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Middle East and Africa Cybersecurity Market: By Solution: Threat Intelligence and Response Management, Identity and Access Management, Others; By Service; By Deployment; By End Use; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments
Middle East and Africa Cybersecurity Market Outlook
The Middle East and Africa cybersecurity market stood at a value of around USD 1.98 billion in 2021. The market is further expected to grow at a CAGR of 7.90% in the forecast period of 2022-2027 to attain a value of USD 3.12 billion by 2027.
Heightened Deployment of Cybersecurity Solutions in the BFSI Sector to Aid the Middle East and Africa Cybersecurity Industry Growth
Based on end use, the BFSI segment is predicted to hold a significant market share of the cybersecurity industry in the Middle East and Africa. The market growth can be attributed to the increased demand for cybersecurity measures in the BFSI sector, owing to the growing adoption of digital banking facilities in the region. Consumers are increasingly availing online banking facilities while the banks are utilising cloud based solutions to store enormous financial data.
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This, in turn, has enhanced the demand for advanced cybersecurity solutions to protect sensitive consumer data from breaches, intrusions, and other threats. These factors are predicted to aid the industry growth in the Middle East and Africa.
Saudi Arabia to Account for a Significant Market Share in the Middle East and Africa Cybersecurity Industry
Saudi Arabia is estimated to hold a substantial share of the Middle East and Africa cybersecurity industry in the forecast period. This can be attributed to the presence of the leading market players in the region. In addition, the heightened investments to support technological advancements and the development of network security solutions in the region are also contributing to the market growth. For instance, in Saudi Arabia, more than seven million cyberattacks were stopped in the first three months of 2021. In 2020, Saudi Arabia witnessed 22.5 million brute force cyberattacks. The number of these attacks has risen by 104% over the past year, hence, augmenting the demand for cybersecurity. Additionally, the growing digitalisation is expected to further augment the market growth in the region.
Cybersecurity: Market Segmentation
Cybersecurity involves various processes of safeguarding critical data stored digitally on electronic devices from any cyberattack. The cybersecurity solutions help mitigate the risk of data leaks and reduce any outside threat. In recent years, cybersecurity has become increasingly important, given the rising cyberattacks and security threats aimed at stealing, modifying, or destroying essential and confidential data.
By solution, the market is segregated into:
- Threat Intelligence and Response Management
- Identity and Access Management
- Data Loss Prevention Management
- Security and Vulnerability Management
- Unified Threat Management
- Enterprise Risk and Compliance
On the basis of service, the market can be segmented into:
- Managed Services
- Professional Services
Based on deployment, the industry can be distributed into:
- Cloud
- On-premise
Based on end use, the market can be categorised into:
- Aerospace and Defence
- BFSI
- Healthcare
- Manufacturing
- Retail
- Government
- IT and Telecommunication
- Others
The regional markets for the product include Saudi Arabia, the United Arab Emirates, Israel, Nigeria, South Africa, and others.
Rapid Digitalisation and the Growing Concerns Regarding Cyberattacks to Augment the Middle East and Africa Cybersecurity Industry
The increased digitalisation across industry verticals is predicted to propel the demand for cybersecurity across organisations. In addition, the growing technological dependence and the increased smartphone penetration are further expected to add to the overall market growth in the Middle East and Africa region. Moreover, the rising incidences of cyberattacks in various organisations across the region is a major factor driving the market growth. For instance, in 2020, the UAE witnessed a 250% increase in the number of cyberattacks and cybercrimes during the COVID-19 pandemic. Furthermore, growing investments by enterprises across the region in the R&D of effective cybersecurity solutions are also expected to aid the industry growth significantly. These factors are estimated to positively impact the market growth in the forecast period.
Key Industry Players in the Middle East and Africa Cybersecurity Market
The report gives a detailed analysis of the following key players in the Middle East and Africa cybersecurity market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Cisco Systems Inc.
- Dell Inc.
