Cybersecurity in the Middle East: Key Drivers and Future Trends Shaping the Mark

1. Cybersecurity in the Middle East: Key Drivers and Future Trends Shaping the Market According to a research report "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" published by MarketsandMarkets, The size of the Middle East cybersecurity market is expected to increase at a Compound Annual Growth Rate (CAGR) of 10.2% over the course of the forecast period, from USD 14.8 billion in 2023 to USD 24.1 billion by 2028. The surge in digital transformation projects is fueling the Middle East cybersecurity market expansion and pushing wider usage of cloud technologies. This rise is further supported by regulatory initiatives aimed at countering the dynamic threat landscape, which highlights the crucial role of cybersecurity. Another significant factor influencing the cybersecurity market dynamics in the region is the Kingdom of Saudi Arabia's Vision 2030. The KSA propels developments in digital security as it lays out a holistic vision. Simultaneously, the Middle East experiences a thriving startup ecosystem that influences cybersecurity solutions in a complex way. This confluence of factors positions the region at the forefront of cybersecurity innovation and resilience. Based on the offering, the services segment will grow at the highest CAGR during the forecasted period. The Middle East cybersecurity market's services segment has shown exponential expansion due to the diverse challenges presented by constantly emerging cyber threats. The demand for cybersecurity services and solutions has increased as a result of the region's notable increase in cyber threats and attacks. The necessity for strong cybersecurity measures has increased due to the growing eCommerce and digital payment solutions landscape, which has also led to the emergence of businesses that specialize in digital asset protection. Comprehensive cybersecurity services are now required due to the region's strict legislation and compliance standards, which guarantee adherence and strong data protection policies. Simultaneously, the ongoing initiatives aimed at digital transformation are driving up demand for cybersecurity services that are necessary to protect infrastructure and digital assets. Furthermore, the blooming services industry is established by the considerable contribution of the rising need for cyber-insurance. For Game changing business Opportunities DOWNLOAD PDF By deployment mode, on-premises accounts for the highest market size during the forecast period. The Middle East cybersecurity market is dominated by the on-premises segment due to a number of factors, including the critical priority given to data privacy issues. Data sovereignty and control over sensitive information are given top priority by organizations, especially by government agencies and operators of key infrastructure. Cloud-based solutions' potential to expose data to other governments is allayed by the increased control over data processing and storage that on-premises solutions provide. Furthermore, the region's regulatory compliance may discourage or ban the storage of specific types of data in the cloud, underscoring the importance of on-premises solutions in guaranteeing regulatory compliance.

2. The role of security concerns is crucial as well. On-premises solutions offer customisation, control over security policies, and offline capabilities to guarantee that operations continue even in the event of internet failures. The dominance of the on-premises category can be attributed to financial issues, such as the preference for fixed expenditures over recurring subscription fees and the restricted availability of cloud infrastructure in certain Middle Eastern locations. Furthermore, the on-premises market's dominance in the area is further strengthened by the investments and infrastructure already in place, such as legacy systems and internal management skills for on-premises security solutions. By region, Israel is to grow at the highest CAGR during the forecast period. Due to a number of variables that put Israel in a unique position for rapid expansion, the Middle East cybersecurity market is growing at an unprecedented rate in Israel. Israel's dynamic startup ecosystem, which has a strong technological base, plays a critical role in promoting innovative cybersecurity technologies. The robust military and intelligence industries make a substantial contribution, making large investments in cybersecurity research and development and developing a reservoir of highly qualified personnel. Israel places a strong focus on STEM education, which guarantees a workforce with a high level of knowledge and builds a strong talent pool for the cybersecurity sector. Israel has gained significant experience in thwarting intricate cyberattacks, which has led to the development of workable market solutions. Not only is cybersecurity a commercial issue, but it is also a key component of national security, receiving substantial funding and assistance from the government. Additionally, Israeli businesses are positioned as major participants in the region due to the market-specific benefits of their adaptability, cultural proximity to several Middle Eastern countries, and niche expertise. Israel's cybersecurity industry continues to thrive thanks to foreign investment and regional cooperation, confirming its position as the Middle East's fastest-growing player. Key Players 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), 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), Eviden (France), sirar (KSA), Gulf Business Machines (UAE), SITE (KSA), SAMI-AEC (KSA), Taqnia Cyber (KSA) are the key players and other players in the middle east cybersecurity market. About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

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