Middle East and Africa Security Analytics Market

Market Introduction

The MEA region consists of South Africa, the UAE, Saudi Arabia, and the Rest of MEA. At present, various countries in MEA are recognizing the potentials of implementing information and communication technology (ICT) in different industries to enhance the socio-economic climate of the region For instance, Saudi Arabia has been a quick adopter of digital payment, realizing the potentials of a digital economy. Bahrain, Qatar, and Iran are the other gulf countries leading the charge in online security threats in the region. The changing consumer preferences in the region are increasing digital and mobile payments. As technology is evolving, the cases of cyber threats are also increasing due to the generation of heaps of data. This drives the need for advanced threat intelligence solutions across the MEA region. The increasing internet penetration across the region is expected to drive the need for security services and technology.

Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait are the leading countries that faced the economic effects of COVID-19 in this region in 2020. With the COVID-19 pandemic spreading through countries mentioned above, it is becoming apparent that few can avoid its effects, posing significant challenges for all sectors, including food & beverages, retail, and medical systems. Further, many small and medium-sized enterprises (SMEs) in several Middle East states are facing challenges in running the business.          

Market Overview and Dynamics

The security analytics market in MEA is expected to grow from US$ 429.38 million in 2021 to US$ 992.58 million by 2028; it is estimated to grow at a CAGR of 12.7% from 2021 to 2028. in South Africa, in 2020, 56.3% of the South African population were internet users. This share is projected to grow to 62.3% by 2025. Thus, with the continuous growth of internet users, the companies are also transforming their businesses to digital platforms. Further, the rapid adoption of e-commerce, social media, and advanced technologies such as artificial intelligence and IoT has widened the platform for cyberattacks due to the huge amount of data generation. This drives the need for advanced threat intelligence solutions (security analytics) across the MEA region.     

Key Market Segments

MEA security analytics market is segmented into component, deployment, application, organization size, industry, and country. Based on component, the MEA security analytics market is bifurcated into solution and services. In 2020, the solution segment led the MEA security analytics market, accounting for a larger security analytics market share. Based on deployment, the MEA security analytics market is bifurcated into on-premise and cloud-based. In 2020, the cloud-based segment accounted for a larger security analytics market share. Based on application, the MEA security analytics market is segmented into network security analytics, endpoint security analytics, application security analytics, web security analytics, and others. In 2020, the network security analytics segment accounted for the largest security analytics market share. Based on organization size, the MEA security analytics market is bifurcated into small and medium enterprises and large enterprises. In 2020, the large enterprises segment accounted for a larger security analytics market share. Based on industry, the MEA security analytics market is segmented into BFSI, government, consumer goods and retail, IT and telecom, healthcare, energy and utilities, manufacturing, and others. In 2020, the BFSI segment accounted for the largest security analytics market share. Based on country, the MEA security analytics market is segmented into Saudi Arabia, South Africa, UAE, and Rest of MEA. Saudi Arabia held the largest market share in 2020.     

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the security analytics market in MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Broadcom, Inc.; Cisco Systems, Inc.; Hewlett Packard Enterprise Development LP (HPE); Huntsman Corporation; IBM Corporation; McAfee, LLC; RSA Security LLC; SolarWinds Worldwide, LLC; and Splunk, Inc.        

Reasons to buy report

• To understand the MEA security analytics market landscape and identify market segments that are most likely to guarantee a strong return.
• Stay ahead of the race by comprehending the ever-changing competitive landscape for MEA security analytics market.
• Efficiently plan M&A and partnership deals in MEA security analytics market by identifying market segments with the most promising probable sales.
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form MEA security analytics market.
• Obtain market revenue forecast for market by various segments from 2021-2028 in MEA region.

MEA

MEA Security Analytics Market -

By Component

• Solution
• Services

MEA Security Analytics Market - By

Deployment

• On-Premise
• Cloud-Based

MEA Security Analytics Market - By Application

• Network Security Analytics
• Endpoint Security Analytics
• Application Security Analytics
• Web Security Analytics
• Others

MEA Security Analytics Market - By Organization Size

• Small and Medium Enterprises
• Large Enterprises

MEA Security Analytics Market - By Country

• Saudi Arabia
• South Africa
• UAE
• Rest of MEA

MEA Security Analytics Market - Company Profiles

• Broadcom, Inc.
• Cisco Systems, Inc.
• Hewlett Packard Enterprise Development LP (HPE)
• Huntsman Corporation
• IBM Corporation
• McAfee, LLC
• RSA Security LLC
• SolarWinds Worldwide, LLC
• Splunk, Inc.

Middle East and Africa Security Analytics Strategic Insights

Strategic insights for the Middle East and Africa Security Analytics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Middle East and Africa Security Analytics Report Scope

Middle East and Africa Security Analytics Regional Insights

The geographic scope of the Middle East and Africa Security Analytics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.