United Arab Emirates Cybersecurity Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The cybersecurity market in the United Arab Emirates is expected to register a CAGR of 16.4% during the forecast period. The rapid digitalization in the United Arab Emirates has triggered the number of connected devices by opening new gateways for cyberattacks. Cybersecurity has become increasingly imperative for governments and companies as digitization has been gathering pace due to the COVID-19 pandemic, with digital criminal activity increasing.
Key HighlightsThe UAE Cybersecurity Market is fragmented and competitive, comprising several global and regional players. Innovation can bring about a sustainable and competitive advantage to these firms. New fields, such as IoT and Big Data, are reshaping security trends, and the firm concentration ratio is expected to record higher growth during the forecast period. Key players in the market are IBM, Cisco Systems, Oracle Corporation, Palo Alto Networks, and Fortinet.
In September 2022, To address misconfiguration in SaaS (Software-as-a-Service) applications, Palo Alto Networks announced innovations in Prisma SASE that allow customers to identify and remediate misconfigurations in SaaS apps using SaaS Security Posture Management capabilities. Palo Alto Networks strengthened its protection for SaaS (Software-as-a-Service) applications and reinforced ZTNA (Zero Trust Network Access) 2.0 with improved capabilities.
In January 2022, Emirates Integrated Telecommunications Company (EITC) entered into a strategic partnership with IBM, hoping to harness IBM's security and software solutions for EITC's Digital Trust portfolio and Cyber Defense Center.
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