About cyber security
Cyber threats are internet-based attempts that disrupt or damage IT systems and hack critical information using spyware, malware, and phishing. Cyber security solutions help organizations detect, monitor, report, and counter cyber threats and maintain the confidentiality of IT systems. Increased internet penetration has led an exponential rise in sophisticated attacks on IT business infrastructure. Organizations are increasingly adopting cyber security solutions to protect critical data or any digital asset stored in a computer or any digital memory device. Cyber threats are becoming the major concern with the increase in usage of mobile devices and applications. MEA is undergoing significant economic and technological transformations, which has resulted in growth of business opportunities and improved IT infrastructure. However, the technological improvements and innovations are creating vulnerabilities and leading to increased cyber threats. The growing sophistication and penetration of cyberattacks has prompted organizations in the BFSI, government, telecom, and oil and gas sectors to adopt cyber security solutions to ensure security of critical information stored in computer systems or digital memory devices.
Technavio's analysts forecast the cyber security market in MEA region to grow at a CAGR of 14.63% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and growth prospects of the cyber security market in MEA for the period 2015-2019. To calculate the market size, the report considers the revenue generated from the sales of cyber security solutions in MEA. The report also includes market insights, market description, end-user segmentation, and market landscape of the market.In addition, it provides a detailed analysis of the cyber security market in the seven major countries in MEA:
Technavio Announces the Publication of its Research Report – Cyber Security Market in the MEA 2015-2019
Technavio recognizes the following companies as the key players in Cyber Security Market in the MEA 2015-2019: BAE Systems plc, Booz Allen Hamilton Inc., Cisco Systems Inc., Fortinet Inc., Juniper Networks Inc., Raytheon Co. and Symantec Corp.
Other Prominent Vendors in the market are: Brocade Communications Systems, CA Technologies, Check Point Software Technologies, Citrix Systems, CSC, Emc², FireEye, IBM, Northrop Grumman, Palo Alto Networks and Skybox Security.
Commenting on the report, an analyst from Technavio’s team said: “Organizations find it difficult to manage standalone or integrated network components because of issues such as budget constraints and lack of resources and expertise to address security problems. Hence, organizations opt for cloud-based security solutions that are cost-effective and compatible with PCI DSS regulations and offer round-the-clock monitoring of systems. Therefore, increased demand for cloud-based cyber security solutions is expected to contribute to the growth of the cyber security market in the MEA during the forecast period.”
According to the report, increased dependency on web applications leads to an unprecedented rise in cyber-attacks, including APTs. Unlike traditional threats, APTs can affect the IT infrastructure of an organization; they also tend to target critical infrastructures such as government websites, customer databases, and web servers, and can cause more harm than other threats. Moreover, APTs can be detected only after an attack. To belter secure their networks, organizations in the MEA are adopting network security solutions, thus driving the growth of the cyber security market in the MEA.
Further, the report states that the cyber security market in the MEA is capital-intensive, which is one of the major challenges hindering the growth of the market.
BAE Systems, Booz Allen Hamilton , Cisco Systems, Fortinet, Juniper Networks, Raytheon, Symantec, Fortinet, Brocade Communications Systems, CA Technologies, Check Point Software Technologies , Citrix Systems, CSC, Emc², FireEye, IBM, Northrop Grumman, Palo Alto Networks, Skybox Security
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