PUNE, India, August 10, 2018 /PRNewswire/ --
According to a new market research
report "MEA Cybersecurity Market by Solution (IAM,
Encryption, DLP, UTM, Antivirus/Antimalware, Firewall, IDS/IPS,
Disaster Recovery), Service (Professional and Managed), Security
Type, Deployment Mode, Organization Size, Vertical, and Country -
Forecast to 2023" published by MarketsandMarkets™, the
MEA Cybersecurity Market size is expected to grow from USD 15.66 billion in 2018 to USD 31.82 billion by 2023, at a Compound Annual
Growth Rate (CAGR) of 15.2% during the forecast period.
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Browse 192 market data Tables and 55
Figures spread through 273 Pages and in-depth TOC on "MEA
Cybersecurity Market"
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report.
Cyber security solutions and services help enterprises protect
their endpoints, networks, applications, and cloud environments
from advanced threats, such as malwares, ransomwares, Distributed
Denial of Service (DDoS) attacks, and Advanced Persistent Threats
(APTs). The increasing demand among Small and Medium-sized
Enterprises (SMEs) operating across industry verticals and regions
would drive the market growth during the forecast period.
Application security segment to grow at the highest CAGR
during the forecast period
The application security segment is expected to grow at the
highest CAGR during the forecast period. The proliferation of
mobile devices, Bring Your Own Device (BYOD) trend, and
workstations has significantly increased the use of application
security solutions across enterprises. Increasing attacks on
enterprise applications in major industry verticals, such as energy
and utilities, Banking, Financial Services, and Insurance (BFSI),
and IT and telecom, would drive the demand for application security
solutions.
The network security segment is expected to hold the highest
market share and continue to dominate the market during the
forecast period, due to the growing instances of advanced threats
on networks.
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Healthcare vertical to grow at the highest CAGR during the
forecast period
The healthcare industry vertical is expected to hold the highest
market share and grow at the highest CAGR during the forecast
period, due to the technological proliferation of healthcare
applications and increased instances of healthcare data thefts and
breaches. The adoption of cybersecurity solutions provides advanced
protection from threats, without affecting operational
efficiency.
Middle East to hold a larger
market size, whereas Africa to
grow at the highest CAGR during the forecast period
The Middle East is expected to
hold the largest market size and dominate the MEA Cybersecurity
Market from 2018 to 2023, due to the growing demand for
cybersecurity solutions across industry verticals, such as energy
and utilities, government and defense, IT and telecom, and
healthcare. Owing to the rising adoption of mobile devices and BYOD
trend, the cybersecurity solutions in the Middle East would gain traction during the
forecast period. The African cybersecurity market is projected to
witness substantial growth, as SMEs and large enterprises in the
region are rapidly adopting cybersecurity solutions to ensure the
security of their endpoints and mobile devices.
Major vendors in the MEA Cybersecurity Market include IBM
(US) , CA Technologies (US), Check Point (US), Cisco (US), CyberArk
(Israel), DarkMatter (UAE), DXC
Technology (US), F5 Networks (US), FireEye (US), Forcepoint (US),
Fortinet (US), Imperva (US), Kaspersky Lab (Russia), McAfee (US), Micro Focus (UK),
Microsoft (US), Oracle (US), Palo Alto Networks (US), Proofpoint
(US), Rapid7 (US), Sophos (UK), Splunk (US), Symantec (US), Trend
Micro (Japan), and Trustwave
(US).
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