Managed Security Services Market in UAE to Grow at 8% till 2021: TechSci Research Report

25 Mar, 2016, 11:30 ET from TechSci Research

BURNABY, British Columbia, March 25, 2016 /PRNewswire/ --

Growing cyber security concerns and escalating occurrence of malicious malware coupled with increasing adoption of bring your own device (BYOD) to drive UAE managed security services market through 2021 

According to a recently released TechSci Research report, "UAE Managed Security Services Market By Deployment Mode, By Application, By End User, Competition Forecast and Opportunities, 2011 - 2021", the managed security services market in the UAE is projected to grow at a CAGR of over 8% during 2016 - 2021. Growth in the market is anticipated on account of increasing cybercrime, fast emerging Bring Your Own Device (BYOD) concept, and growing concerns regarding malicious malware attacks, zero-day attacks, Synchronization (SYN) floods and Encrypted Attacks. In 2014, approximately 1,549 reports of cybercrime were registered with Cybercrime Department at Dubai Police Criminal Investigation Department. Moreover, in 2015, various major financial entities such as Sharjah Bank and UAE Bank in Dubai also reported data breaches. Rising number of such cybercrime attacks in numerous sectors, especially banking & financial sector, is expected to result in an increasing number of organizations across the country opting for managed security services (MSS) over the next five years. Further, the country's MSS market is expected to grow on account of expanding smartphone user base and internet user base, which are expected to cross 3.5 million and 4.56 million in 2016, respectively.

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On the basis of deployment mode, the market has been segmented into two categories, namely, Customer Premise Equipment (CPE) and Cloud based. Among these categories, Cloud based segment dominated the overall UAE managed security services market in 2015. The segment is anticipated to maintain its dominance over the next five years as well, as Cloud based MSS offers higher confidentiality compared to CPE. Application-wise, managed endpoint security segment is projected to dominate the UAE managed security services market during 2016 - 2021. Few of the major MSS players operating in the UAE include Injazat Data Systems LLC, Emirates Integrated Telecommunications PJSC, and DTS Solutions, among others.

"With increasing online trading and growing penetration of internet users, cybersecurity is a growing concern for various industries as well as government organizations. Centralized security management enables the companies to maintain, deploy and upgrade multiple devices remotely from a central location. Due to high complexity of the IT infrastructure, organizations are increasingly opting for centralized network solutions to enable seamless coordination among various facilities. Following the same trend, UAE managed security services market is also expected to exhibit promising growth over the next five years." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

"UAE Managed Security Services Market By Deployment Mode, By Application, By End User, Competition Forecast and Opportunities, 2011 - 2021" has analyzed the potential of the UAE managed security services market and provides statistics and information on market size, consumer behavior and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.

About TechSci Research 

TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.

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SOURCE TechSci Research