Middle East & Africa Security As A Service Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Solution and Service), Organization Size (Large Enterprises and SMEs), Application (Network Security, Endpoint Security, Application Security, Cloud Security, and Others), and Vertical (BFSI, Government & Defense, Retail, Healthcare, IT & Telecom, Energy & Utilities, Manufacturing, and Others)
The MEA security as a service market is expected to grow from US$ 1,307.29 million in 2022 to US$ 3,032.31 million by 2028; it is estimated to grow at a CAGR of 15.1% from 2022 to 2028.
The IT infrastructure has grown more complicated and heterogeneous over the past five years due to new platforms, BYOD regulations, CYOD trends, business apps, and other technologies. The BYOD and CYOD trends are becoming more and more common in business settings due to the quick improvements in mobile computing. Through mobile devices, employees may access organizational data from anywhere, at any time, thanks to these developments, which boost employee productivity, protect organizational data from potential hazards and maintain its confidentiality and integrity. Users' access to company data is evolving as the BYOD policy gains traction in SMEs and large corporations. Organizations are deploying their workers as BYOD-related technology advances. Organizations are signing up for security services to shield devices like smartphones, tablets, desktop computers, and laptops from cyber dangers due to the BYOD model's adoption. Businesses must secure devices inside offices, and those with remote access to the corporate network as BYOD adoption expands. The market for security as a service is anticipated to rise due to the large increase in expenditure on security services.
Vendors in the security as a service market can attract new customers and expand their footprints in emerging markets by offering products with new features and technologies. This factor is likely to drive the MEA security as a service market at a good CAGR during the forecast period.
MEA Security As A Service Market Revenue and Forecast to 2028 (US$ Million)
MEA Security As A Service Market Segmentation
The MEA security as a service market is segmented on the basis of component, organization size, application, vertical, and country. Based on component, the market is segmented into solution and service. The solution segment dominated the market in 2022, and the service segment is expected to register the highest CAGR during forecast period. Based on organization size, the market is segmented into small and medium enterprises and large enterprises. The large enterprises segment dominated the market in 2022 and small and medium enterprises segment is expected to register the highest CAGR during the forecast period. Based on application, the MEA security as a service market is segmented into network security, endpoint security, application security, cloud security, and others. The network security segment dominated the market in 2022, and the application security segment is expected to register the highest CAGR during the forecast period. Based on vertical, the MEA security as a service market is segmented into BFSI, government & defense, retail, healthcare, IT & telecom, energy & utilities, manufacturing, and others. The BFSI segment dominated the market in 2022 and is expected to register the highest CAGR during the forecast period. Based on country, the MEA security as a service market is segmented into South Africa, Saudi Arabia, UAE, and Rest of MEA.
Barracuda Networks, Inc.; IBM Corporation; McAfee, LLC; Microsoft Corporation; Radware; Trend Micro Incorporated; and Zscaler, Inc. are among the leading companies in the MEA security as a service market.
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