Middle East and Africa Cybersecurity Market by Component (Software, Hardware, and Services), Software (IAM, Encryption and Tokenization, and Other Software), Security Type, Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2028
[385 Pages Report] MarketsandMarkets forecasts the Middle East and Africa Cybersecurity Market size to grow from an estimated USD 22.2 billion in 2023 to USD 36.2 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 10.2%. Factors driving market growth include the growing adoption of cybersecurity solutions and services due to the rising number of cyber-attacks, the growing era of eCommerce along with digital payment solutions, and the growing demand for digital transformation initiatives. However, insuffiecient regulatory frameworks; and low cyber security budget and spending is expected to hinder the market growth.
To know about the assumptions considered for the study, Request for Free Sample Report
Middle East and Africa Cybersecurity Market Dynamics
Driver: Increased cyber threats and attacks
The Middle East and Africa region has been a target of various cyber threats and attacks in recent years. These threats and attacks are often carried out by state-sponsored groups, cybercriminals, or hacktivists seeking to disrupt the region's political and economic stability. Cyberattacks have become more frequent and sophisticated as the region's economy and businesses become more digitalized. These attacks can have significant financial and reputational impacts on businesses, leading to an increased demand for cybersecurity solutions to protect against them. A report by Trend Micro showed that the Middle East and Africa region saw a 23% increase in cybercrime from Q1 to Q2 in 2021, with the financial sector being the most targeted industry. According to a report by Cybersecurity Insiders, the Middle East and Africa region saw a 56% increase in data breaches in 2021 compared to the previous year. This highlights the growing need for businesses and governments to invest in cybersecurity solutions to protect sensitive information.
Restraint: Lack of awareness and understanding
Lack of awareness is a significant issue in the cybersecurity market in the Middle East and Africa region. Many organizations in the Middle East and Africa region have limited resources and are often unable to invest in cybersecurity measures. As a result, they may not be aware of the latest threats and vulnerabilities in the cyber landscape. Cybersecurity is often not a priority for many organizations in the Middle East and Africa region. They may focus more on other aspects of their business, such as revenue growth, and may not realize the potential damage that a cyberattack can cause. A lack of education and training in cybersecurity in the Middle East and Africa region can lead to a lack of awareness. Many organizations may not understand the potential risks associated with their IT systems and may not have the necessary skills to implement effective cybersecurity measures. Cultural factors may sometimes contribute to a lack of cybersecurity awareness. For example, some organizations may be hesitant to share information about security breaches or vulnerabilities due to concerns about reputation and loss of trust.
Opportunity: Cross sector collaboration
Cross-sector collaboration is becoming increasingly important in the cybersecurity market in the Middle East and Africa region. This collaboration involves sharing information, resources, and expertise between different sectors, such as government, finance, healthcare, and energy, to strengthen cybersecurity measures and protect against cyber threats. Several initiatives have been launched in the Middle East and Africa region to encourage cybersecurity information sharing between different sectors. For example, the UAE Computer Emergency Response Team has established partnerships with various sectors, including telecommunications, finance, and transportation, to share intelligence on cyber threats and vulnerabilities.
Challenge: Limited cybersecurity budget
Limited cybersecurity budgets are a significant challenge that many organizations in the Middle East and Africa region face when it comes to cybersecurity. With limited financial resources, it becomes difficult for these organizations to invest in advanced security technologies, hire skilled cybersecurity professionals, and build a comprehensive cybersecurity program. One of the main reasons for the limited cybersecurity budgets in the Middle East and Africa region is the low priority given to cybersecurity. Many organizations do not understand the potential impact of cyber threats or recognize the need to invest in cybersecurity. According to a survey by Ernst & Young, only 27% of organizations in the Middle East have a dedicated cybersecurity budget. Additionally, cybersecurity is often viewed as a cost center rather than a revenue generator, making it difficult for organizations to justify investing in cybersecurity.
Middle East and Africa Cybersecurity Market Ecosystem
The cybersecurity ecosystem in the Middle East and Africa region is complex and dynamic, with multiple players involved in delivering cybersecurity solutions across various areas, including network, cloud, application, and endpoint & IoT device security. In terms of network security, the ecosystem includes hardware and software manufacturers, system integrators, Managed Security Service Providers (MSSPs), and end users. Network security solutions in the Middle East and Africa region include firewalls, intrusion detection and prevention systems, VPNs, and other technologies that protect networks against cyber threats.
