Report : Middle East & Africa Cloud Security Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Service Model [Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS)], Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), Organization Size [Small & Medium-sized Enterprises (SMEs) and Large Enterprises], Solution Type (Email and Web Security, Cloud Identity and Access Management, Data Loss Prevention, Intrusion Detection System/Intrusion Prevention System, Security Information and Event Management, and Others), and Industry Verticals (BFSI, IT and Telecom, Energy and Utilities, Government and Public Sector, Healthcare and Life Sciences, Manufacturing, and Others)
At 13.0% CAGR, the Middle East & Africa Cloud Security Market is speculated to be worth US$ 6,370.70 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Middle East & Africa cloud security market was valued at US$ 3,065.98 million in 2022 and is expected to reach US$ 6,370.70 million by 2028, registering a CAGR of 13.0% from 2022 to 2028. Surge in technological advancements in cloud security and increase in government initiatives are the critical factors attributed to the Middle East & Africa cloud security market expansion.
Cybersecurity Mesh: Upon embracing cloud-based operations, businesses store their data and assets outside their network, which indicates the need to secure these data. The idea behind cybersecurity mesh is to have a distributed network and infrastructure that can enclose users’ devices in security. Businesses can access their data from a single point of security. This offers a centralized security policy with dispersed enforcement. The concept of a cybersecurity mesh is perceived as one of the components of a Zero-Trust architecture in the Middle East & Africa cloud security market.
Hybrid and Multi-Cloud Environment: Hybrid cloud, which is a combination of public and private clouds, simplifies workload migration and enables the use of common tools across both private and public cloud platforms. An organization can either migrate all of its data to the cloud or prefer to move only a part of it, along with privately hosting other services. Most businesses opt to employ the hybrid strategy that is more secure than full cloud deployment. Such environment helps in the growth of Middle East & Africa cloud security market.
Cloud-Native Tools and Platforms: Cloud-native applications, which are created specifically to operate on the cloud, are gaining prevalence with the growing use of cloud platforms. These applications try to utilize the speed and effectiveness of cloud platforms. Security platforms and solutions created for on-premise applications are incapable of safeguarding resources stored in the cloud. Creating such platforms helps the Middle East & Africa cloud security market to grow on a larger scale.
On the contrary, weak collaborations among organizations and cloud security service providers process hurdles the growth of Middle East & Africa cloud security market.Based on service model, the Middle East & Africa cloud security market is segmented into infrastructure as a service (IaaS), platform as a service (PaaS) and software as a service (SaaS). The software-as-a-service (SaaS)segment held 42.7% market share in 2022, amassing US$ 1,310.40 million. It is projected to garner US$ 2,447.04 million by 2028 to expand at 11.0% CAGR during 2022–2028.
Based on deployment model, the Middle East & Africa cloud security market is segmented into public cloud, private cloud, and hybrid cloud. The public cloud segment held 55.2% market share in 2022, amassing US$ 1,691.25 million. It is projected to garner US$ 3,087.29 million by 2028 to expand at 10.6% CAGR during 2022–2028.
Based on enterprise size, the Middle East & Africa cloud security market is segmented into small and medium-sized enterprises (SMEs), and large enterprises. The large enterprises segment held 72.6% market share in 2022, amassing US$ 2,225.21 million. It is projected to garner US$ 4,391.43 million by 2028 to expand at 12.0% CAGR during 2022–2028.
Based on solution type, the Middle East & Africa cloud security market is segmented into email and web security, cloud identity and access management, data loss prevention, intrusion detection system/intrusion prevention system, security information and event management, and others. The email and web security segment held 28.1% market share in 2022, amassing US$ 861.39 million. It is projected to garner US$ 1,637.37 million by 2028 to expand at 11.3% CAGR during 2022–2028.
Based on industry vertical, the Middle East & Africa cloud security market is segmented into BFSI, IT and telecom, energy and utilities, government and public sector, healthcare and life sciences, manufacturing, and others. The BFSI segment held 22.48% market share in 2022, amassing US$ 689.35 million. It is projected to garner US$ 1,406.65 million by 2028 to expand at 12.6% CAGR during 2022–2028.
Based on country, the Middle East & Africa cloud security market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 33.3% market share in 2022. It was assessed at US$ 1,019.61 million in 2022 and is likely to hit US$ 1,932.87 million by 2028, exhibiting a CAGR of 11.2% during the forecast period.
Key players dominating the Middle East & Africa cloud security market are Amazon Web Services; Microsoft Corp; International Business Machines Corp; Oracle Corp; Trend Micro Incorporated; VMware, Inc.; Palo Alto Networks, Inc.; Cisco Systems Inc; Check Point Software Technologies Ltd.; and Google LLC among others.
- In 2022, Palo Alto Networks added Out-of-Band Web Application and API Security (Out-of-Band WAAS) to Prisma Cloud to help organizations secure web applications with maximum flexibility.
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