The Qualitative research study accompanied by ORBIS RESEARCH titled on “Global Cybersecurity Market describing the Product / Business Scope, Overview and outlook from 2019 to 2023”. In this Research Report provides primary and secondary data for studies, the scope of the product and vendor briefings. The market Study is segmented by key regions which are accelerating the marketization and study is segmented by products type, status, size, trends, key players, market opportunities, application, challenges and forecast to 2023. Cybersecurity Market Major Key Players/ Manufacturer included in the Report some of them Symantec Corporation, Check Point Software Technologies Ltd., Palo Alto Networks, Inc., Fortinet, Inc., FireEye, Inc., Trend Micro Inc., Proofpoint, Inc., KPMG,IBM Corp, etc.
Sample Report + All Related Graphs & Charts @: https://www.orbisresearch.com/contacts/request-sample/3028318
The Middle East and Africa cybersecurity market is predicted to expand at a CAGR of 11.9%, and is expected to be valued at USD 23.4 Bn by 2023. Robust digitalization in verticals like banking and financial services, the government sector, and oil and gas industries has consequently triggered the risk of cyber-attacks. Individuals, businesses, and the governments of countries across the Middle East and Africa region have fallen prey to numerous cybercrimes, including malware emails and software that hold victims’ data to ransom. Thus, the primary reason behind the cybersecurity market’s exponential growth rate is improved awareness, and the adoption of various cybersecurity services that are needed to safeguard smart grid devices, digitalized businesses, and IoT-based smart cities.
Segmentation based on solutions:
Based on solutions, the identity and access management (IAM) segment is predicted to expand at the highest CAGR (14.5%) during the 2018-2023 period. Across the region, a number of companies are entering into partnerships and engaging in acquisitions to offer IAM solutions to different verticals. The governance, risk and compliance segment held the largest market share in 2017, and is predicted to dominate the market during the forecast period. The governments of countries in the region are passing laws and launching new security strategies to provide integrated protection to the countries’ cyberspace. The strategies involve implementation of cyber smart nations, innovation, cybersecurity, cyber resilience, and national as well as international collaborations on cybersecurity.
Segmentation based on end use industry:
Based on end use industry, the banking and financial services segment is predicted to expand at the highest CAGR during the forecast period, and will reach a value of USD 8.17 Bn by 2023. This is because the banking sector faces almost three times more cyberattacks than any other industry, and the rise of the Middle East and Africa as a hub for finance and banking has made it a major target for cyber criminals. The segment held the largest market share in 2017 and is predicted to dominate the market during the 2018-2023 period.
Countries such as Saudi Arabia, United Arab Emirates (U.A.E.), and South Africa were the most prominent markets for cybersecurity in 2017. Spending on cybersecurity technology has increased considerably in these countries, owing to a recent spurt in the number of complex cyberattacks. Saudi Arabia is increasingly focusing on strengthening its cybersecurity capabilities, by legislating and enforcing cyberspace security by government agencies, especially for critical national infrastructure. The country is projected to witness high investments to strengthen its cybersecurity framework.
Check Point Software Technologies Ltd.
Palo Alto Networks, Inc.
Trend Micro Inc.
Enquire before buy or customization in Report: https://www.orbisresearch.com/contacts/enquiry-before-buying/3028318
Thanks for reading this article; you can also get individual chapter wise section or region wise report versions like North America, Latin America, Europe, South America, Middle East and Africa, UK, China or Asia-Pacific.
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.
Senior Manager – Client Engagements
4144N Central Expressway,
Suite 600, Dallas,
Texas – 75204, U.S.A.
Phone No.: +1 (214) 884-6817; +912064101019
Email id: [email protected]