Cyber security has become a key issue in modern day organisations. Organizations have increased their expenditure on cyber security services/products/solutions to tackle security issues (e.g. Aerospace & Defense, Retail and BFSI) and to protect sensitive data from the hackers.
Government, BFSI and Energy & Utilities are more vulnerable to cyber-attacks. The demand for cyber security products are high from these end users.
The GCC regions has been repeatedly subjected to cyber-attacks due to their strategic geographic presence and economic significance.
The Middle East Cyber Security market is expected to grow at a CAGR of 22.5% during the forecast period 2016–2022.
The rising adoption of cloud technology from enterprises (small enterprise to larger enterprise) is expected to boost the cloud security market in the next few years.
Segmentation by Countries
The market is segmented and analyzed by the following Middle East countries- UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman, Turkey, Yemen, Israel and Jordan. Saudi Arabia, Turkey, and UAE countries will outperform the other countries in terms of market growth.
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Segmentation by Application Verticals
The market is segmented by the following end-user verticals- BFSI, Retail & Wholesale Distribution, Hospitality, Media and Entertainment, Transport and Logistics, Manufacturing, Education, Energy & Utilities, Aerospace & Defense, Healthcare, IT and Telecom and Government.
The BFSI and Energy & Utilities industries contributed 34% of the Middle East Cyber Security market in 2016.
The Education and Transportation & Logistics verticals will be the emerging verticals for the Middle East Cyber Security Market growth in the next few years.
Segmentation by Solutions
The market is segmented by solutions- Identity & Access Management (IAM), IDS/IPS, Risk & Vulnerability Management, DDoS Mitigation, Business Continuity & Disaster Recovery, Data Encryption, Data Loss Prevention (DLP), Unified Threat Management and Antivirus/Antimalware.
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Some of the key industry players include BAE System, Cisco System, Inc., Check Point Software Technology, and MacAfee.
Competitive benchmarking is done for the leading vendors based on key metrics- key offerings, business objectives, business strategy etc.
Current and predicted business strategies for the leading companies of the market such as BAE System, Cisco System, Inc., Check Point Software Technology, and MacAfee.
The study offers an opportunity to the market players to improve their current business approach by providing strategic intelligence about the competitive landscape.