MEA security market growing over 15%

According to the latest report titled ‘Middle East and Africa Cybersecurity Market‘ from Orbis Research, claimed that the cyber security market in Middle East & African was valued at USD 14.48 billion in 2017, and it is expected to reach a value of USD 34.6 billion by 2023. The market is expected to grow at a CAGR of 15.62%, over the forecast period (2018 – 2023). The research agency stated that the report has a limited scope and included solutions such as network, application, cloud, and endpoint protection.

Several reasons are contributing to this growth in the Middle East region since it is moving quickly to adopt transformative digital technologies, though the increasing penetration of the internet, adoption of IoT, and cloud, among others to enable economic diversification. Thus, the region has witnessed a healthy adoption of cybersecurity solutions for these digital platforms to avoid an increasingly complex battery of threats.