GCC Cyber Security Market Worth Over $7.1 Bn In 2018

Wednesday 23 May 2018, Amsterdam

This new report, now available on ASDReports, the Global GCC Cyber Security Market Forecast 2018-2028: Forecasts and Analysis by Solutions (Network Security, Endpoint Security, Content Security, Application Security, Industrial Control System Security), Services (Cyber Security Consulting, Cyber Security Risk Assessment Services, Cyber Security Design and Integration Services), Application (BFSI, Aerospace and Defence, Healthcare, Manufacturing, Others) and Country (UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman), with Profiles of Leading Companies indicates that the GCC Cyber Security market will see $7.1bn in spending in 2018.

The lead analyst of the report said “The Gulf region contains a significant share of the world’s energy resources and there has been an increased usage of personal internet and smart devices for banking applications over the past few years, which has made the banks vulnerable to phishing and DDOS attacks. These are a few of the factors that have made GCC region more vulnerable to cyberattacks.

A major cyber security trend right now is an increase of mainstream awareness among organizations of all sizes when it comes to protecting their information. The rise of ransomware and very public hacks into small businesses, non-profit organisations, and even government agencies have brought these issues to the forefront for everyone. Because of this, organisations are witnessing a general increased level of investment by every company trying to protect their sensitive data.

Cyber security has become an emerging concern for the organizations in the Gulf region. With increased usage of smart phones and social media, companies need to be prudent regarding their online safety policies.”