To know about the assumptions considered for the study, download the pdf brochure
By Component, the hardware segment to grow at the highest CAGR during the forecast period
Hardware devices are an essential component of cybersecurity, including encryption, network access control (NAC), firewalls, and authentication tokens. Hardware encryption provides protection to data both at rest and in transit by utilizing specialized electronic circuits integrated with storage drives, enabling full channel speed encryption without requiring software or driver installation. This technology safeguards data stored on devices from various attacks, such as malicious codes, brute force attacks, and cold boot attacks. As technology continues to evolve, smaller and more efficient neuromorphic chip-based systems are expected to replace larger hardware devices. High-computational hardware devices are designed to handle graphic-intensive applications, enabling high-quality image rendering, animations, and videos. These advancements are among the factors driving the growth of the cybersecurity market in the Middle East and Africa.
By Software, the Log Management and SIEM segment to grow at the highest CAGR during the forecast period
IT organizations utilize software tools such as Security Information and Event Management (SIEM) and log management to monitor their security posture, detect and respond to Indicators of Compromise (loC), and conduct forensic data analysis and investigations into network events and possible attacks using log files. Log management is a continuous practice that involves the collection, storage, processing, synthesis, and analysis of data from various programs and applications to improve system performance, identify technical issues, manage resources effectively, enhance security, and ensure compliance. Log files, which are computer-generated files, capture activity within the operating system or software applications and document system administrator-designed information such as error reports, messages, file requests, and file transfers automatically.
By Service, the professional segment is expected to account for largest market share during the forecast period
Professional services are the services provided by product vendors to strategically help clients organize, design, analyze, implement, and manage technological systems. These services play a vital role in any ecosystem. The professional services include consulting, training and education, design and implementation, risk and threat assessment, and support and maintenance. As these services are complex, service providers must possess high-level technical skills and expertise.
By Security Type, the Application Security segment is expected to grow at the highest CAGR during the forecast period
Security solutions enable enterprises to secure their business-sensitive applications through greater visibility and control. Using existing security solutions, such as IAM, web filtering, and application whitelisting, enables the security of enterprise applications and software codes from external and internal threats, including web attacks, DDoS, site scraping, and fraud. Business-sensitive applications are one of the primary targets of attackers, as they carry information about critical assets and processes followed by enterprises. Several organizations rely on network security and neglect applications, which creates a security gap and makes them susceptible to attacks. Cybersecurity solutions and services prevent user applications from being attacked. These solutions and services collect security and event information from all web applications, after which they analyze the data for vulnerable or malicious events and study the event behavior to protect user applications.
By Deployment Mode, the Cloud segment is expected to grow at the highest CAGR during the forecast period
The cloud deployment mode is the fastest-growing segment in the Middle East and Africa cybersecurity market. Using cloud-based cybersecurity solutions, organizations can avoid hardware, software, storage, and technical staff costs. Cloud-based platforms offer a unified way to secure business applications via SaaS-based security services. These platforms are beneficial for organizations that have strict budgets for security investments. SMEs deploy their solutions in the cloud, enabling them to focus on their core competencies rather than invest their capital in security infrastructures. The cloud deployment mode is growing as cloud cybersecurity solutions are easy to maintain and upgrade. Furthermore, deploying security solutions in the cloud can help businesses focus on their core operational functionalities rather than increasingly investing in capital infrastructure for IT security. Cloud-based cybersecurity solutions help secure Access Control Management (ACM) in a physical and virtualized cloud data center environment. Enterprises that have completely migrated their IT capabilities to the cloud increasingly deploy cloud-based cybersecurity solutions, driving the market growth.
By vertical, the healthcare segment is expected to grow at the highest CAGR during the forecast period
The future of healthcare lies in the increase in interconnected IoMT devices, augmented reality, and robotics. This clarifies that most healthcare organizations' current perimeter-based security model will no longer be effective. To stay ahead of these trends, healthcare organizations are expected to invest in the basics while making a fundamental shift from the castle-and-moat approach to a cybersecurity model. Various compliance acts, such as HIPPA and PCI DSS, also encourage the adoption of cybersecurity solutions in the healthcare vertical. Recent attacks on Electronic Health Records (EHRs) have led SMEs and large healthcare organizations to invest in cybersecurity architecture and defend and prevent attacks from internal and external threat actors. Healthcare IT security teams are strengthening their network infrastructure with different security solutions by considering each endpoint device as a hostile device, thereby encouraging the growth of the Middle East and Africa cybersecurity market.
