IMARC Group, a leading market research company, has recently releases report titled “Middle East and Africa Cybersecurity Market Report by Component (Solutions, Services), Security Type (Network Security, Cloud Application Security, End-point Security, Application Security, and Others), Deployment Type (Cloud-based, On-premises), Organization Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), Industry Vertical (Aerospace and Defense, BFSI, IT and ITES, Healthcare, Retail and E-Commerce, Manufacturing, Energy and Utilities, Telecommunication, Transportation and Logistics, Media and Entertainment, and Others), and Country 2024-2032”. The study provides a detailed analysis of the industry, including the Middle East and Africa cybersecurity market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Middle East and Africa Cybersecurity Market?
The Middle East and Africa cybersecurity market size is projected to exhibit a growth rate (CAGR) of 16.80% during 2024-2032.
Report Attribute | Key Statistics |
|---|---|
Base Year | 2023 |
Forecast Years | 2024-2032 |
Historical Years | 2018-2023 |
| Market Growth Rate (2024-2032) | 16.80% |
Middle East and Africa Cybersecurity Market Overview:
The rising demand to face the growing occurrence of cyber threats and data breaches is one of the factors responsible for the growth of the Middle East and Africa cybersecurity market. Additionally, as digital transformation accelerates across the region, businesses, government authorities, and individual consumers are increasingly vulnerable to cyberattacks, which is creating a need for the cybersecurity market.
Besides this, the rapid adoption of cloud-based services, IoT devices, and mobile computing in the region has expanded the attack surface for cybercriminals, making robust cybersecurity measures more critical than ever, thereby stimulating the market. This trend is further reinforced by several high-profile cyberattacks in recent years, which have raised awareness about the importance of cybersecurity. Moreover, government authorities across the region are mandating stronger cybersecurity protocols and are investing in infrastructure to safeguard against cyber threats, providing a significant boost to the cybersecurity market.
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Middle East and Africa Cybersecurity Market Trends and Drivers:
A growing awareness of the economic impact of cyber threats, which is prompting increased investment in cybersecurity solutions from both the public and private sectors is further augmenting the Middle East and Africa cybersecurity market. In addition to this, businesses are adopting a more proactive approach to cybersecurity, integrating advanced security technologies to detect and prevent potential threats more effectively, which is acting as another growth-inducing factor.
Moreover, as part of national security strategies, countries like Saudi Arabia, the UAE, and South Africa are heavily investing in building their local cybersecurity capabilities to reduce reliance on foreign technologies and expertise, which is anticipated to drive the Middle East and Africa cybersecurity market over the forecasted period.
Middle East and Africa Cybersecurity Market Segmentation:
Breakup by Component:
- Solutions
- Identity and Access Management (IAM)
- Infrastructure Security
- Governance, Risk and Compliance
- Unified Vulnerability Management Service Offering
- Data Security and Privacy Service Offering
- Others
- Services
- Professional Services
- Managed Services
Breakup by Security Type:
- Network Security
- Cloud Application Security
- End-point Security
- Application Security
- Others
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
Breakup by Industry Vertical:
- Aerospace and Defense
- BFSI
- IT and ITES
- Healthcare
- Retail and E-Commerce
- Manufacturing
- Energy and Utilities
- Telecommunication
- Transportation and Logistics
- Media and Entertainment
- Others
Breakup by Country:
- United Arab Emirates
- Saudi Arabia
- Egypt
- South Africa
- Qatar
- Kuwait
- Morocco
- Others
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Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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