According to MarkNtel Advisors study the Middle East Cyber Security Market size is valued at USD14.6 billion in 2023 & is predicted to reach USD 29.7 billion by 2030.

Key Findings of the Study: Middle East Cyber Security market

The Middle East Cyber Security Market Driver:  

Rapidly Expanding E-commerce Sector Facilitating Cyber Security Demand – The Middle Eastern countries have high share of young population, which is driving the demand for online shopping, and other digital services. The countries have high internet & smartphone penetration rates due to the growing middle class population, which is increasing the overall e-commerce sector in the country, driven by increasing access to online marketplaces across the region. For instance:

• In 2023, according to the Communications, Space, and Technology Commission (CST), the internet penetration rates in Saudi Arabia & the UAE were nearly 100%.

Furthermore, with the increasing e-commerce activities the threat of cyber attacks is increasing rapidly. Organizations are well aware about the privacy of consumer data, which is why they are adopting measures to mitigate cyber attacks driving the demand for cyber security solutions. Thus, the growing investments of organizations to safeguard the consumer data is leading them to invest in cyber security solutions across the region, which is propelling the growth of the Middle East Cyber Security Market.

The Middle East Cyber Security Market Challenge:

Unavailability of Skilled Professionals to Manage Cyber Security Solutions –  The increasing number of cyber security issues and threat cases across the region are leading to the surging demand for technologically advanced cyber security solutions, including software as well as hardware components. The integration of various technically advanced algorithms and regular maintenance and bug detection requires skilled professionals to efficiently manage these issues. However, the lack of skilled individuals in the region poses a significant drawback in the overall regional market growth.

The limited education programs and training particularly designed for IT technicians in Middle Eastern countries is a significant restraining factor in the market. With limited access to education, individuals are not skilled enough to handle complex processes. Moreover, the stringent competition and better pay scales for cybersecurity technicians in another barrier to the Cybersecurity Market of the Middle East.

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Scope of the Report and Middle East Cyber Security Market Segmentation:

By Component

• Solutions
  • Identity & Access Management- Market Size & Forecast 2019-2030 (USD Million)
  • Risk & Compliance- Market Size & Forecast 2019-2030 (USD Million)
  • Encryption- Market Size & Forecast 2019-2030 (USD Million)
  • Data Loss Prevention- Market Size & Forecast 2019-2030 (USD Million)
  • Unified Threat Management- Market Size & Forecast 2019-2030 (USD Million)
  • Firewall- Market Size & Forecast 2019-2030 (USD Million)
  • Anti- Viruses- Market Size & Forecast 2019-2030 (USD Million) - Market Size & Forecast 2019-2030 (USD Million)
  • Intrusion Detection System/Intrusion Prevention System- Market Size & Forecast 2019-2030 (USD Million)
  • Security & Vulnerability Management- Market Size & Forecast 2019-2030 (USD Million)
  • Disaster Recovery- Market Size & Forecast 2019-2030 (USD Million)
  • Distributed Denial of Service Mitigation- Market Size & Forecast 2019-2030 (USD Million)
  • Web Filtering- Market Size & Forecast 2019-2030 (USD Million)
  • Others- Market Size & Forecast 2019-2030 (USD Million)
• Services
  • Professional Services- Market Size & Forecast 2019-2030 (USD Million)
    • Design & Development- Market Size & Forecast 2019-2030 (USD Million)
    • Integration- Market Size & Forecast 2019-2030 (USD Million)
    • Risk & Threat Assessment- Market Size & Forecast 2019-2030 (USD Million)
    • Consulting- Market Size & Forecast 2019-2030 (USD Million)
    • Training & Education- Market Size & Forecast 2019-2030 (USD Million)
    • Maintenance & Upgrades- Market Size & Forecast 2019-2030 (USD Million)
  • Managed Services- Market Size & Forecast 2019-2030 (USD Million)

By Security Type

• Network Security- Market Size & Forecast 2019-2030 (USD Million)
• End Point Security- Market Size & Forecast 2019-2030 (USD Million)
• App Security- Market Size & Forecast 2019-2030 (USD Million)
• Cloud Security- Market Size & Forecast 2019-2030 (USD Million)
• Content Security- Market Size & Forecast 2019-2030 (USD Million)
• Industrial Control System Security- Market Size & Forecast 2019-2030 (USD Million)

By Deployment

• Cloud- Market Size & Forecast 2019-2030 (USD Million)
• On-Premise- Market Size & Forecast 2019-2030 (USD Million)
• Hybrid- Market Size & Forecast 2019-2030 (USD Million)

Cloud deployment is anticipated to dominate the market with the largest share during the forecast period. 

By End Users

• Oil & Gas- Market Size & Forecast 2019-2030 (USD Million)
• BFSI- Market Size & Forecast 2019-2030 (USD Million)
• Healthcare- Market Size & Forecast 2019-2030 (USD Million)
• Utilities- Market Size & Forecast 2019-2030 (USD Million)
• IT & Telecom- Market Size & Forecast 2019-2030 (USD Million)
• Others- Market Size & Forecast 2019-2030 (USD Million)

By Enterprise Size

• Large- Market Size & Forecast 2019-2030 (USD Million)
• Mid-size- Market Size & Forecast 2019-2030 (USD Million)
• Small- Market Size & Forecast 2019-2030 (USD Million)

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Middle East Cyber Security Market Competitive Landscape

• IBM
• Cisco
• Optiv Security Inc.
• Huawei
• Fortinet
• Palo Alto Networks
• Check Point Software Technologies
• Trend Micro
• Sophos
• Kaspersky
• Mcafee
• Forcepoint
• Dts Solution
• Ras Infotech
• Codegreen Systems

Middle East Cyber Security Market Development:

• 2024: Cisco announced to launch new local cloud data centre in the UAE for its Duo multifactor authentication (MFA) and secure access solution to support cybersecurity readiness.
• 2023: Sophos launched its its advanced cybersecurity solutions and services including Sophos Managed Detection and Response (MDR) at GITEX Global 2023 held at Dubai, the UAE.

Geographical Analysis:

By Countries

• The UAE
• Saudi Arabia
• Qatar
• Turkey
• Israel
• Kuwait
• Bahrain
• Oman
• Egypt
• Rest of the Middle East

The UAE is anticipated to dominate the market with the largest share during the forecast period. 

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