Global Middle East Cyber Security Poised for 9.8% CAGR Growth Through 2030

According to recent findings, 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.

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Middle East Cyber Security Overview:

The industry growth is attributed to the increasing digitalization in the Middle Eastern countries across various sectors such as finance, healthcare, government, etc., creating the demand for cybersecurity solutions to prevent threats cyber attacks on the data. Furthermore, the rising number of cyberattacks across the region in various sectors is further leading the regional companies to adopt cyber security measures in their organizations, which is increasing the growth of the market. For instance:

In 2022, the kingdom of Saudi Arabia experienced around 110 million cyberthreats in total.

The growing usage of digital technologies like cloud computing, the Internet of Things (IoT), machine learning, and artificial intelligence has surged the data placements on networks increasing the vulnerability to cyber-attacks threats. Industries like finance, telecommunications, healthcare, etc., have been placing their data on the clouds networks, which is surging the cyber attacks across the industries. This, in turn, is increasing the demand for cyber security solutions across the region, driving the market growth.

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Middle East Cyber Security Outlook and Market Opportunity:

Surging Government Initiatives to Enhance the Cyber Capabilities – Government bodies across the Middle East region are strategizing and formulating efforts to enhance the cybersecurity capacities in the region. The rapid surge in digitalization has enabled the governments of countries like Saudi Arabia, the UAE, etc. to adopt cyber security measures to safeguard the sensitive information about the country and its nationals. The governments has been forming specifc organizations and regulatory bodies to ensure the stramlines work and mitigation of cybersttacks on national levels. The governments in countries such as the UAE, Saudi Arabia, Qatar, etc. are formulating various initiaves, policies and particular organizations like as the National Electronic Security Authority (NESA), the UAE, the National Cybersecurity Authority (NCA), Saudi Arabia, etc. which are framing initiatives and strategies for cyber security adoption. For instance:

In 2022, the Abu Dhabi Digital Authority launched the Cyber Eye initiative in partnership with Etisalat and Trend Micro, to surge the digital transformation in government services and to ensure the security of digital assets.

These governmental bodies are extensively collaborating with international cyber security organizations and investing heavily in cybersecurity measures which is expected to surge the demand for cyber security solutions in the region in coming years thereby creating opportunities in the Middle East Cyber Security Market.

Global Middle East Cyber Security Segmentation Analysis:

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 reports,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 reports,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)

By Countries

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

According to reports, The UAE is anticipated to dominate the market with the largest share during the forecast period.

For deeper insights into the market, explore the summary of the research report – https://www.marknteladvisors.com/research-library/middle-east-cyber-security-market.html

Some of the Market players in the Global Middle East Cyber Security 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
Others.

Middle East Cyber Security 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.

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