MarkNtel Advisors recently published a detailed industry analysis of the Middle East Cyber Security Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Middle East Cyber Security Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030

The Middle East Cyber Security Market size is valued at USD14.6 billion in 2023 & is predicted to reach USD 29.7 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 9.8% during the forecast period, i.e., 2024-30.

What are the major Driver the Middle East Cyber Security industry?

Rapidly Expanding E-commerce Sector Facilitating Cyber Security Demand – The Middle Eastern countries have high share of young population, which is driving the demand for online shopping, and other digital services. The countries have high internet & smartphone penetration rates due to the growing middle class population, which is increasing the overall e-commerce sector in the country, driven by increasing access to online marketplaces across the region. For instance:

• In 2023, according to the Communications, Space, and Technology Commission (CST), the internet penetration rates in Saudi Arabia & the UAE were nearly 100%.

Furthermore, with the increasing e-commerce activities the threat of cyber attacks is increasing rapidly. Organizations are well aware about the privacy of consumer data, which is why they are adopting measures to mitigate cyber attacks driving the demand for cyber security solutions. Thus, the growing investments of organizations to safeguard the consumer data is leading them to invest in cyber security solutions across the region, which is propelling the growth of the Middle East Cyber Security Market.

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What segments define the Middle East Cyber Security Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?

• By Component
• Solutions
• Identity & Access Management- Market Size & Forecast 2019-2030 (USD Million)
• Risk & Compliance- Market Size & Forecast 2019-2030 (USD Million)
• Encryption- Market Size & Forecast 2019-2030 (USD Million)
• Data Loss Prevention- Market Size & Forecast 2019-2030 (USD Million)
• Unified Threat Management- Market Size & Forecast 2019-2030 (USD Million)
• Firewall- Market Size & Forecast 2019-2030 (USD Million)
• Anti- Viruses- Market Size & Forecast 2019-2030 (USD Million) - Market Size & Forecast 2019-2030 (USD Million)
• Intrusion Detection System/Intrusion Prevention System- Market Size & Forecast 2019-2030 (USD Million)
• Security & Vulnerability Management- Market Size & Forecast 2019-2030 (USD Million)
• Disaster Recovery- Market Size & Forecast 2019-2030 (USD Million)
• Distributed Denial of Service Mitigation- Market Size & Forecast 2019-2030 (USD Million)
• Web Filtering- Market Size & Forecast 2019-2030 (USD Million)
• Others- Market Size & Forecast 2019-2030 (USD Million)
• Services
• Professional Services- Market Size & Forecast 2019-2030 (USD Million)
• Design & Development- Market Size & Forecast 2019-2030 (USD Million)
• Integration- Market Size & Forecast 2019-2030 (USD Million)
• Risk & Threat Assessment- Market Size & Forecast 2019-2030 (USD Million)
• Consulting- Market Size & Forecast 2019-2030 (USD Million)
• Training & Education- Market Size & Forecast 2019-2030 (USD Million)
• Maintenance & Upgrades- Market Size & Forecast 2019-2030 (USD Million)
• Managed Services- Market Size & Forecast 2019-2030 (USD Million)
• By Security Type
• Network Security- Market Size & Forecast 2019-2030 (USD Million)
• End Point Security- Market Size & Forecast 2019-2030 (USD Million)
• App Security- Market Size & Forecast 2019-2030 (USD Million)
• Cloud Security- Market Size & Forecast 2019-2030 (USD Million)
• Content Security- Market Size & Forecast 2019-2030 (USD Million)
• Industrial Control System Security- Market Size & Forecast 2019-2030 (USD Million)
• By Deployment
• Cloud- Market Size & Forecast 2019-2030 (USD Million)
• On-Premise- Market Size & Forecast 2019-2030 (USD Million)
• Hybrid- Market Size & Forecast 2019-2030 (USD Million)

According to report, Cloud deployment is anticipated to dominate the market with the largest share during the forecast period.

• By End Users
• Oil & Gas- Market Size & Forecast 2019-2030 (USD Million)
• BFSI- Market Size & Forecast 2019-2030 (USD Million)
• Healthcare- Market Size & Forecast 2019-2030 (USD Million)
• Utilities- Market Size & Forecast 2019-2030 (USD Million)
• IT & Telecom- Market Size & Forecast 2019-2030 (USD Million)
• Others- Market Size & Forecast 2019-2030 (USD Million)

According to report, The BFSI sector is anticipated to display significant growth and experience a major market share during the forecast period.

• By Enterprise Size
• Large- Market Size & Forecast 2019-2030 (USD Million)
• Mid-size- Market Size & Forecast 2019-2030 (USD Million)
• Small- Market Size & Forecast 2019-2030 (USD Million)

Explore the Complete Middle East Cyber Security Market Analysis Report – https://www.marknteladvisors.com/research-library/middle-east-cyber-security-market.html

Geographical Analysis: Middle East Cyber Security Market

• By Country
• The UAE
• Saudi Arabia
• Qatar
• Turkey
• Israel
• Kuwait
• Bahrain
• Oman
• Egypt
• Rest of the Middle East

Middle East Cyber Security Market Share & Competitive Landscape:

The Middle East Cyber Security Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry's leading companies, highlighting their strengths, financial performance, and market influence.

Leading Companies in the Middle East Cyber Security Market are:

• IBM
• Cisco
• Optiv Security Inc.
• Huawei
• Fortinet
• Palo Alto Networks
• Check Point Software Technologies
• Trend Micro
• Sophos
• Kaspersky
• Mcafee
• Forcepoint
• Dts Solution
• Ras Infotech
• Codegreen Systems

Middle East Cyber Security Industry Recent Development:

• 2024: Cisco announced to launch new local cloud data centre in the UAE for its Duo multifactor authentication (MFA) and secure access solution to support cybersecurity readiness.

• 2023: Sophos launched its its advanced cybersecurity solutions and services including Sophos Managed Detection and Response (MDR) at GITEX Global 2023 held at Dubai, the UAE.

Questions Addressed in this Study

1.What factors are driving the Middle East Cyber Security Market growth?

2.How is the Middle East Cyber Security Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Middle East Cyber Security Market ?

4.What is the current size of the Middle East Cyber Security Market, and how is it projected to change in the future?

6.What is the future outlook for the Middle East Cyber Security Market in terms of technological advancements and market expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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