Middle East Cybersecurity Market

Middle East Cybersecurity Market Size & Share | MarketsandMarkets

The Middle East cybersecurity market is expected to increase from USD 14.8 billion in 2023 to USD 23.4 billion by 2028, with a compound annual growth rate (CAGR) of 9.6% during the forecast period.

The Middle East cybersecurity market's growth is fueled by the region's thriving startup ecosystem, which is shaping its trajectory towards innovation and resilience. Furthermore, KSA Vision 2030 plays a critical role in propelling market dynamics as regulatory initiatives gain traction to address the changing threat environment. The strategic alignment with Vision 2030 creates a conducive environment for cybersecurity advancement.

Simultaneously, widespread adoption of cloud technology accelerates, fueled by digital transformation initiatives across industries. This convergence of factors highlights the region's commitment to ensuring its digital security.

Middle East Cybersecurity Market is poised for substantial growth in the coming years, driven by several key factors:

  • Increasing Cyber Threats
  • Digital Transformation
  • Regulatory Compliance
  • Rising Adoption of Cloud Services
  • IoT Proliferation
  • Increasing Investment in IT Infrastructure
  • Awareness and Education

These growth factors collectively contribute to the expansion of the Middle East cybersecurity market, creating opportunities for cybersecurity vendors, service providers, and investors in the region.

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Increasing Cyber Threats:

  • The region is experiencing a rise in cyber threats targeting critical infrastructure, government entities, and businesses, necessitating robust cybersecurity solutions.

Digital Transformation:

  • Accelerated digital transformation initiatives across industries are expanding the attack surface, driving demand for cybersecurity solutions to protect digital assets and data.

Regulatory Compliance:

  • Compliance with cybersecurity regulations and standards, such as UAE's Information Assurance Standards (IAS) and Saudi Arabia's National Cybersecurity Authority (NCA) requirements, is driving investment in cybersecurity solutions to meet regulatory requirements.

Rising Adoption of Cloud Services:

  • With the growing adoption of cloud computing, there's an increased need for cloud security solutions to safeguard data and applications hosted in cloud environments from cyber threats.

IoT Proliferation:

  • The proliferation of Internet of Things (IoT) devices in sectors like healthcare, manufacturing, and smart cities is driving demand for IoT security solutions to mitigate risks associated with interconnected devices.

Increasing Investment in IT Infrastructure:

  • Governments and organizations in the Middle East are investing in upgrading their IT infrastructure, including network security, endpoint protection, and identity management solutions, to enhance cybersecurity resilience.

Awareness and Education:

  • There's a growing awareness of cybersecurity threats among organizations and individuals in the Middle East, leading to increased investment in cybersecurity education, training, and awareness programs.

Middle East Cybersecurity Market Share - Global Industry Landscape :

  • Trellix (US)
  • EDGE Group (UAE)
  • SecureWorks (US)
  • CPX (UAE)
  • MDS UAE (UAE)
  • Forescout (US)

Trellix (US):

  • Market Share: Trellix holds a notable share in the Middle East cybersecurity market, particularly in providing advanced threat detection and response solutions.
  • Key Offerings: Trellix offers a range of cybersecurity solutions, including threat intelligence, endpoint protection, network security, and security analytics, to help organizations defend against cyber threats effectively.

EDGE Group (UAE):

  • Market Share: As a prominent player in the UAE, EDGE Group has a significant market share in providing comprehensive cybersecurity solutions and services tailored to regional needs.
  • Key Offerings: EDGE Group offers a wide range of cybersecurity solutions, including managed security services, threat intelligence, incident response, and advisory services, catering to government and commercial sectors in the Middle East.

SecureWorks (US):

  • Market Share: SecureWorks is recognized for its strong presence in the Middle East cybersecurity market, offering managed security services and threat intelligence solutions.
  • Key Offerings: SecureWorks provides managed detection and response (MDR) services, threat intelligence, vulnerability management, and incident response services to help organizations proactively defend against cyber threats and minimize security risks.

CPX (UAE):

  • Market Share: CPX is a key player in the UAE cybersecurity market, specializing in delivering integrated cybersecurity solutions and consulting services.
  • Key Offerings: CPX offers a comprehensive suite of cybersecurity solutions, including network security, endpoint protection, security consulting, penetration testing, and security training, addressing the diverse cybersecurity needs of organizations in the Middle East.

MDS UAE (UAE):

  • Market Share: MDS UAE is a prominent cybersecurity provider in the region, offering a range of cybersecurity solutions and services tailored to the specific requirements of organizations in the Middle East.
  • Key Offerings: MDS UAE provides cybersecurity solutions encompassing managed security services, threat intelligence, security consulting, compliance management, and security awareness training, helping organizations enhance their cybersecurity posture and resilience.

Forescout (US):

  • Market Share: Forescout is known for its innovative cybersecurity solutions and has established a significant presence in the Middle East market, particularly in network visibility and device security.
  • Key Offerings: Forescout offers network security solutions specializing in device visibility, control, and compliance, enabling organizations to identify and mitigate security risks associated with connected devices across their networks.

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

Middle East Cybersecurity Market Size,  Share & Growth Report
Report Code
TC 2559
RI Published ON
4/6/2024
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