Dublin, Feb. 14, 2019 (GLOBE NEWSWIRE) -- The "MEA Cybersecurity Market by Solution, Service, Security Type, Deployment Mode, Organization Size, Vertical, and Country - Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

This report expects the MEA cybersecurity market size 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.

Major growth factors for the market would be an increasing need to meet with government and regulatory requirements, and a growing sophistication level of cyber-attacks. However, the high cost of innovation for security technologies and budget constraints for Small and Medium-sized Enterprises (SMEs), and easy availability of free and pirated cybersecurity solutions may restrain the growth of the MEA cybersecurity market.

Identity and Access Management (IAM) segment to hold the largest market size during the forecast period

The IAM segment is estimated to hold the largest market size in 2018, as the IAM solution plays a critical role in managing enterprises' electronic or digital identities. The solution helps businesses enhance their security through centralized visibility and control of users' access. The IAM solution has witnessed significant growth in the recent years, as users can quickly and cost-effectively integrate the IAM solution with IAM policies across on-premises, cloud, and hybrid environments.

Network security segment to hold the largest market size during the forecast period

The network security segment is expected to hold the largest market size during the forecast period, owing to the rising number of network security breaches wherein hackers try to gain the access to sensitive data. As vulnerabilities have become more complex and sophisticated, the demand for network security products would increase for countering threats.

Middle East to hold a higher market share, whereas Africa is expected to grow at a higher CAGR during the forecast period

The African cybersecurity market is expected 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. The Middle East is estimated to hold a larger market size and dominate the MEA cybersecurity market in 2018. The increasing information security challenges, due to network complexities, strict compliance regulations, and employees' productivity, are pushing organizations in the Middle East to adopt cybersecurity solutions.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers High-Intensity Cyber-Attacks Expected to Induce Growth in the MEA Cybersecurity Market Increasing Government Compliances and Regulatory Requirements Rising Enterprise Mobility Trend Across Organizations Proliferation of Smart City and Digitization Projects in the Middle Eastern Region
5.2.2 Restraints High Cost of Innovation for Security Technologies and Budget Constraints for SMEs Easy Availability of Free and Pirated Cybersecurity Solutions
5.2.3 Opportunities Increasing Demand for Cloud-Based Data Protection Solutions Increase in Iot-Focused Cyber Threats
5.2.4 Challenges Lack of Awareness Regarding Advanced and Sophisticated Cyber Threats Shortage of Security Skills Among Security Professionals and Lack of Preplanning Among Enterprises
5.3 Regulatory Landscape
5.4 Best Practices in Cybersecurity
5.5 Use Cases
5.5.1 Anomaly Detection Solutions Adopted By an Electric Power and Gas Company
5.5.2 Dependence of A Leading IT and Telecom Company on DDOS Protection and Mitigation Solutions
5.5.3 Large-Scale Adoption of Email Encryption in A Financial Organization
5.5.4 Need for the Best-In-Class Data Protection Solutions for A Healthcare Organization
5.5.5 Adoption of Disaster Recovery Solutions By A Retail Company
5.6 Innovation Spotlight
5.6.1 Corero Network Security
5.6.2 Deep Instinct
5.6.3 XM Cyber
5.6.4 Cyberbit
5.6.5 L7 Defense
5.6.6 Seceon
5.6.7 Sekur Me

6 MEA Cybersecurity Market, By Component

6.1 Introduction
6.2 Solutions
6.3 Services

7 Market By Solution

7.1 Introduction
7.2 Identity and Access Management
7.3 Risk and Compliance Management
7.4 Encryption
7.5 Data Loss Prevention
7.6 Unified Threat Management
7.7 Firewall
7.8 Antivirus/Antimalware
7.9 Intrusion Detection System/Intrusion Prevention System
7.10 Security and Vulnerability Management
7.11 Disaster Recovery
7.12 Distributed Denial of Service Mitigation
7.13 Web Filtering
7.14 Others

8 MEA Cybersecurity Market, By Service

8.1 Introduction
8.2 Professional Services
8.2.1 Design and Implementation
8.2.2 Risk and Threat Assessment
8.2.3 Consulting
8.2.4 Training and Education
8.2.5 Support and Maintenance
8.3 Managed Services

9 Market By Security Type

9.1 Introduction
9.2 Network Security
9.3 Endpoint Security
9.4 Application Security
9.5 Cloud Security
9.6 Others

10 MEA Cybersecurity Market, By Deployment Mode

10.1 Introduction
10.2 On-Premises
10.3 Cloud
10.4 Hybrid

11 Market By Organization Size

11.1 Introduction
11.2 Small and Medium-Sized Enterprises
11.3 Large Enterprises

12 MEA Cybersecurity Market, By Vertical

12.1 Introduction
12.2 Government and Defense
12.3 Energy and Utilities
12.4 Banking, Financial Services, and Insurance
12.5 IT and Telecom
12.6 Healthcare
12.7 Retail
12.8 Manufacturing
12.9 Others

13 MEA Cybersecurity Market, By Region

13.1 Introduction
13.2 Middle East
13.2.1 Kingdom of Saudi Arabia
13.2.2 Egypt
13.2.3 Israel
13.2.4 United Arab Emirates
13.2.5 Rest of Middle East
13.3 Africa
13.3.1 Algeria
13.3.2 Morocco
13.3.3 Nigeria
13.3.4 South Africa
13.3.5 Rest of Africa

14 Competitive Landscape

14.1 Overview
14.2 Competitive Scenario
14.2.1 Partnerships, Agreements, and Collaborations
14.2.2 New Product Launches
14.2.3 Mergers and Acquisitions
14.2.4 Business Expansions

15 Company Profiles

15.1 Introduction
15.2 IBM
15.3 Symantec
15.4 Fireeye
15.5 Check Point
15.6 Cisco
15.7 Trend Micro
15.8 Sophos
15.9 Rapid7
15.10 Mcafee
15.11 Micro Focus
15.12 Microsoft
15.13 DXC Technology
15.14 Imperva
15.15 Splunk
15.16 F5 Networks
15.17 Proofpoint
15.18 Trustwave
15.19 Kaspersky Lab
15.20 Oracle
15.21 Fortinet
15.22 Palo Alto Networks
15.23 Cyberark
15.24 Forcepoint
15.25 Darkmatter
15.26 CA Technologies

For more information about this report visit https://www.researchandmarkets.com/research/5gkz8l/31_82_bn_mea?w=12

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Related Topics: IT Security