- IBM Corporation
- Broadcom Inc.
- CIPHER, LLC
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2021 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Solution, Service, Deployment, End Use, Region |
| Breakup by Solution | Threat Intelligence and Response Management, Identity and Access Management, Data Loss Prevention Management, Security and Vulnerability Management, Unified Threat Management, Enterprise Risk and Compliance |
| Breakup by Service | Managed Services, Professional Services |
| Breakup by Deployment | Cloud, On-premise |
| Breakup by End Use | Aerospace and Defence, BFSI, Healthcare, Manufacturing, Retail, Government, IT and Telecommunication, Others |
| Breakup by Region | Saudi Arabia, United Arab Emirates, Israel, Nigeria, South Africa, Others |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Cisco Systems Inc., Dell Inc., IBM Corporation, Broadcom Inc., CIPHER, LLC, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Middle East and Africa
7 Industry Opportunities and Challenges
8 Middle East and Africa Cybersecurity Market Analysis
8.1 Key Industry Highlights
8.2 Middle East and Africa Cybersecurity Historical Market (2017-2021)
8.3 Middle East and Africa Cybersecurity Market Forecast (2022-2027)
8.4 Middle East and Africa Cybersecurity Market by Solution
8.4.1 Threat Intelligence and Response Management
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Identity and Access Management
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 Data Loss Prevention Management
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.4.4 Security and Vulnerability Management
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2017-2021)
8.4.4.3 Forecast Trend (2022-2027)
8.4.5 Unified Threat Management
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2017-2021)
8.4.5.3 Forecast Trend (2022-2027)
8.4.6 Enterprise Risk and Compliance
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2017-2021)
8.4.6.3 Forecast Trend (2022-2027)
8.5 Middle East and Africa Cybersecurity Market by Service
8.5.1 Managed Services
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Professional Services
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.6 Middle East and Africa Cybersecurity Market by Deployment
8.6.1 Cloud
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 On-premise
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.7 Middle East and Africa Cybersecurity Market by End Use
8.7.1 Aerospace and Defence
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2017-2021)
8.7.1.3 Forecast Trend (2022-2027)
8.7.2 BFSI
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2017-2021)
8.7.2.3 Forecast Trend (2022-2027)
8.7.3 Healthcare
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2017-2021)
8.7.3.3 Forecast Trend (2022-2027)
8.7.4 Manufacturing
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2017-2021)
8.7.4.3 Forecast Trend (2022-2027)
8.7.5 Retail
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2017-2021)
8.7.5.3 Forecast Trend (2022-2027)
8.7.6 Government
8.7.6.1 Market Share
8.7.6.2 Historical Trend (2017-2021)
8.7.6.3 Forecast Trend (2022-2027)
8.7.7 IT and Telecommunication
8.7.7.1 Market Share
8.7.7.2 Historical Trend (2017-2021)
8.7.7.3 Forecast Trend (2022-2027)
8.7.8 Others
8.8 Middle East and Africa Cybersecurity Market by Region
8.8.1 Market Share
8.8.1.1 Saudi Arabia
8.8.1.2 United Arab Emirates
8.8.1.3 Israel
8.8.1.4 Nigeria
8.8.1.5 South Africa
8.8.1.6 Others
9 Regional Analysis
9.1 Saudi Arabia
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.2 United Arab Emirates
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.3 Israel
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.4 Nigeria
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.5 South Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Cisco Systems Inc.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Dell Inc.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 IBM Corporation
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Broadcom Inc.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 CIPHER, LLC
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Middle East and Africa Cybersecurity Market: Key Industry Highlights, 2017 and 2027
2. Middle East and Africa Cybersecurity Historical Market: Breakup by Solution (USD Billion), 2017-2021
3. Middle East and Africa Cybersecurity Market Forecast: Breakup by Solution (USD Billion), 2022-2027
4. Middle East and Africa Cybersecurity Historical Market: Breakup by Services (USD Billion), 2017-2021
