July 20, 2020
According to the research report titled ‘UAE Managed Security Services Market Analysis, 2020’, available with Market Study Report LLC, UAE managed security services market is expected to register a y-o-y growth rate of 13% between 2020 and 2025.
Increased pervasiveness of cyber-attacks across various verticals such as energy assets, telecom infrastructure and banks is a major factor driving the growth of managed security services in UAE (United Arab Emirates). Favorable government initiatives such as Emirates Blockchain Strategy 2021 and Dubai Smart City Initiative - Vision 2021 are also aiding the market expansion.
Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2767177/
As per type, the market is segmented into unified threat management, SIEM (security information & event management), vulnerability management, risk & compliance management, firewall management, endpoint security, intrusion detection & prevention system, DDoS (distributed denial of service mitigation), and others.
The report states that intrusion detection & prevention system segment is expected to register substantial growth during the forecast period. There has been an upsurge in adoption of IoT (Internet of Things) technologies, SDN (software-defined networks) and cloud migration in the UAE. Shifting focus towards incorporating intrusion prevention & detection systems in BFSI sector is fueling the segmental growth.
In terms of enterprise size, UAE managed security services industry is bifurcated into large enterprises and small & medium size enterprises. Based on deployment model, the industry is classified into cloud and on-premise.
Citing the end-user scope, the market is divided into oil & gas, telecom & IT, retail, manufacturing, healthcare, BFSI, government, and others. The report claims that BFSI (banking, financial services and insurance) sector accounted for a significant market share in 2019 and is predicted to expand continuously during the study period. Rising prevalence of cyber-attacks is fostering the demand for managed security services across BFSI sector in UAE.
By service providers, the industry is categorized into telecom service provider, managed security specialists and IT service providers. While regionally, the business space is segmented into Sharjah & Northern Emirates, Abu Dhabi & Al Ain, and Dubai.
Paladion Networks, ixtel Technologies, Cisco Systems Inc., IBM Corp., Secureworks Inc., Wipro Ltd., Fortinet, Managed FZ-LLC, BT Group plc, DTS Solutions Inc., Emirates Integrated Telecommunications Co., and Injazat Data Systems LLC are the major companies in UAE managed security services industry. These industry behemoths are focusing on collaborations as well as mergers & acquisitions in order to gain a competitive edge. In early 2020, for instance, Etisalat acquired Help AG in a bid to not only expand business operations, but also to become resilient and robust against advanced cyber threats.