Increased Digitization and Usage of Smart Devices in GCC Region Can Further Boost the Cyber Security Market

Bloomington, MN, February 5, 2016 (Newswire.com) - The GCC region has become the centre point for cyber attacks because of the region’s strategic and economic significance on a global level. The region acquires a significant share of the world’s total energy resources and is an emerging consumer for the use of smart devices which makes it more vulnerable to cyber attacks. GCC countries need to intensify their cyber capabilities and expand their current security partnerships in order to address Cyber Security. The failure to implement strong Cyber Security will raise the risks of cyber attacks in the GCC region.

A market study by BIS Research, titled, “GCC Cyber Security market – Estimation & Forecast (2014-2022)” has acknowledged the implementation of the Cyber Security in the GCC region. The combination of attacks on Saudi Aramco and the banks in the GCC region has put major Gulf countries on the notice of the kind of new cyber threats they might face in the future. Therefore, Cyber Security will prove to be an important element of any organization in the GCC region.

An analyst at BIS Research has estimated that the GCC Cyber Security market will increase to $10.41 billion in 2022.

Mohammad Faisal , Mr.

An analyst at BIS Research has estimated that the GCC Cyber Security market will increase to $10.41 billion in 2022. The market is foreseen to have high growth potential by the end of 2022 because of increased interconnectivity, digitization, and use of social media within the organizations and also the government acknowledgment for the implementation of Cyber Security in the GCC region will also act as a triggering force.

The research study also incorporates Porter’s Five Forces Analysis to provide an in-depth analysis of the market. The report provides substantial answers to the major aspects of the industry including market drivers and opportunities, important cyber security solutions and services, application verticals utilizing Cyber Security and GCC countries analysis for the Cyber Security market.

However, the market is currently facing one major challenge in the form of lack of technological skills among the employees of the organizations related to Cyber Security; which can also act as an opportunity for cyber security service providers to enter the GCC region by providing training and education services to the employees. Cyber space is continually expanding with new and innovative developments like ‘Internet of Things’ and ‘Big Data’, which will add to more levels of complexities and security challenges with regard to the various networks and systems. Therefore, it has the ability to provide a number of opportunities to a range of vendors in order to foster cyber security solutions in the GCC region. The report also includes profiles of Booz Allen Hamilton, Cassidian Cyber Security, Fortinet, FireEye, McAfee and Kaspersky Labs among others in the market players section.​

About BIS Research:

Business Intelligence and Strategy Research is a research and advisory company which focuses on emerging trends in the market. BIS Research is known for in-depth global market intelligence reports covering important industries like Semiconductor, Telecom, Information Technology and other emerging technologies. We follow a proven methodology which carries important information from our primary and secondary research followed by a deep analysis.

BIS Research offers a whole array of industry verticals which proffer clients end-to-end solutions of market intelligence research. Some of the verticals that have been covered by the company include Automotive Sensors, 3D Printing, Process Automation Technology, Wearable Electronic Technology, and Internet of Things among others.