Market Overview

Middle East & Africa Cybersecurity Market 2018-2023: A $13.78 Billion Opportunity by 2023, Driven by Increasing Internet Penetration - ResearchAndMarkets.com

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The "Middle
East and Africa Cybersecurity Market (2018-2023)"
report has
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The Middle East and Africa cybersecurity market is anticipated to grow
at an overall compound annual growth rate (CAGR) of 11.7% and will be
worth USD13.78 billion by 2023. With increased internet penetration,
cyberattacks are becoming more powerful, allowing hackers greater access
to new technology. One such example is the production a malware called
'Flame'.

Geographically, the Middle East and Africa generated 5.8% of the revenue
in 2016. Also, this region witnessed a number of partnership agreements
between key players during the period of 2014 to 2017, hence driving the
cybersecurity market.

By countries, the Middle East and Africa (MEA) cybersecurity market is
classified into UAE, Saudi Arabia, and other cybersecurity markets.
Saudi Arabia is expected to hold the largest market share. UAE is one
the fastest growing economies in the MEA region. The United Arab
Emirates is the first nation in the Middle East region to implement
modern national identity management infrastructure with biometric, smart
cards and PKI, hence creating digital identities for the citizens of the
country.

By industries, the Middle East and Africa cybersecurity market is
categorized into financial services, telecommunication, healthcare,
public sector, and others. The healthcare sector is expected to grow
fast Governments are making massive investments to improve healthcare
infrastructure. Hospitals moving towards the digitized model in their
business infrastructure are expected to increase the demand for
cybersecurity solutions to protect patient data and information
regarding medicine. The government sector is expected to hold most
significant market share because the industry faces massive cyberattacks.

Key Growth Factors

  • The Middle East is moving towards the adoption of digital
    technologies, increased internet penetration, use of IoT and cloud,
    and these are the factors contributing to the growth of the
    cybersecurity market.
  • The government bodies in this region are also in the process of
    adopting cybersecurity. The UAE government had set up E-security
    centers to allow exchange of information among UAE countries.

Threats and Key Players

  • The lack of technical expertise, especially in the Middle East region
    has restrained the market from growing.
  • The region is trying to implement cybersecurity strategies across the
    domain, but effective monitoring has been elusive.
  • The key players in this market are Fortinet, FireEye, Trend Micro, IBM
    Corporation, and Palo Alto.

Key Topics Covered

Chapter 1: Executive Summary

Chapter 2: Middle East and Africa Cybersecurity Market

Chapter 3: Middle East and Africa Cybersecurity Market - by Industries

Chapter 4: Middle East and Africa Cybersecurity Market - by Solution

Chapter 5: Middle East and Africa Cybersecurity Market - by Countries

Chapter 6: Company Profiles

  • Fortinet
  • FireEye
  • Paloalto
  • Trend Micro
  • IBM Corporation

Chapter 7: Conclusion

For more information about this report visit https://www.researchandmarkets.com/research/6nlxrr/middle_east_and?w=4

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