Middle East & Africa Cybersecurity Market Analysis – 2019-2027
Cybersecurity comprises of a set of tools, technologies and various risk management approaches along with training for the protection of the data from unauthorized access. It is a term used to refer to a set of techniques or practices which ensure the protection of integrity, confidentiality and availability (ICA) of information at an organization. The market for Cybersecurity in the Middle East & Africa is anticipated to witness a significant CAGR of 14.96% over the forecast period, i.e., 2019-2027. The market is estimated to attain a substantial market value of USD 48.93 billion during this period.
On the basis of component, the market is segmented into solutions and services, out of which, the segment for solutions is predicted to hold a higher share in the market on account of increasing cyber attacks such as malware, ransomware, DDoS attack, APTs, Domain Name System(DNS) injections and trojan, backdoor attack and target infected devices. On the basis of connectivity, the market is segmented into IoT devices, PCs, mobile/network, connected TV, wearables and connected car, out of which, the segment for PCs held a share of 55.7% in 2018 and is further anticipated to continue to hold the leading share in the market in coming years.
On the basis of region, the market is segmented into Middle East and Africa, out of which the cybersecurity market in Middle East is predicted to contain the larger share than the market in Africa. This can be attributed to the rising technical advancements in the region. Further, based on countries, the markets in Israel and Saudi Arabia are predicted to hold leading shares in the market in the Middle East.
Some of the key industry leaders in the Middle East & Africa cybersecurity market are IBM Corporation, Microsoft Corporation, Intel Corporation, Thomas Bravo, NortanLifeLock, Palo Alto Networks and Avast.