By region, Africa is expected to grow at the highest CAGR during the forecast period
Africa has experienced a significant surge in internet usage, leading to a rise in cybercrime as hackers exploit weaknesses to gain access to sensitive information. African nations are also struggling to establish a robust cybersecurity framework to defend against these threats. This requires investing in cybersecurity technology, crafting policies and laws, and developing a competent workforce to handle cyber attacks. However, Africa faces exceptional challenges, including insufficient resources and infrastructure, political instability, and inadequate law enforcement, which complicate the cybersecurity landscape. These challenges make it more challenging to combat cybercrime effectively.
Key Market Players
Key players in the Middle East and Africa Cybersecurity market include IBM (US), Cisco (US), Palo Alto Networks (US), Check Point (Israel), Trend Micro (Japan), Fortinet (US), Norton LifeLock (US), Sophos (UK), Kaspersky (Russia), Trellix (US) and ESET (Slovakia).
Get online access to the report on the World's First Market Intelligence Cloud
- Easy to Download Historical Data & Forecast Numbers
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
Request Sample Scope of the Report
Get online access to the report on the World's First Market Intelligence Cloud
- Easy to Download Historical Data & Forecast Numbers
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
Report Metrics |
Details |
Market size available for years |
2017–2028 |
Base year considered |
2022 |
Forecast period |
2023–2028 |
Forecast units |
Value (USD Billion) |
Segments Covered |
Component, Software, Service, Security Type, Deployment Mode, Organization Size, Vertical, and Region |
Geographies covered |
Middle East and Africa |
Major companies covered |
IBM (US), Cisco (US), Palo Alto Networks (US), Check Point (Israel), Trend Micro (Japan), Fortinet (US), Norton LifeLock (US), Sophos (UK), Kaspersky (Russia), Trellix (US), ESET (Slovakia), DTS Solution (UAE), RAS Infotech (UAE), SpiderSilk (UAE), CYBERSEC CONSULTING (UAE), AHAD (UAE), CodeGreen (UAE), LogRhythm (US), Malwarebytes (US), Safe Decision (KSA), Security Matterz (KSA), Infratech (KSA), Cato Networks (Israel), Help AG (UAE), Cysiv (Egypt), CyberGate (UAE), Augmenta Cyber Security (South Africa), CipherWave (Gauteng), Defendza (UK), SecureTech (Israel), Tactical Intelligence Security Ltd. (Ghana), and ZINAD (UAE). |
Market Segmentation
Recent Developments
- In February 2023, Cisco fulfilled its commitment to simplifying IT operations by unveiling new advancements in cloud-managed networking. The company has introduced robust cloud management tools specifically designed for industrial IoT applications, streamlined dashboards that merge IT and OT operations, and adaptable network intelligence to monitor and secure industrial assets. This results in a cohesive experience that offers genuine business flexibility.
- In December 2022, Palo Alto Networks announced the successful acquisition of Cider Security, a leader in application security and software supply chain security. This acquisition will enhance Palo Alto Networks' cybersecurity offerings.
- In December 2022, Fortinet and Rockwell Automation formed a partnership to offer robust cybersecurity solutions to customers worldwide by combining advanced networking and security capabilities. The distinctive features of OT and IT environments result in varied cybersecurity risks and a distinct threat landscape for ICS systems. Hence, the need for customized security solutions to address the specific challenges arising.
Frequently Asked Questions (FAQ):
What is the definition of cybersecurity?
MarketsandMarkets defines cybersecurity as a set of technologies, processes, and practices to fortify critical systems, such as networks, physical devices, programs, information from unauthorized access, insider threats, and malicious attacks. These cyberattacks can affect data transmission across networks, cause operational disruptions, and result in money extortion-ransomware. Cybersecurity, or information security, can be provided in the form of hardware, software, and services.
What is the projected value of the Middle East and Africa Cybersecurity market?
The Middle East and Africa Cybersecurity market is expected to grow from an estimated USD 22.2 billion in 2022 to 36.1 billion USD by 2027, at a Compound Annual Growth Rate (CAGR) of 10.2% from 2023 to 2028.
Which are the key companies influencing the growth of the Middle East and Africa Cybersecurity market?
Cisco, Palo Alto Networks, Fortinet, Check Point, IBM, and Trend Micro are recognized as star players in the Middle East and Africa cybersecurity market. These companies account for a significant share of the Middle East and Africa Cybersecurity market. They offer comprehensive solutions related to cybersecurity solutions and services. These vendors offer customized solutions as per user requirements and adopt growth strategies to consistently achieve the desired growth and mark their presence in the market.
