GCC Cyber Security Market to Reach USD 11.4 Billion by 2024
According to Goldstein Research, GCC Cybersecurity market is expected to reach USD 11.4 billion by the end of 2024 from USD 7.2 billion in 2016, growing at a CAGR of 5.9%. The growing digitization in the GCC region also accounts for growing cyber threats which are driving the demand for cybersecurity solutions and development by advanced technology development and its implementation. GCC Cybersecurity market segmentation has been done on the basis of solution type, services, deployment type, end-users, and geography. Cyber threats have attained the government focus towards national security and increased the expenditure to curb them. GCC Cyber security market is majorly dominated by UAE and closely followed by Saudi Arabia. UAE has the majority of cyber security professionals and has the most advanced technology, which accounts for 35% market share of the total GCC cyber security market.
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Market Segmentation
On the basis of our in-depth analysis, GCC Cyber Security Market can be segmented as follows:
Based on Solution Type
• Risk and Compliance Management
• Unified Threat Management (UTM)
• Security Incident Management
• Identity and Access Management (IAM)
• Encryption
• Intrusion Prevention Systems
• Other (Disaster Recovery etc.)
Based on Services
• Managed Services
• Professional Services
Based On Deployment Type
• Cloud
• On-Premises
Based on End Users
• Government Sector
• BFSI (Banking, Financial Services and Insurance)
• Manufacturing
• ICT (Information and Communication Technology)
• Aerospace and Defense
• Retail
• Healthcare
• Other (Education etc.)
On the basis of region
• Saudi Arabia {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
• United Arab Emirates {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
• Qatar {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
• Oman {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
• Bahrain {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
• Kuwait {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
“GCC Cyber Security Market Outlook 2024” contains detailed overview of the GCCcyber security market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by solution type, services, deployment type, end-users, and countries.
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The GCC Cyber Security Market Report highlights the competitive outlook of major GCC players that includes the business strategies, product portfolio, revenue distribution, financial analysis, R&D activities and investments. The in-depth analysis of cyber security market report will help the clients to assess their business strategies as per the competitive environment in the market space.
Major players of the GCCcyber security market discussed in the report are IBM Security, Raytheon Company, Mimecast, Cisco, CyberArk Software, Lockheed Martin, BAE Systems, Rapid7, Palo Alto Networks, Symantec, Root9B, Herjavec Group, FireEye, Sophos, Sera-Brynn, Kaspersky Lab, etc.
Further, the GCC Cyber Security Market Report encompasses the major trends & growth opportunities, market dynamics, and other growth factors. The Cyber Security Market outlook also comprises of key challenges for the market players, risk analysis, SWOT Analysis, BPS analysis and Market Attractiveness. The report also includes the expert analysis which provides a complete overview of the market post analysis of the economic, political, environmental & social factors of each region and country.
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