Cybersecurity Market

Cisco Systems, Inc. (U.S.) and Computer Sciences Corporation (U.S.) are the leading players in the Middle East Cyber Security Market

Cyber Security solutions and services help enterprises to safeguard network, endpoint, application, and cloud environment from advanced cyber security threats. The ever-changing threat landscape requires various cyber security solutions which include identity and access management, risk and compliance management, encryption, Data Loss Prevention (DLP), Unified Threat Management (UTM), firewall, antivirus/antimalware, Intrusion Detection System (IDS)/Intrusion Prevention System (IPS), security and vulnerability management, disaster recovery, Distributed Denial of Service (DDoS) mitigation, and web filtering. The increasing need to mitigate IT security risks and threats such as malware, ransomware, DDoS attacks, viruses, trojans, and Advanced Persistent Threats (APTs) requires strong cyber security solutions and services. Furthermore, globalization of industries and rise in enterprise endpoint-targeted attacks have challenged business cyber security for special protection against threats.

MarketsandMarkets expects the Middle East cyber security market size to grow from USD 11.38 Billion in 2017 to USD 22.14 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.2%. Increased instances of cyber-attacks on industry verticals such as government and public utilities, energy and power, IT and telecom, and healthcare in countries such as Saudi Arabia, UAE, Israel, Qatar, Bahrain, Kuwait, and Turkey in the Middle East region backed by deeper penetration of IT services in the region drive the demand for cyber security solutions and services.

The key players in the Middle East cyber security market include Check Point Software Technologies Ltd (Israel), Cisco Systems, Inc. (U.S.), Computer Sciences Corporation (U.S.), Forcepoint LLC (U.S.), Hewlett Packard Enterprise (HPE) Development LP (U.S.), Intel Security (U.S.), IBM Corporation (U.S.), Sophos Ltd (U.K.), Symantec Corporation (U.S.), and Trend Micro, Inc. (Japan). These players have adopted various strategies such as partnerships, agreements, mergers & acquisitions, and new product developments to achieve growth in the Middle East cyber security market.

The Middle East cyber security market witnessed a number of partnerships, agreements, and collaborations by key players from 2014 to 2017. In July 2016, Check Point collaborated with VMware to provide advanced protection on software-defined data center from advanced threats. In May 2016, Cisco collaborated with Roku, a private company that manufactures home digital media products, to expand its streaming video security solutions. In October 2016, Symantec Corporation partnered with VMware, a global cloud and mobility leader, to collaborate endpoint management and threat security capabilities. In December 2016, Trend Micro partnered with ASUSTeK Computer Inc., a multinational computer hardware and electronics company based in Taiwan, to safeguard consumers from advanced Internet of Things (IoT) threats. In June 2015, Intel Security and Honeywell Process Solutions collaborated to boost industrial infrastructure and Industrial Internet of Things (IIoT).

The key players also adopted the strategy of mergers & acquisitions to expand their geographic presence and enhance their product portfolios in untapped markets. In August 2016, Symantec acquired Blue Coat Systems, an advanced web security solutions to enhance its capabilities in advanced network, cloud security, and endpoint protection solutions. In August 2016, Cisco acquired CloudLock, Inc., a privately held cloud security company, to provide stronger visibility, compliance, and threat protection to its customers. In March 2016, IBM acquired Resilient Systems, an incident response solution provider, to provide incident response solutions in a smarter, faster, and better way. In December 2016, Sophos acquired Barricade, which is proficient in behavior-based analytics engine built on machine learning techniques, to strengthen its endpoint protection portfolio. Further in March 2016, Trend Micro acquired TippingPoint, a next-generation IPS, to integrate with the network security solutions provider and enhance its network security and advanced threat protection capabilities.

The major players also launched new products and offerings to strengthen their product portfolios and expand their offerings to existing and new clients. In November 2016, Symantec Corporation launched Symantec Endpoint Protection 14, with machine learning threat detection and memory exploit mitigation capabilities. In August 2016, Check Point launched a malware protection product for web browser named SandBlast Agent which is inbuilt with Zero Phishing technology. In July 2016, Forcepoint launched a security tool named SureView Insider Threat, which helps enterprises to be safeguarded from data theft and loss from hijacked systems, rogue insiders, stolen credentials, and negligent end-users. Recently in February 2017, Hewlett Packard Enterprise has launched HPE SecureData for Hadoop and IoT which safeguards the data during the transmission among the IoT-connected devices.

Related Reports:

Middle East Cyber Security Market by Solution (IAM, Encryption, DLP, UTM, Antivirus/Antimalware, Firewall, IDS/IPS, Disaster Recovery), Service, Security Type, Deployment Mode, Organization Size, Vertical, and Country - Forecast to 2022

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