5. Middle East and Africa Cybersecurity Market Forecast: Breakup by Services (USD Billion), 2022-2027
6. Middle East and Africa Cybersecurity Historical Market: Breakup by Deployment (USD Billion), 2017-2021
7. Middle East and Africa Cybersecurity Market Forecast: Breakup by Deployment (USD Billion), 2022-2027
8. Middle East and Africa Cybersecurity Historical Market: Breakup by End Use (USD Billion), 2017-2021
9. Middle East and Africa Cybersecurity Market Forecast: Breakup by End Use (USD Billion), 2022-2027
10. Middle East and Africa Cybersecurity Historical Market: Breakup by Region (USD Billion), 2017-2021
11. Middle East and Africa Cybersecurity Market Forecast: Breakup by Region (USD Billion), 2022-2027
12. North America Microspheres Historical Market: Breakup by Country (USD Billion), 2017-2021
13. North America Microspheres Market Forecast: Breakup by Country (USD Billion), 2022-2027
14. Europe Microspheres Historical Market: Breakup by Country (USD Billion), 2017-2021
15. Europe Microspheres Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Asia Pacific Microspheres Historical Market: Breakup by Country (USD Billion), 2017-2021
17. Asia Pacific Microspheres Market Forecast: Breakup by Country (USD Billion), 2022-2027
18. Latin America Microspheres Historical Market: Breakup by Country (USD Billion), 2017-2021
19. Latin America Microspheres Market Forecast: Breakup by Country (USD Billion), 2022-2027
20. Middle East and Africa Microspheres Historical Market: Breakup by Country (USD Billion), 2017-2021
21. Middle East and Africa Microspheres Market Forecast: Breakup by Country (USD Billion), 2022-2027
22. Middle East and Africa Cybersecurity Market Structure
Key Questions Answered in the Report
In 2021, the Middle East and Africa cybersecurity market attained a value of nearly USD 1.98 billion.
The market is projected to grow at a CAGR of 7.90% between 2022 and 2027.
The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach USD 3.12 billion by 2027.
The major drivers of the industry, such as the increased demand for cybersecurity across different industries, supportive government investments and initiatives, rising number of security attacks in the region, and the increasing investments in the R&D of cybersecurity systems by the leading manufacturers, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the rising digitalisation and the increased penetration of smartphones in the region.
The major regions in the industry are Saudi Arabia, the United Arab Emirates, Israel, Nigeria, South Africa, and others.
The significant solutions include threat intelligence and response management, identity and access management, data loss prevention management, security and vulnerability management, unified threat management, and enterprise risk and compliance.
The significant services include managed services and professional services.
The major modes of deployment include cloud and on-premise.
The significant end uses include aerospace and defence, BFSI, healthcare, manufacturing, retail, government, IT and telecommunication, and others.
The major players in the industry are Cisco Systems Inc., Dell Inc., IBM Corporation, Broadcom Inc., CIPHER, LLC, and others.
Analyst Review
The Middle East and Africa cybersecurity market attained a value of around USD 1.98 billion in 2021, driven by the increased digitalisation. Aided by the rising demand for improved cybersecurity solutions across various industries, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 7.90%. The market is projected to reach USD 3.12 billion by 2027.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By solutions, the market can be distributed into threat intelligence and response management, identity and access management, data loss prevention management, security and vulnerability management, unified threat management and enterprise risk and compliance. On the basis of services, the industry can be segmented into managed services and professional services. Based on deployment, the market can be categorised into cloud and on-premise. On the basis of end use, the industry can be segregated into aerospace and defence, BFSI, healthcare, manufacturing, retail, government, IT and telecommunication, and others. The major regional markets for cybersecurity are Saudi Arabia, the United Arab Emirates, Israel, Nigeria, South Africa, and others. The key players in the above market include Cisco Systems Inc., Dell Inc., IBM Corporation, Broadcom Inc., CIPHER, LLC, and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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