Middle East and Africa Cybersecurity Market Trends, Share, Demand, Revenue and Future Outlook
Middle East and Africa Cybersecurity Market Growth, Size, Trends Analysis- By Security Type, By Enterprise Size, By Industry- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Nov-2024 | Report ID: IACT24191 | Pages: 1 - 158 | Formats*: |
| Category : Information & Communications Technology | |||
Middle East & Africa Cybersecurity Market Introduction and Overview
According to SPER Market Research, the Middle East & Africa Cybersecurity Market is estimated to reach USD 8.42 billion by 2033 with a CAGR of 12.65%.
The report includes an in-depth analysis of the Middle East & Africa Cybersecurity Market, including market size and trends, product mix, Applications, and supplier analysis. The technology, services, and solutions used in tandem to defend system and network data against cyberattacks and threats are collectively referred to as cyber security solutions. Data leaks and security attacks on sensitive data from unauthorized exploitation are prevented by the cyber security solutions.
- 2024: Cisco announced the opening of a new local cloud data center in the UAE for its Duo multifactor authentication (MFA) and secure access solution to support cybersecurity readiness.
- In March 2023, CYMAR Management Ltd. teamed up with Saiber Innovation Technologies, a Smart Port technology business, to expand the need for cyber insurance in the UAE's international logistics and maritime industry. Through this agreement, the sector that is most at risk from cyberattacks will have its demanding cyber insurance needs met.
- In February 2023, EMTECH announced a collaboration with KnowBe4, a platform that simulates phishing attacks and offers security awareness training. Through this cooperation, EMTECH will be able to protect their IT network from human mistake in the UAE market by integrating with KnowBe4's security awareness training and simulated phishing platform capabilities.
Market Opportunities and Challenges
Opportunities: Surging Government Initiatives to Improve Cyber Capabilities - Governments in the Middle East are strategizing and developing initiatives to strengthen the region's cybersecurity capabilities. The rapid increase in digitization has enabled governments in nations such as Saudi Arabia and the UAE to implement cyber security measures to protect critical information about the country and its citizens. Governments have formed specific institutions and regulatory entities to ensure that the stramlines work and that cyberattacks are mitigated at the national level. Governments in nations such as the UAE, Saudi Arabia, and Qatar are developing numerous initiatives, regulations, and specific institutions such as the National Electronic Security Authority (NESA) in the UAE and the National Cybersecurity Authority (NCA) in Saudi Arabia, among others.
Challenges: Unavailability of Skilled Professionals to Manage Cyber Security Solutions – The increasing number of cyber security issues and threat cases across the region are leading to the surging demand for technologically advanced cyber security solutions, including software as well as hardware components. The integration of various technically advanced algorithms and regular maintenance and bug detection requires skilled professionals to efficiently manage these issues. However, the lack of skilled individuals in the region poses a significant drawback in the overall regional market growth. The lack of education programs and training, particularly for IT technicians, in Middle Eastern countries is a key market restraint. Individuals with limited access to education lack the necessary skills to handle complex processes. Furthermore, strict competition and higher pay scales for cybersecurity technicians present additional hurdle to the Middle Eastern Cybersecurity Market.
Market Competitive Landscape
The cybersecurity market in the Middle East and Africa is highly competitive, with several large competitors. These large firms with a sizable market share are working on growing their consumer bases in foreign nations. These companies use strategic collaborative activities to grow their market share and profitability. Key market players are Cisco Systems Inc, Dell Technologies, Kaspersky Lab, IBM Corporation, Check Point Software Technologies Ltd.
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 Security Type, By Enterprise Size, By Industry. |
| Regions covered | South Africa, Nigeria, Kenya, Ghana, United Arab Emirates, Egypt, Rest of Middle East & Africa. |
| Companies Covered | Cisco Systems Inc, Dell Technologies, Kaspersky Lab, IBM Corporation, Check Point Software Technologies Ltd, Palo Alto Networks Inc, Broadcom Inc, Trend Micro Inc, FireEye Inc. |
COVID-19 Impact on Middle East & Africa Cybersecurity Market
The MEA cybersecurity market has been greatly impacted by the COVID-19 pandemic. Organizations are now more vulnerable to cyberattacks due to the abrupt move to remote employment and a greater reliance on digital platforms. By distributing malware, starting phishing campaigns, and focusing on weak remote access points, cybercriminals have taken advantage of the situation. Consequently, companies have increased their efforts in cybersecurity to fortify their defenses and guarantee the safety of remote work settings.
By Industry Insights
The BFSI industry is expected to grow significantly and gain a sizable market share throughout the forecast period. It is mostly due to the rapidly expanding demand for strong security measures to protect privacy across banks, financial institutions, and insurance firms. As a result, demand for cyber security services and solutions to minimize and decrease cyber threats and assaults among these institutions is rapidly increasing, driving market expansion throughout the BFSI industry. Furthermore, with an increased preference for cloud solutions for faster services and simpler transactions, the BFSI sector is actively seeking these solutions to secure confidential data combined with real-time intelligence against persistent cyber-attacks and extend their customer base.
