Last Updated on December 6, 2023 by newseditor
The global shift towards digitization has led to a surge in cybercrime incidents, urging governments to fortify the security and resilience of their technological frameworks.
According to the most recent data from Grand View Research, the global cybersecurity market is projected to surpass $500 billion by 2030. This marks a compound annual growth rate of 12.3 percent from 2023 onwards.
According to Euro Monitor, 92.5% of the population in the Middle East is connected to a mobile cellular network. Also, mobile internet adoption has increased quickly in the area. The Middle East is one of the most volatile internet regions in the world. This increase has made the region vulnerable to cyber attacks. Malicious actors from all over the world are becoming more and more interested in a country that is experiencing economic growth and high levels of digitalization. These threats must come from sophisticated criminal networks worldwide. Fortunately, cybersecurity has been on the rise in the region.
Cybersecurity Market in the Middle East
Recent data from Frost & Sullivan forecasts that the cybersecurity market in the Middle East will surge to an estimated worth of $31 billion by 2030. This growth is attributed to proactive measures undertaken by governments to safeguard their infrastructure against potential threats. Notably, the UAE, Saudi Arabia, and Israel have emerged as favored hubs for leading entities within the cybersecurity industry.
During the Gulf Information Security Expo and Conference held in Dubai, a US consultancy revealed that the industry, valued at approximately $7.5 billion in 2022, is anticipated to undergo a compound annual growth rate of nearly 20 percent over the upcoming seven years.
Forecasts indicate that the cybersecurity sectors of the UAE, Saudi Arabia, and Israel will champion this growth trajectory. These countries have robust cybersecurity space and government policies. These factors make these countries the preferred destinations for industry experts, academic pursuits, business ventures, research endeavors, and innovative initiatives.
Also, countries like the UAE are actively fostering a collective forum for information security leaders to address important challenges and contribute to enhancing the cyber resilience of both local and global businesses and enterprises.
Digiport Technologies LLC
Digiport Technologies LLC is a top cyber security intelligence provider, providing a wide array of services to customers in different sectors. The firm specializes in managed security services, email security, cyber security training, endpoint security management, threat intelligence, vulnerability assessment, penetration testing, security controls audit, and digital forensics.
Cloud Technologies offers IT security services to businesses in the United Arab Emirates. Cloud Technologies specializes in public, private, and hybrid cloud solutions. The company puts strong security measures in place to protect users, networks, infrastructure, data, and apps from attacks and weaknesses.
Security Matterz focuses on providing users with threat intelligence, incident response, digital forensics, penetration testing, managed security services, security awareness training, and vulnerability assessment. Experts at Security Matterz assist businesses in identifying, handling, and recovering from cyber events. The company’s approach helps users minimize the impact of security breaches, strengthen their security posture, and discover possible gaps.
The Middle East internet space has faced several attacks over the years. The region, particularly countries like the UAE and Saudi Arabia, has different initiatives and companies that focus on fostering cybersecurity in the region.