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Middle East cyber security market that is expected to be worth USD 9.56 billion by 2019 illuminated by new report

Middle East Cyber Security market is estimated to be $5.17 billion in 2014 and is expected to grow to USD 9.56 billion in 2019. This represents an estimated Compound Annual Growth Rate (CAGR) of 13.07% till 2019.

The report on Middle East cyber security market majorly focuses on estimation of the current market size and future growth potential across all major segments of this market, i.e., types, solutions, services, verticals, and countries in the Middle East region. Furthermore, the report also provides an extensive analysis of the key players in the cyber security space with their profiles, strategy and developments, major market drivers, restraints, opportunities, challenges, adoption trends, and key issues in the Middle East cyber security market.

The protection of valuable intellectual property, and business information in digital form, against theft and misuse, is a critical need for all businesses. The Middle Eastern Countries have identified cyber security, as one of the major concern. 

Over the past few years, most of the large organizations in this region including giant oil and gas, utilities and banks have strengthened their cyber security capabilities. Standard processes have been implemented to identify and prioritize IT security risks and develop mitigation strategies.

These mitigation strategies have enabled the organizations to save losses caused by cybercrimes.

Most of the firms are primarily focusing on building “defence in depth” approach to address known as well as emerging threats. To develop this defence in depth approach involves collaboration between enterprises and large vendors reinforcing the development of new innovative products and solutions.

The growing number of security compliances enforced by the government along with the increase in risks such as advanced malwares is the main reason that has increased the demand for cyber security in the Middle East region. The rapidly evolving nature of threats, presents the opportunity of continuous research and development of cyber security products and services.

Apart from these, factors such as need for unified cyber solutions, strict compliance and data disclosure mandates, risk over maintenance of sensitive data, enhanced enterprise mobility, and increasing spending pattern on security forums are boosting up the demand for cyber security solutions in the Middle East. It is expected that the Middle East cyber security market will show enormous growth with credence in the coming years.

Major players in the cyber security ecosystem include Booz Allen Hamilton, Cisco, CSC, Cassidian, IBM, Kaspersky, McAfee, Symantec, Trend Micro and various others.

The report on Middle East cyber security market majorly focuses on estimation of the current market size and future growth potential across all major segments of this market, i.e., types, solutions, services, verticals, and countries in the Middle East region. Furthermore, the report also provides an extensive analysis of the key players in the cyber security space with their profiles, strategy and developments, major market drivers, restraints, opportunities, challenges, adoption trends, and key issues in the Middle East cyber security market.

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