The report recognizes the following companies as the key players in Cyber Security Market in the MEA 2015-2019: BAE Systems plc, Booz Allen Hamilton Inc., Cisco Systems Inc., Fortinet Inc., Juniper Networks Inc., Raytheon Co. and Symantec Corp.
Other Prominent Vendors in the market are: Brocade Communications Systems, CA Technologies, Check Point Software Technologies, Citrix Systems, CSC, Emc², FireEye, IBM, Northrop Grumman, Palo Alto Networks and Skybox Security.
The report said: “Organizations find it difficult to manage standalone or integrated network components because of issues such as budget constraints and lack of resources and expertise to address security problems. Hence, organizations opt for cloud-based security solutions that are cost-effective and compatible with PCI DSS regulations and offer round-the-clock monitoring of systems. Therefore, increased demand for cloud-based cyber security solutions is expected to contribute to the growth of the cyber security market in the MEA during the forecast period.”
According to the report, increased dependency on web applications leads to an unprecedented rise in cyber-attacks, including APTs. Unlike traditional threats, APTs can affect the IT infrastructure of an organization; they also tend to target critical infrastructures such as government websites, customer databases, and web servers, and can cause more harm than other threats. Moreover, APTs can be detected only after an attack. To belter secure their networks, organizations in the MEA are adopting network security solutions, thus driving the growth of the cyber security market in the MEA.
Further, the report states that the cyber security market in the MEA is capital-intensive, which is one of the major challenges hindering the growth of the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Source: ASDReports - Market Research
Date: May 4, 2015