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Written by Jack » Updated on: July 07th, 2024
The UAE cyber security market is poised to experience significant growth during the forecast period. This growth is primarily driven by the escalating cyber threats faced by organizations. The increasing need to safeguard critical documents and data from sophisticated threats such as malware and ransomware further contributes to the market's expansion.
Moreover, the market is expected to benefit from technological advancements, including integrated security solutions and next-generation security solutions. The adoption of advanced technologies like AI and IoT presents lucrative opportunities for market growth. However, the high cost of cybersecurity solutions has hindered their adoption, particularly among SMEs. Additionally, a lack of awareness regarding internal threats within organizations poses a challenge to market growth.
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The UAE cyber security market is segmented based on security type, solution type, deployment mode, end-user industry, company, and region. The solution types encompass identity and access management, risk and compliance management, encryption and decryption, data loss prevention, unified threat management, firewall, antivirus and malware, intrusion detection/prevention systems, infrastructure security, and others. Among these, identity and access management solutions are expected to dominate the market due to the increasing popularity of BYOD, IoT, and connected devices. The BFSI sector's growing demand for identity and access management solutions further drives this segment's growth.
Key players in the UAE cyber security market include:
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These companies are actively developing advanced technologies and launching new services to maintain a competitive edge. Strategies such as mergers and acquisitions and new service developments are also employed to drive growth.
Report Scope:
In this report, the UAE cyber security market has been categorized into different segments, along with detailed industry trends. The categories include security type, solution type, deployment mode, end-user industry, and region. The report provides valuable insights for market participants, including cybersecurity service providers, consulting firms, government bodies, and organizations involved in cybersecurity-related activities. The study aims to answer critical questions and assist stakeholders in making informed investment decisions to capitalize on market opportunities.
TechSci Research conducted both primary and exhaustive secondary research for this study. Initially, a comprehensive list of service providers across the globe was sourced. Subsequently, primary research surveys were conducted with the identified companies. During these interviews, respondents were also queried about their competitors. Through this approach, TechSci Research could include service providers that were not identified through secondary research limitations.
The market size of the UAE cybersecurity market was calculated using a bottom-up approach. Data for various end-user segments was recorded and forecasted for future years. These values were sourced from industry experts and company representatives and were externally validated through the analysis of historical data of product types and applications to obtain an appropriate overall market size. Additionally, various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by TechSci Research.
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