Middle East and Africa Cyber Security Market is Expected to Reach a Value of 14.47 billion by 2020

The report “Middle East and Africa Cyber Security Market - Analysis and Forecast to 2019”, defines and segments of the Middle East and Africa Cyber Security Market and forecasts the market size, by value and volume. the Middle East & Africa Cyber Security market size is estimated to grow from USD 7.70 billion in 2015 to USD 14.47 billion by 2020, at an estimated CAGR of 13.4% from 2015 to 2020.

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Cyber security products are defined by possessing the capability to provide access management, authentication procedures, detection and responses to incidents, security updates or patch management, data recovery, mitigation of impacts, and risk & compliance management.The cyber security market is experiencing a booming phase because of the need for global cyber security capacity establishment built for a secure and resilient cyberspace. The report aims at estimating the market size and future growth potential of Middle East & Africa Cyber Security market across different segments such as solution, service, vertical and country. The base year considered for the study is 2014 and the market size is forecasted from 2015 to 2020.

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The growing number of mobile workforce, adoption of cloud-based services, and Advanced Persistent Threats (APTs) present a comprehensive opportunity for cyber vendors in the market space. The MEA comprises economies such as Israel, United Arab Emirates, Egypt, Libya, and so on. These are countries where government regulations are very stringent regarding Internet, media, publications, surveillance, and monitoring.

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The main revenue source of the MEA is oil and gas. After the major cyber-attack on oil giant, Saudi Aramco in 2012 leaving tens of thousands of infected PCs, the number of government initiatives as well as investments from countries such as Saudi Arabia, UAE for avoiding future data breaches resulting has significantly increased.This has resulted in continual expansion of opportunities for cyber security vendors across the region. It is expected that the cyber market in Middle East & Africa countries will show enormous growth with credence in the coming years.

Major Players in Middle East and Africa Cyber Security Market are -

Considering the impact of cyber threats on national and public safety along with state economy, countries such as Africa and Saudi Arabia are investing more on protecting the national infrastructure and resources by deploying cyber security solutions. The increased cyber attacks specifically on the Middle East region have forced the operators to safeguard their networks and to deploy comprehensive security solutions.The report also covers the total cyber security marekt by geographic regions. South Africa followed closely by UAE is expected to have the largest market share, however Iran will grow with the highest CAGR from 2015 to 2020.