Kenneth Research, in its repository of market research reports, have recently added a report on The Middle East and Africa Cyber Security Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The The Middle East and Africa Cyber Security Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for The Middle East and Africa Cyber Security Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Middle East and Africa Cyber Security Market to reach USD 66.5 billion by 2025.Global Middle East and Africa Cyber Security Market valued approximately USD 18.02 billion in 2016 is anticipated to grow with a healthy growth rate of more than 15.62% over the forecast period 2018-2025. Rapidly Increasing digitalization with the introduction of digital technologies for assembly, storage, analysis, and sharing of data have created need for security of this digital data, and is the major factor driving the growth of Middle East and African cyber security market. Hacking, cracking and other forms of cyber-mischief have made personal, commercial, financial and other digital data more vulnerable aiding to the requirement of cyber security and growth of the market. Increasing cyberattacks have forced administrations to improve their security measures, and to adopt cybersecurity services, this demand has boost the growth of the market.
Cyber security is basically the safeguard of internet-connected devises and system (hardware, software and data), from cyberattacks. security involves cyber security and physical security – which are used by enterprises to protect against unauthorized access to data centers and other computerized systems, such as endpoints, networks, applications, and cloud data from threats, like malwares & ransomwares, Distributed Denial of Service (DDoS) attacks, and Advanced Persistent Threats (APTs).
The regional analysis of Global Middle East and Africa Cyber Security Market is considered for the key regions such as Saudi Arabia, United Arab Emirates, South Africa, Others. Saudi Arabia is the leading/significant region across the world in terms of market share. Whereas, owing to the countries such as United Arab Emirates, South Africa region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years.
The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type of Security:
By Solution & Services:
*Threat Intelligence & Response Management
*Identity & Access Management
*Data Loss Prevention Management
*Security and Vulnerability Management
*Unified Threat Management
*Enterprise Risk and Compliance
By End-user Vertical:
*Aerospace & Defense
*IT & Telecommunication
*United Arab Emirates
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include NEC Corporation, Cisco Systems Inc., Dell Technologies Inc., Kaspersky Labs, IBM Corporation, Check Point Software Technologies Ltd, Palo Alto Networks Inc., Symantec Corporation, Trend Micro Inc., Fortinet Technologies Inc., FireEye Inc., Proofpoint Inc., CyberArk, DarkMatter, DXC Technology, F5 Networks, FireEye, Forcepoint, Fortinet, Imperva, McAfee, Micro Focus, Microsoft, Rapid7, Sophos and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Middle East and Africa Cyber Security Market in Market Study:
*Key Consulting Companies & Advisors
*Large, medium-sized, and small enterprises
*Value-Added Resellers (VARs)
*Third-party knowledge providers
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TABLE OF CONTENTS
Chapter 1. Global Middle East and Africa Cyber Security Market Definition and Scope
1.1. Research Objective
1.2. Market Definition
1.3. Scope of The Study
1.4. Years Considered for The Study
1.5. Currency Conversion Rates
1.6. Report Limitation
Chapter 2. Research Methodology
2.1. Research Process
2.1.1. Data Mining
2.1.3. Market Estimation
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