- The key vendors in the cyber security market in the MEA 2015-2019 are BAE Systems plc, Booz Allen Hamilton Inc., Cisco Systems Inc., Fortinet Inc., Juniper Networks Inc., Raytheon Co. and Symantec Corp.
London, 22 April 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the cyber security market in the MEA 2015-2019. One major trend emerging in this market is the demand for cloud-based security solutions. End-users prefer cloud-based security solutions because they are cost-effective and can be easily managed. Therefore, both large enterprises and SMEs in the MEA are increasingly adopting cloud-based cyber security solutions. The cyber security market in the MEA is expected to grow at a CAGR of 14.63% during the period 2014-2019.
Organizations are increasingly adopting cyber security solutions to improve business operations and productivity and new vendors are emerging in the marketplace. Rise in popularity of social media, cloud computing, and mobile devices has made it easy for malicious attackers to access information from vulnerable users. Moreover, several micro and small enterprises in the MEA as well as individual users prefer open-source products because the purchasing and licensing costs of commercial cyber security solutions are high.
“The need to protect networks from advanced cyber threats has led to adoption of multiple security solutions worldwide such as cyber security, web security, email security, DLP, endpoint security, and network security solutions,” says Faisal Ghaus, Vice President of Technavio Research.
“The market for converged security solutions such as Unified Threat Management and Next-generation Firewalls is growing rapidly, which will support the growth of the cyber security market in the MEA.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3E%3Cspan%20style%3D%22line-height%3A%201….
