GCC Cybersecurity Market Introduction and Overview
According to SPER Market Research, the GCC Cybersecurity Market is estimated to reach USD XX billion by 2033 with a CAGR of 5.58%.
The report includes an in-depth analysis of the GCC Cybersecurity Market, including market size and trends, product mix, applications, and supplier analysis. Cybersecurity is essential for protecting software, data, networks, and computer systems against online threats while maintaining availability, confidentiality, and integrity. Its main objective is to protect against ransomware, phishing, hacking, malware, and other harmful actions. It uses a variety of proactive and reactive techniques, covering a broad range of actions and tactics. It entails putting preventative measures in place, such as access limits, firewalls, and encryption. These steps reduce vulnerabilities and strengthen the digital infrastructure. The demand for ongoing and flexible cybersecurity procedures has increased due to the Internet of Things' (IoT), cloud computing's, which has greatly expanded the attack surface. It is crucial to emphasise a strong cybersecurity posture in order to preserve the stability and confidence of digital assets.
- Dеcеmbеr 2023: Together, Siеmеns, a worldwide technology pioneer, and Gulf Business Machines (GBM), a comprehensive provider of digital solutions, helped a number of GCC industries achieve their goals for sustainability and competitiveness. The agreement was formally established at COP28 in Dubai, United Arab Emirates.
- July 2023: OryxLabs, a well-known cybersecurity company situated in Abu Dhabi, was purchased by EDGE, a global advanced technology and defence corporation. OryxLabs, which specialised in customised solutions, effectively tackled cybersecurity issues and offered exceptional services. This purchase broadens EDGE's holdings internationally.
Market Opportunities and Challenges
Opportunities- Secure cloud infrastructure and cutting-edge solutions to protect vital data are in high demand due to the GCC region's expanding use of cloud services. Companies that provide specialised cloud-based security solutions, like encryption technologies, cloud access security brokers (CASBs), and data loss prevention tools, are well-positioned to profit from this quickly growing sector. Furthermore, there are many chances for collaborative ventures, creative research, and technological improvements because of the region's strong emphasis on national cybersecurity initiatives and growing public-private sector collaborations. Businesses may significantly improve the cybersecurity ecosystem's resilience and support the region's broader digital transformation objectives by establishing strategic alliances with governmental organisations, academic institutions, and other important players.
Challenges- Despite having enormous potential, the GCC cybersecurity sector is constrained in important ways that limit its expansion and effectiveness. The severe lack of qualified cybersecurity experts in the area is one of the biggest problems. This lack of skilled professionals makes it difficult for businesses to maintain and deploy strong security solutions. Businesses are exposed to changing cyber threats because of the limited adoption of modern technology in the absence of sufficient experience. Moreover, a lot of businesses depend on security products from several suppliers, which makes compatibility and integration problems worse. Because of this fragmentation, security environments become complicated and ineffective, making it challenging to obtain a comprehensive understanding of threats and vulnerabilities. These difficulties have a major influence on the region's overall cybersecurity effectiveness.
Market Competitive Landscape
The GCC Cybersecurity Market is a highly competitive arena due to the presence of multiple global and regional companies in the competitive environment. Leading companies in the industry are BAE Systems, Thales Group, Rapid7, GCC Computers Ltd, Accenture, Cisco Systems, Inc., IBM Corporation, Oracle, Splunk Inc., Others.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Component, By Deployment Types, By User Type, By Industry Vertical |
| Regions covered | Qatar, Saudi Arabia, UAE, Rest of GCC |
| Companies Covered | BAE Systems, Thales Group, Rapid7, GCC Computers Ltd, Accenture, Cisco Systems, Inc., IBM Corporation, Oracle, Splunk Inc., Others. |
COVID-19 Impact on GCC Cybersecurity Market
The GCC cybersecurity market was affected by the COVID-19 outbreak in a number of ways, both positively and negatively. Issues with cybersecurity and cybercrime significantly intensified during the COVID-19 pandemic. This was caused by a variety of circumstances, including remote work, where data vulnerabilities were revealed as many firms hurried to adopt policies allowing remote work. A further factor is a greater dependence on IT systems. Hackers have greater chances to acquire firm data as more procedures were carried out digitally. The need for internet security services and solutions was greatly impacted by the pandemic's detrimental effects on start-ups and small businesses around the world. New cybersecurity services, such as design, integration, consulting, implementation, and professional training, have been developed as a result of the complexity of the cybersecurity environment.
