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3. Leading Players in Middle East Cybersecurity Industry - IBM (US), Cisco (US)

The Middle East cybersecurity market size is projected to grow from USD 14.8 billion in 2023 to USD 23.4   billion by 2028 at a Compound Annual Growth Rate (CAGR) of 9.6% during the forecast period. The growth of the Middle East cybersecurity market is fueled by the thriving startup ecosystem in the region, molding its trajectory towards innovation and resilience. In addition, KSA Vision 2030 plays a pivotal role in propelling the market dynamics as regulation initiatives gain momentum to address the evolving threat environment. The strategic alignment with Vision 2030 fosters a conducive environment for cybersecurity advancements.

Simultaneously, the widespread adoption of cloud technology gains momentum, driven by digital transformation initiatives across industries. This convergence of factors underscores the region's commitment to securing its digital landscape and its determination to stay at the forefront of technological advancements.

To know about the assumptions considered for the study download the pdf brochure

Middle East Cybersecurity Market:

Cybersecurity is an approach to safeguard endpoints, networks, applications, and data from advanced threats and vulnerabilities. This involves a set of security technologies, solutions, tools, policies, security concepts, guidelines, risk management approaches, and professional and managed services to protect critical enterprise information and infrastructure from cyberattacks, damages, or unauthorized access. With appropriate cybersecurity solutions in place, organizations can avert security attacks and breaches that eventually help in cutting down business costs and enhancing their information security infrastructure. In the Middle East, evolving developments in digitalization initiatives, and growing exposure of sophisticated cyberattacks are the major factors for the adoption of cybersecurity solutions and services. Countries across the region are establishing national cybersecurity strategies, and critical information infrastructure protection policies to safeguard the protection of vital digital assets.

Competitive overview:

The Middle East cybersecurity market is led by some of the globally established players, such as IBM (US), Cisco (US), Palo Alto Networks (US), Check Point (US), Trend Micro (Japan), Fortinet (US), Broadcom (US), Sophos (UK), Trellix (US), EDGE Group (UAE), SecureWorks (US), CPX (UAE), MDS UAE (UAE), Forescout (US), Protiviti (US), Mandiant (US), LogRhythm (US). Partnerships, agreements, collaborations, acquisitions, and product developments are various growth strategies these players use to increase their market presence.

IBM (US), a global technology and IT consulting powerhouse, ranks among the world's largest and second-most valuable companies. Recognized for pioneering technologies, IBM boasts an extensive product portfolio encompassing computer systems, software, networking, storage, and microelectronics. The company's impact spans diverse services, from infrastructure and hosting to consulting in areas ranging from mainframe computers to nanotechnology. In cybersecurity, IBM offers solutions like Identity and Access Management, cloud security, application and network security, data protection, and endpoint security. Complementing these, cybersecurity services encompass data security, consulting, secure engineering, and threat intelligence. IBM extends its influence across IT, healthcare, government, and manufacturing industries throughout the Middle East, including the UAE, Bahrain, Qatar, Saudi Arabia, Yemen, Oman, Kuwait, Lebanon, Iraq, and Jordan. With a firm commitment, IBM empowers regional organizations to navigate the evolving cyber threat landscape and safeguard their critical assets effectively.

Cisco (US), a global networking equipment provider since 1984, is renowned for its cutting-edge technological networking, security, collaboration, and cloud management solutions. With a comprehensive range of products and services, Cisco's offerings span Internet Protocol (IP)-based networking, security, and cybersecurity. The company's zero-trust security ensures holistic protection, securing access across diverse elements like users, devices, APls, loT, microservices, and containers. Cisco's innovations are pivotal in connecting industries globally, contributing significantly to networking and information technology advancement. Serving a diverse customer base, including large enterprises and small to mid-sized businesses, the company provides security solutions like Software-Defined Wireless Area Network (SD-WAN) Security, Cisco Zero Trust, Cisco Secure Data Center, and Cisco Application-First Security. The company's comprehensive portfolio also includes routers, switches, and networking technologies, complemented by strategic alliances with industry leaders. With a notable global presence, Cisco continues to be a driving force in secure and efficient communication solutions worldwide.

Apart from prominent vendors, some other key players, such as Help AG (UAE), Moro Hub (UAE), DTS Solution (UAE), Ras Infotech (UAE), spiderSilk (UAE), CyberSec Consulting (US), CodeGreen Systems (UAE), Malwarebytes (US), Safe Decision (KSA), Security Matterz (KSA), Cato Networks (Israel), CyberGate Defense (UAE) are also evolving in the middle east cybersecurity market.

According to MnM's approach to evaluating the market, most businesses use inorganic growth tactics to hold onto their market share. These agreements cover alliances, acquisitions, collaborations, and partnerships together. Product launches and corporate growth activities are abruptly affected by factors such as government regulations. On the other hand, organizations are anticipated to embrace organic growth strategies to provide end consumers with Middle Eastern cybersecurity software and professional services, which would assist businesses in boosting market revenue.

Related Reports:

Middle East Cybersecurity Market by Offering (Solutions and Services), Solution Type, Security Type, Deployment Mode (On-Premises, Cloud, Hybrid), Organization Size (Large Enterprises, SME), Vertical and Region - Global Forecast to 2028

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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USA : 1-888-600-6441
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