The GCC region acquires a significant share of the world’s energy resources and with an increased usage of personal internet and smart devices for banking applications over the past few years, the region has become more exposed to phishing and DDOS attacks. Globally, the United Arab Emirates (U.A.E) is placed at the fifteenth position as a victim of cyber-attacks due to the high density of established commercial and government organizations in the country. Increased interconnectivity, digitization, and use of social media within the organizations have made the GCC appear more pregnable to cybercrimes. In 2012, Saudi Aramco, the world’s largest oil company, was hit by a virus attack, which caused large scale damage of about $15 million and loss of critical data. In 2015, around 50% of the organizations faced Distributed Denial of Service (DDOS) attacks.
The GCC Cyber Security market is estimated to grow over $10.41 billion by the end of 2022. Currently, Cyber Security solutions are acquiring a major share of the market because of an increase in the internet users in the GCC region with current estimation being approximately 40 million. Also, 45% of the social networking users in the U.A.E witnessed cybercrimes in 2015.
Cyber space is continually expanding with new and innovative developments like ‘Internet of Things’ and ‘Big Data’, which will add to more levels of complexities and security challenges with regard to the various networks and systems. Therefore, cyber security will prove to be an important element of any organization and will attempt to provide many opportunities to a number of vendors to foster cyber security solutions in the GCC region.
The GCC region has become the centre point for cyber-attacks because of the region’s strategic and economic significance. The combination of attacks on Saudi Aramco and the major banks in the GCC region has put most of the Gulf countries towards the attention of various new cyber threats they might face in the future.
Our market study includes an overview and analysis of the GCC Cyber Security market by solutions and services, application verticals and GCC countries, allowing the research to develop a comprehensive outlook of the market. The report provides extensive insights of the different developments, trends and key participants.
While highlighting the key driving and restraining forces for this market, the report also provides a comprehensive section of the prominent laws, patents and standards for the GCC Cyber Security market.
The answers to the following key questions can be found in the report:
• What are the key market trends and developments in the GCC Cyber Security market
•What is the Cyber Security technological overview in the GCC region
•What are the benefits of cyber security in the GCC region
•What are the different types of cyber-attacks prevalent in the GCC region
•What are the key drivers, challenges and opportunities for the Cyber Security market in the GCC region with their impact analysis
•Which key application verticals is utilizing Cyber Security in the GCC region with their market statistics
•What are the important Cyber Security solutions in the GCC region with their market statistics
•What are the important Cyber Security services in the GCC region with their market statistics
•Which GCC country will lead the Cyber Security market by the end of the forecast period
•Who are the key players in the GCC Cyber Security market
The research also incorporates Porter’s Five Force Model for an in-depth analysis of the GCC Cyber Security market. The report builds itself upon a comprehensive value chain giving a clear understanding of the ecosystem of the Cyber Security market in the GCC region.
The report includes the profiles of major players in the GCC Cyber Security market that allows readers to get an insight into the industry trends. Some of the leading companies in the GCC Cyber Security market are Booz Allen Hamilton, Cassidian Cyber Security, Fortinet, FireEye, Kaspersky Lab, among others.
Summary:
Get latest Market Research Reports on GCC Cyber Security. Industry analysis & Market Report on GCC Cyber Security is a syndicated market report, published as GCC Cyber Security Market Report 2016. It is complete Research Study and Industry Analysis of GCC Cyber Security market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.