Which vertical segment is expected to grow at the highest CAGR during the forecast period?
The healthcare vertical is expected to grow at the highest CAGR during the forecast period.
Which country in the Middle East region is expected to hold the largest market size during the forecast period?
Kingdom of Saudi Arabia is expected to hold the largest market size during the forecast period.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
This study involved multiple steps in estimating the current size of the Middle East and Africa Cybersecuty market. Exhaustive secondary research was carried out to collect information on the Middle East and Africa Cybersecurity industry. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. The top-down and bottom-up approaches were employed to estimate the total market size. After that, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
Secondary sources referred to for this research study include financial statements of companies offering cybersecurity solutions/ services and information from various trade, business, and professional associations. The secondary data was collated and analysed to arrive at the overall size of the Middle East and Africa Cybersecurity market, which was validated by primary respondents.
Primary Research
Extensive primary research was conducted after obtaining information regarding the Middle East and Africa Cybersecurity market scenario through secondary research. Several primary interviews were conducted with market experts from both, the demand and supply sides across major countries of Middle East and Africa. Primary data was collected through questionnaires, emails, and telephonic interview. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors, from business development, marketing, product development/innovation teams, and related key executives from Middle East and Africa Cybersecurity vendors; system integrators; component providers; distributors; and key opinion leaders.
Primary interviews were conducted to gather insights such as market statistics, data of revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, application, vertical, and region. Stakeholders from the demand side, such as CIOs, CTOs, and CSOs, and installation teams of the customer/end users who are using cybersecurity solutions/services were interviewed to understand the buyer's perspective on the suppliers, products, component providers, and their current usage of cybersecurity solutions/services and future outlook of their business which will affect the overall market.
The breakup of the primary interviews:
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the market engineering process, top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform the market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and quantitative analysis was performed on the complete market engineering process to list key information/insights throughout the report. This entire procedure included the study of the annual and financial reports of top market players and extensive interviews for key insights from industry leaders, such as CEOs, VPs, directors, and marketing executives. All percentage splits and breakups were determined using secondary sources and verified through primary sources. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data is consolidated and added to detailed inputs and analysis from MarketsandMarkets.
Middle East and Africa Cybersecurity Market Size: Bottom Up Approach
To know about the assumptions considered for the study, Request for Free Sample Report
Middle East and Africa Cybersecurity Market Size: Top Down Approach
Data Triangulation
After arriving at the overall market size using the market size estimation processes explained above, the market was split into several segments and subsegments. The data triangulation and market breakup procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Market Definition
Cybersecurity refers to a collection of technologies, procedures, and methods used to strengthen critical systems, including networks, physical devices, software, and information, against unauthorized access, insider threats, and malicious attacks. Such attacks can disrupt data transmission across networks, lead to operational disruptions, and result in extortion or ransom demands. Cybersecurity, which is also known as information security, can be provided through hardware, software, and services.
Key Stakeholders
- Government Bodies and Public Safety Agencies
- Project Managers
- Developers
- Business Analysts
- Quality Assurance (QA)/Test Engineers
- Cybersecurity Specialists
- Cybersecurity Solution and Service Providers
- Consulting Firms
- Third-party Vendors
- Investors and Venture Capitalists
- System Integrators (SIs)
- Technology Providers
Report Objectives
- To define, describe, and forecast the Middle East and Africa cybersecurity market based on components, software, services, security types, deployment modes, organization sizes, verticals, and regions
- To provide detailed information about the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the market
- To forecast the market size across two main regions: the Middle East and Africa
- To analyze subsegments of the market with respect to individual growth trends, prospects, and contributions to the overall market
- To profile the key players of the market and comprehensively analyze their market size and core competencies
- To profile key players and comprehensively analyze their market rankings and core competencies
- To map the companies to get competitive intelligence based on company profiles, key player strategies, and game-changing developments, such as product developments, collaborations, and acquisitions
- To track and analyze the competitive developments, such as product enhancements and new product launches; acquisitions; and partnerships and collaborations, in the Middle East and Africa cybersecurity market
Available Customization
MarketsandMarkets offers the following customization for this market report:
- Additional country-level analysis of the Middle East and Africa Cybersecurity Market
- Profiling of additional market players (up to 5)
Product Analysis:
- Product matrix, which provides a detailed comparison of the product portfolio of each company in the Middle East and Africa Cybersecurity Market.
Growth opportunities and latent adjacency in Middle East and Africa Cybersecurity Market