UAE Cyber Security Market (2020-2026) | industry, Size, Share, Revenue, Analysis, Forecast, Growth, Trends, Outlook & COVID-19 IMPACT

UAE Cyber Security Market report thoroughly covers the market by types, deployment and verticals. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, key performance indicators and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.

Latest 2023 Development of The UAE Cyber Security Market

UAE Cyber Security Market has been experiencing immense growth in recent years mainly due to growing concerns about data breaches and cyber threats. The market has encountered some of the latest developments which include government initiatives, and investment in artificial intelligence and machine learning. The UAE government has launched several initiatives to enhance the country's cyber security posture, such as the Cybersecurity Regulations for Critical Information Infrastructure. Companies are investing in artificial intelligence and machine learning technologies to improve their cyber security defences and detect threats. Moreover, with the growing adoption of cloud computing, the UAE cyber security industry has witnessed increased demand for cloud security solutions to protect sensitive data and applications.

Furthermore, Managed security service providers are expanding their offerings in the UAE to support organizations to secure their networks. In recent years, there is increasing emphasis on threat intelligence as it is important in the UAE cyber security market, with companies looking to gather and analyze data on emerging cyber threats to improve their defences. The market is driven by the growing adoption of digital technologies, increasing concern about cyber threats, and government initiatives to enhance the country's cyber security posture.

UAE Cyber Security Market Synopsis

UAE Cyber Security Market size is anticipated to witness strong growth over the coming years on account of increasing cyber threats and attacks along with increased government spending on cyber security. The government of UAE has established National Cybersecurity Strategy 2020-2025 with the motive to improve prevailing cyber security laws and regulations, safeguarding existing and emerging cyber technologies, supporting the protection of SMEs against cyber threats and mandating cybersecurity certification for government suppliers combined with starting up of 60 new initiatives and building skills of more than 40,000 new cybersecurity experts. These efforts by the government of UAE would boost the security of critical infrastructure across various sectors namely, energy, ICT, electricity and water, finance and insurance, and health, thereby, generating new areas of application for cyber security solutions and services in forthcoming years which would further enhance the UAE Cyber Security Market Growth. However, the sudden outbreak of COVID-19 in the country has disrupted the activities of several sectors, which in turn would impact the cybersecurity market negatively in 2020. However, the ongoing global pandemic COVID-19 hampered the overall economic growth of the UAE, thus, restraining the growth of the cyber security market as well.

According to 6Wresearch, the UAE Cyber Security Market size is projected to grow at a CAGR of 11.1% during 2020-2026.  The growing number of cyber-attacks in recent years has made the issue of sensitive data protection all the more important owing to rapid advancement in artificial intelligence, big data storage and 4th industrial revolution by large corporations, which in turn has augmented the demand for cybersecurity products and services in the country during the past. Based on types, enterprise cyber security services which include managed security services, outsourcing and consulting services acquired the highest market revenue share in 2019 owing to growing cloud-based deployment type and increasing awareness about safeguarding and protecting sensitive data from cyber-attacks across the country. Furthermore, growing government initiatives and support for mandating cyber security certification for government suppliers across various verticals such as energy, healthcare, transportation and BFSI would contribute to the rising demand for cyber security products and consumer software over the coming years.

Moreover, increasing advancement in technology such as next-generation security solutions such as the adoption of AI and IoT is driving the cyber security industry in UAE. Rising penetration towards regular monitoring of potential cyber-attacks is also developing the growth of the market. The surging need to protect important documents is also proliferating the UAE Cyber Security Share.

Market Analysis by Verticals

Based on verticals, in 2019, IT & Telecommunication, BFSI and Government sector accounted for a cumulative market share of around 55% in the overall market revenues. The government & defence vertical was the major revenue-generating segment in 2019 and would continue to mark its presence in years to come on account of government initiatives to boost cybersecurity infrastructure facilities in various domains of government organizations. Additionally, efforts to diversify the economy under Vision 2021 are likely to play a key role in increasing digitalization and thereby supporting the growing demand for cyber security solutions and services in verticals such as BFSI, IT & telecommunication.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects

Key Highlights of the Report

• UAE Cyber Security Market Overview
• UAE Cyber Security Market Outlook
• UAE Cyber Security Market Forecast, Until 2027
• Historical Data and Forecast of UAE Cyber Security Market Revenues, for the period 2017-2027
• Market Drivers and Restraints
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Competitive Benchmarking
• UAE Cyber Security Market Trends
• UAE Cyber Security Market Share, By Players
• Company Profiles
• Key Strategic Recommendation

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Types

• Identity and Access Management (IAM)
• Data Loss Prevention (DLP)
• Endpoint Protection
• Firewall
• Intrusion Prevention System (IPS)
• Secure Email Gateway (SEG)
• Secure Web Gateway (SWG)
• Security Information and Event Management (SIEM)
• Testing
• Other Software (DDoS, Risk and Compliance etc.)
• Managed Security Services
• Outsourcing, Implementation, and Hardware Support
• Consulting Services
• Consumer Software
• Enterprise Cyber Security Products
• Enterprise Cyber Security Services

By Deployment

• Cloud
• On-Premises

By Verticals

• Government and Defense
• BFSI
• Retail
• Healthcare and Hospitality
• IT and Telecom
• Energy and Utilities
• Manufacturing
• Others (Water Treatment Plants, Chemical Industry, etc.)

UAE Cyber Security Market: FAQs