Middle East & Africa Cyber Security Market Size & Outlook
Middle East & Africa cyber security market, 2018-2030 (US$M)
Related Markets
MEA cyber security market highlights
- The MEA cyber security market generated a revenue of USD 13,150.4 million in 2023.
- The market is expected to grow at a CAGR of 11.4% from 2024 to 2030.
- In terms of segment, services was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
- Country-wise, South Africa is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 13,150.4 million |
| Market revenue in 2030 | USD 27,971.8 million |
| Growth rate | 11.4% (CAGR from 2023 to 2030) |
| Largest segment | Services |
| Fastest growing segment | Services |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
| Key market players worldwide | BAE Systems PLC, Broadcom Inc, Check Point Software Technologies Ltd, Cisco Systems Inc, Fortinet Inc, International Business Machines Corp, Lockheed Martin Corp, LogRhythm, McAfee, Palo Alto Networks Inc, Proofpoint, Sophos, Trend Micro Inc |
Other key industry trends
- In terms of revenue, MEA region accounted for 5.9% of the global cyber security market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 123,114.8 million by 2030.
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Cyber Security Market Scope
Cyber Security Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa cyber security market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cyber security market will help companies and investors design strategic landscapes.
Services was the largest segment with a revenue share of 53.02% in 2023. Horizon Databook has segmented the Middle East & Africa cyber security market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
The MEA region is among the most targeted and exploited regions by cybercriminals. This can be attributed to the high pace of digitization, availability of large organizational and personal data, and rapid utilization of digital technologies among healthcare, BFSI, and energy & utility industries in the region.
The losses suffered by MEA countries are increasing year by year. Based on IBM data for 2023, finance and insurance were the most targeted industries in the region, accounting for more than 44 percent of incidents; professional, business, and consumer services accounted for around 22 percent of cyberattacks, and manufacturing & energy held 11 percent of the total attacks in the region.
Thus, the government and key companies in the market are taking significant steps to tackle these rising threats. For instance, in December 2023, the Oman Cyber Defense Center participated in Microsoft Corporation’s Government Security Program, which is aimed at driving trust and transparency by providing access to critical security information for approved government bodies worldwide.
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Our clientele includes a mix of cyber security market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa cyber security market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa cyber security market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA cyber security market size, by country, 2018-2030 (US$M)
Middle East & Africa Cyber Security Market Outlook Share, 2023 & 2030 (US$M)
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