Key Target Audience:
- Government Agencies
- Financial Institutions
- Telecommunications Companies
- Healthcare Organizations
- Energy and Utility Companies
- Retail and E-commerce Companies
- Small and Medium Enterprises (SMEs)
- Educational Institutions
- Technology Service Providers
- Defense and Aerospace Sector
Our in-depth analysis of the GCC Cybersecurity Market includes the following segments:
| By Component: | SolutionsServices |
| By Deployment Types: | Cloud BasedOn-Premises |
| By User Type: | Large EnterprisesSmall EnterprisesMedium Enterprises |
| By Industry Vertical: | IT and TelecomRetail, BFSIHealthcare Defense/GovernmentManufacturingEnergyOthers |
Key Topics Covered in the Report:
- GCC Cybersecurity Market Size (FY’2024-FY’2033)
- Overview of GCC Cybersecurity Market
- Segmentation of GCC Cybersecurity Market by Component (Solutions, Services)
- Segmentation of GCC Cybersecurity Market by Deployment Types (Cloud Based, On-Premises)
- Segmentation of GCC Cybersecurity Market by User Type (Large Enterprises, Small and Medium Enterprises)
- Segmentation of GCC Cybersecurity Market by Industry Vertical (IT and Telecom, Retail, BFSI, Healthcare, Defense/Government, Manufacturing, Energy, and Others)
- Statistical Snap of GCC Cybersecurity Market
- Expansion Analysis of GCC Cybersecurity Market
- Problems and Obstacles in GCC Cybersecurity Market
- Competitive Landscape GCC Cybersecurity Market
- Impact of COVID-19 and Demonetization GCC Cybersecurity Market
- Details on Current Investment in GCC Cybersecurity Market
- Competitive Analysis of GCC Cybersecurity Market
- Prominent Players in the GCC Cybersecurity Market
- SWOT Analysis of GCC Cybersecurity Market
- GCC Cybersecurity Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the GCC Cybersecurity Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. GCC Cybersecurity Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in GCC Cybersecurity Market
7. GCC Cybersecurity Market, By Component (USD Million) 2020-2033
7.1. GCC Cybersecurity Market Size, Share and Forecast, By Component, 2020-2026
7.2. GCC Cybersecurity Market Size, Share and Forecast, By Component, 2027-2033
7.3. Solutions
7.4. Services
8. GCC Cybersecurity Market, By Deployment Types (USD Million) 2020-2033
8.1. GCC Cybersecurity Market Size, Share and Forecast, By Deployment Types, 2020-2026
8.2. GCC Cybersecurity Market Size, Share and Forecast, By Deployment Types, 2027-2033
8.3. Cloud Based
8.4. On-Premises
9. GCC Cybersecurity Market, By User Type (USD Million) 2020-2033
9.1. GCC Cybersecurity Market Size, Share and Forecast, By User Type, 2020-2026
9.2. GCC Cybersecurity Market Size, Share and Forecast, By User Type, 2027-2033
9.3. Large Enterprises
9.4. Small Enterprises
9.5. Medium Enterprises
10. GCC Cybersecurity Market, By Industry Vertical (USD Million) 2020-2033
10.1. GCC Cybersecurity Market Size, Share and Forecast, By Industry Vertical, 2020-2026
10.2. GCC Cybersecurity Market Size, Share and Forecast, By Industry Vertical, 2027-2033
10.3. IT and Telecom
10.4. Retail, BFSI
10.5. Healthcare
10.6. Defense/Government
10.7. Manufacturing
10.8. Energy
10.9. Others
11. GCC Cybersecurity Market Forecast, 2020-2033 (USD Million)
11.1. GCC Cybersecurity Market Size and Market Share
12. GCC Cybersecurity Market, By Region, 2020-2033 (USD Million)
12.1. GCC Cybersecurity Market Size and Market Share By Region (2020-2026)
12.2. GCC Cybersecurity Market Size and Market Share By Region (2027-2033)
12.3. Qatar
12.4. Saudi Arabia
12.5. UAE
12.6. Rest of GCC
13. Company Profile
13.1. BAE Systems
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. Thales Group
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. Rapid7
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. GCC Computers Ltd
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. Accenture
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. Cisco Systems, Inc.
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. IBM Corporation
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Oracle
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. Splunk Inc.
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. Others
14. Conclusion
15. List of Abbreviations
16. Reference Links