Middle East and Africa Cybersecurity Market worth $36.2

Chicago, Nov. 22, 2023 (GLOBE NEWSWIRE) — MarketsandMarkets forecasts the Middle East and Africa Cybersecurity Market to grow from an estimated USD 22.2 Billion in 2023 to USD 36.2 Billion by 2028 at a Compound Annual Growth Rate (CAGR) of 10.2% from 2023 to 2028, according to a new report by MarketsandMarkets™. The market is expected to witness substantial growth in the upcoming years due to adherence to strict regulatory compliances and guidelines; and rising adoption of customized cloud solutions and IoT devices.

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Middle East and Africa Cybersecurity Market Dynamics:

Drivers:

1. Increased cyber threats and attacks
2. Growth of eCommerce and digital payment solutions
3. Stringent regulations and compliance requirements
4. Digital transformation initiatives

Restraints:

1. Lack of awareness and understanding
2. Inadequate infrastructure and lack of skilled professionals
3. Rapidly evolving threat landscape

Opportunities:

1. Cross-sector collaboration
2. International cooperation

List of Key Players in Middle East and Africa Cybersecurity Market:

• IBM (US)
• Cisco (US)
• Palo Alto Networks (US)
• Check Point (Israel)
• Trend Micro (Japan)
• Fortinet (US)
• Norton LifeLock (US)
• Sophos (UK)
• Kaspersky (Russia)
• Trellix (US)

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