Middle East And Africa Cybersecurity Market Is Projected To Exhibit Growth Rate 16.80% CAGR During 2024-2032

(MENAFN- IMARC Group) According to IMARC Group, the Middle East and Africa cybersecurity market size is projected to exhibit a growth rate (CAGR) of 16.80% during 2024-2032.

The report has segmented the market by Component (solutions, services), security type (network security, cloud application security, end-point security, application security, and others), deployment type (cloud-based, on-premises), organization size (large enterprises, small and medium-sized enterprises (SMES)), industry vertical (aerospace and defense, BFSI, it and ITES, healthcare, retail and e-commerce, manufacturing, energy and utilities, telecommunication, transportation and logistics, media and entertainment, and others), and country.

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Middle East and Africa Cybersecurity Market Growth:

The Middle East and Africa cybersecurity market is experiencing significant growth, primarily driven by the increasing awareness of cyber threats and the rising incidence of cybercrimes in the region. Moreover, the growing digital transformation in various sectors, such as banking, retail, government, etc., coupled with the elevating internet penetration and smartphone usage, is further augmenting the need for cybersecurity solutions.

Additionally, the government authorities and enterprises in the MEA region are extensively investing in securing their digital infrastructure to protect against data breaches, ransomware attacks, and other cyber threats, which is acting as another significant growth-inducing factor.

Middle East and Africa Cybersecurity Market Segmentation:

Breakup by Component Insights:

  • Solutions
    • Identity and Access Management (IAM)
    • Infrastructure Security
    • Governance, Risk and Compliance
    • Unified Vulnerability Management Service Offering
    • Data Security and Privacy Service Offering
    • Others
  • Services
    • Professional Services
    • Managed Services

Breakup by Security Type Insights:

  • Network Security
  • Cloud Application Security
  • End-point Security
  • Application Security
  • Others

Breakup by Deployment Type Insights:

  • Cloud-based
  • On-premises

Breakup by Organization Size Insights:

  • Large Enterprises
  • Small and Medium-sized Enterprises (SMEs)

Breakup by Industry Vertical Insights:

  • Aerospace and Defense
  • BFSI
  • IT and ITES
  • Healthcare
  • Retail and E-Commerce
  • Manufacturing
  • Energy and Utilities
  • Telecommunication
  • Transportation and Logistics
  • Media and Entertainment
  • Others

Breakup by Country Insights:

  • United Arab Emirates
  • Saudi Arabia
  • Egypt
  • South Africa
  • Qatar
  • Kuwait
  • Morocco
  • Others

Middle East and Africa Cybersecurity Market Trends:

Apart from this, the integration of advanced technologies like artificial intelligence (AI) and machine learning (ML) with cybersecurity solutions for threat detection and response is further propelling the growth of the Middle East and Africa cybersecurity market. Additionally, the rising trend of remote working, especially during and after the sudden outbreak of the COVID-19 pandemic, is also augmenting the demand for advanced cybersecurity solutions.

In line with this, the growing adoption of cloud-based services and the Internet of Things (IoT) is compelling businesses to prioritize cybersecurity to safeguard their operations and data integrity, which is acting as another significant growth-inducing factor. Moreover, partnerships and collaborations between regional government authorities and global cybersecurity firms to develop robust cybersecurity infrastructures are anticipated to drive the growth of the Middle East and Africa cybersecurity market in the coming years.

Other Key Points Covered in the Report:

  • COVID-19 Impact
  • Porters Five Forces Analysis
  • Value Chain Analysis
  • Strategic Recommendations

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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