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The "The Middle East and Africa Cybersecurity Market (2018-2023)" report has been added to ResearchAndMarkets.com's offering.
The Middle East and Africa cybersecurity market is predicted to expand at a CAGR of 11.9%, and is expected to be valued at USD 23.4 Bn by 2023.
Robust digitalization in verticals like banking and financial services, the government sector, and oil and gas industries has consequently triggered the risk of cyber-attacks. Individuals, businesses, and the governments of countries across the Middle East and Africa region have fallen prey to numerous cybercrimes, including malware emails and software that hold victims' data to ransom. Thus, the primary reason behind the cybersecurity market's exponential growth rate is improved awareness, and the adoption of various cybersecurity services that are needed to safeguard smart grid devices, digitalized businesses, and IoT-based smart cities.
Segmentation based on solutions
Based on solutions, the identity and access management (IAM) segment are predicted to expand at the highest CAGR (14.5%) during the 2018-2023 period. Across the region, a number of companies are entering into partnerships and engaging in acquisitions to offer IAM solutions to different verticals. The governance, risk and compliance segment held the largest market share in 2017, and is predicted to dominate the market during the forecast period. The governments of countries in the region are passing laws and launching new security strategies to provide integrated protection to the countries' cyberspace. The strategies involve implementation of cyber smart nations, innovation, cybersecurity, cyber resilience, and national as well as international collaborations on cybersecurity.
Segmentation based on end-use industry
Based on end-use industry, the banking and financial services segment is predicted to expand at the highest CAGR during the forecast period and will reach a value of USD 8.17 Bn by 2023. This is because the banking sector faces almost three times more cyber-attacks than any other industry, and the rise of the Middle East and Africa as a hub for finance and banking has made it a major target for cyber-criminals. The segment held the largest market share in 2017 and is predicted to dominate the market during the 2018-2023 period.
Country-wise insights
Countries such as Saudi Arabia, United Arab Emirates (U.A.E.), and South Africa were the most prominent markets for cybersecurity in 2017. Spending on cybersecurity technology has increased considerably in these countries, owing to a recent spurt in the number of complex cyber-attacks. Saudi Arabia is increasingly focusing on strengthening its cybersecurity capabilities, by legislating and enforcing cyberspace security by government agencies, especially for critical national infrastructure. The country is projected to witness high investments to strengthen its cybersecurity framework.
Companies covered
- Symantec Corporation
- Check Point Software Technologies Ltd.
- Palo Alto Networks, Inc.
- Fortinet, Inc.
- FireEye, Inc.
- Trend Micro Inc.
- Proofpoint, Inc.
- KPMG
- IBM Corp.
Key Topics Covered
Chapter 1. Executive summary
1.1. Market scope and segmentation
1.2. Key questions answered
1.3. Market Definition
1.4. Executive summary
Chapter 2. The Middle East and Africa cybersecurity market - overview
2.1. The Middle East and Africa cybersecurity market overview - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), and market attractiveness analysis
2.2. Drivers
2.3. Trends
2.4. Challenges
2.5. Value chain analysis
2.6. Porter's five forces analysis
Chapter 3. The Middle East and Africa cybersecurity market - segmentation based on solutions
3.1. Identity and access management (IAM) - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), market observations, and influencing factors
3.2. Encryption - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), market observations, and influencing factors
3.3. Governance, risk, and compliance - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), market observations, and influencing factors
3.4. Unified threat management (UTM) - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), market observations, and influencing factors
3.5. Security information and event management (SIEM) - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), market observations, and influencing factors
Chapter 4. The Middle East and Africa cybersecurity market - segmentation based on end-use industry
4.1. Banking and financial services - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), market observations, and influencing factors
4.2. Government - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), market observations, and influencing factors
4.3. Telecommunication - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), market observations, and influencing factors
4.4. Manufacturing - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), market observations, and influencing factors
4.5. Healthcare - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), market observations, and influencing factors
4.6. Others - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), market observations, and influencing factors
Chapter 5. The Middle East and Africa cybersecurity market - segmentation based on country
5.1. Saudi Arabia - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), market observations, and influencing factors
5.2. The United Arab Emirates - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), market observations, and influencing factors
5.3. Others - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), market observations, and influencing factors
Chapter 6. Competitive landscape
6.1. Symantec Corporation
6.1.a. Company snapshot
6.1.b. Products and services
6.1.c. Recent initiatives
6.1.d. Geographical presence
Note: Similar information areas will be covered for the remaining competitors:
6.2. Check Point Software Technologies Ltd.
6.3. Palo Alto Networks, Inc.
6.4. Fortinet, Inc.
6.5. FireEye, Inc.
6.6. Trend Micro Inc.
6.7. Proofpoint, Inc.
6.8. IBM Corp.
6.9. KPMG
Chapter 7 Conclusion
7.1. Future outlook
For more information about this report visit https://www.researchandmarkets.com/r/ttl0xv
View source version on businesswire.com: https://www.businesswire.com/news/home/20190426005334/en/
https://finance.yahoo.com/news/middle-east-africa-cybersecurity-market-134900281.html
2019-04-26 13:49:00Z
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