Key Target Audience:
- Government and Defense Organizations
- Financial Institutions and Banks
- IT and Telecom Companies
- Energy and Utilities Sector
- Healthcare Organizations
- Retail and E-commerce Companies
- Manufacturing and Industrial Enterprises
- Educational Institutions
- Transportation and Logistics Companies
- Media and Entertainment Companies
Our in-depth analysis of the Middle East & Africa Cybersecurity Market includes the following segments:
| By Security Type: | |
| By Enterprise Size: | |
| By Industry: |
Key Topics Covered in the Report:
- Middle East & Africa Cybersecurity Market Size (FY’2024-FY’2033)
- Overview of Middle East & Africa Cybersecurity Market
- Segmentation of Middle East & Africa Cybersecurity Market By Security Type (Network Security, Cloud Application Security, End-point Security, Secure Web Gateway, Application Security, and Others)
- Segmentation of Middle East & Africa Cybersecurity Market By Enterprise Size (Small & Medium-sized Enterprises and Large Enterprises)
- Segmentation of Middle East & Africa Cybersecurity Market By Industry (BFSI, IT and Telecommunications, Retail, Healthcare, Government, Manufacturing, Travel and Transportation, Energy and Utilities, and Others)
- Statistical Snap of Middle East & Africa Cybersecurity Market
- Expansion Analysis of Middle East & Africa Cybersecurity Market
- Problems and Obstacles in Middle East & Africa Cybersecurity Market
- Competitive Landscape in the Middle East & Africa Cybersecurity Market
- Impact of COVID-19 and Demonetization on Middle East & Africa Cybersecurity Market
- Details on Current Investment in Middle East & Africa Cybersecurity Market
- Competitive Analysis of Middle East & Africa Cybersecurity Market
- Prominent Players in the Middle East & Africa Cybersecurity Market
- SWOT Analysis of Middle East & Africa Cybersecurity Market
- Middle East & Africa Cybersecurity Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPERs internal database2.1.4. Premium insight from KOLs
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. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Middle East & Africa Cybersecurity Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Middle East & Africa Cybersecurity Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Middle East & Africa Cybersecurity Market
7. Middle East & Africa Cybersecurity Market, By Security Type (USD Million) 2020-2033
7.1. Middle East & Africa Cybersecurity Market Size, Share and Forecast, By Security Type, 2020-20267.2. Middle East & Africa Cybersecurity Market Size, Share and Forecast, By Security Type, 2027-20337.3. Network Security7.4. Cloud Application Security7.5. End-point Security7.6. Secure Web Gateway7.7. Application Security7.8. Others
8. Middle East & Africa Cybersecurity Market, By Enterprise Size (USD Million) 2020-2033
8.1. Middle East & Africa Cybersecurity Market Size, Share and Forecast, By Enterprise Size, 2020-20268.2. Middle East & Africa Cybersecurity Market Size, Share and Forecast, By Enterprise Size, 2027-20338.3. Small & Medium Enterprises (SMEs)8.4. Large Enterprises
9. Middle East & Africa Cybersecurity Market, By Industry (USD Million) 2020-2033
9.1. Middle East & Africa Cybersecurity Market Size, Share and Forecast, By Industry, 2020-20269.2. Middle East & Africa Cybersecurity Market Size, Share and Forecast, By Industry, 2027-20339.3. BFSI9.4. IT and Telecommunications9.5. Retail9.6. Healthcare9.7. Government9.8. Manufacturing9.9. Travel and Transportation9.10. Energy and Utilities9.11. Others
10. Middle East & Africa Cybersecurity Market Forecast, 2020-2033 (USD Million)
10.1. Middle East & Africa Cybersecurity Market Size and Market Share
11. Middle East & Africa Cybersecurity Market, By Region, 2020-2033 (USD Million)
11.1. Middle East & Africa Cybersecurity Market Size and Market Share By Region (2020-2026)11.2. Middle East & Africa Cybersecurity Market Size and Market Share By Region (2027-2033)11.3. South Africa11.4. Nigeria11.5. Kenya11.6. Ghana11.7. United Arab Emirates11.8. Egypt11.9. Rest of Middle East & Africa
12. Company Profile
12.1. Cisco Systems Inc
12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments
12.2. Dell Technologies
12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments
12.3. Kaspersky Lab
12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments
12.4. IBM Corporation
12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments
12.5. Check Point Software Technologies Ltd
12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments
12.6. Palo Alto Networks Inc
12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments
12.7. Broadcom Inc
12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments
12.8. Trend Micro Inc
12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments
12.9. FireEye Inc
12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments
12.10. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Middle East & Africa Cybersecurity Market is projected to reach USD 8.42 billion by 2033, growing at a CAGR of 12.65% during the forecast period.
Middle East & Africa Cybersecurity Market grew in Market size from 2024. The Market is expected to reach USD 8.42 billion by 2033, at a CAGR of 12.65% during the forecast period.
Middle East & Africa Cybersecurity Market CAGR of 12.65% during the forecast period.
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Middle East & Africa Cybersecurity Market size is USD 8.42 billion from 2024 to 2033.
Middle East & Africa Cybersecurity Market is covered By Security Type, By Enterprise Size, By Industry.
The Middle East and Africa is anticipated to have the highest Market share in the Middle East & Africa Cybersecurity Market.
The key players in the Market include Companies Covered Cisco Systems Inc, Dell Technologies, Kaspersky Lab, IBM Corporation, Check Point Software Technologies Ltd, Palo Alto Networks Inc, Broadcom Inc, Trend Micro Inc, FireEye Inc.
The technology, services, and solutions used in tandem to defend system and network data against cyberattacks and threats are collectively referred to as cyber security solutions.
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