurity market dynamics. As the KSA charts a comprehensive vision, it fuels advancements in digital security. Concurrently, the Middle East witnesses a flourishing startup ecosystem that intricately shapes the trajectory of cybersecurity solutions. This confluence of factors positions the region at the forefront of cybersecurity innovation and resilience.
The Middle East cybersecurity market is experiencing rapid growth due to several factors:
Overall Market Analysis:
Middle East Cybersecurity Market: Growth Trajectory Fueled by Digital Transformation and Evolving Threats (2023-2028)
Market Size and Share:
- Projecting Growth: The Expanding Middle East Cybersecurity Market (2023-2028)
- Middle East Cybersecurity Market Share: Unlocking the Regional Landscape
Market Trends:
- Shaping the Future: Key Trends Driving Growth in the Middle East Cybersecurity Market
- Digital Transformation and Beyond: Emerging Trends in Middle East Cybersecurity
Market Segmentation:
- Understanding the Landscape: Segmentation of the Middle East Cybersecurity Market
- Services Take the Lead: A Segmented View of the Middle East Cybersecurity Market
Industry Analysis:
- The Middle East Cybersecurity Landscape: Key Players and Industry Dynamics
- Innovation at the Forefront: Examining the Middle East Cybersecurity Industry
Based on the offering, the services segment will grow at the highest CAGR during the forecasted period.
The exponential growth of the services segment in the Middle East cybersecurity market is driven by the multifaceted challenges posed by evolving cyber threats. The region has witnessed a significant surge in cyber threats and attacks, creating a heightened demand for cybersecurity solutions and services. The expanding landscape of eCommerce and digital payment solutions has intensified the need for robust cybersecurity measures, fueling the growth of services specializing in digital asset protection. The region’s stringent regulations and compliance requirements have mandated comprehensive cybersecurity services, ensuring adherence and robust data protection practices. Concurrently, the ongoing digital transformation initiatives amplify the demand for cybersecurity services essential for safeguarding digital assets and infrastructure. Moreover, the rising demand for cyber-insurance contributes significantly to the burgeoning services sector, establishing it as the fastest-growing segment in the Middle East cybersecurity market.
Middle East Cybersecurity companies
IBM (US), Cisco (US), Palo Alto Networks (US), Check Point (US), Trend Micro (Japan), Fortinet (US), Broadcom (US), Sophos (UK), Trellix (US), EDGE Group (UAE), SecureWorks (US), CPX (UAE), MDS UAE (UAE), Forescout (US), Protiviti (US), Mandiant (US), LogRhythm (US), Help AG (UAE), Moro Hub (UAE), DTS Solution (UAE), Ras Infotech (UAE), spiderSilk (UAE), CyberSec Consulting (US), CodeGreen Systems (UAE), Malwarebytes (US), Safe Decision (KSA), Security Matterz (KSA), Cato Networks (Israel), CyberGate Defense (UAE), Eviden (France), sirar (KSA), Gulf Business Machines (UAE), SITE (KSA), SAMI-AEC (KSA), Taqnia Cyber (KSA) are the key players and other players in the middle east cybersecurity market.
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