Social Media Analytics Segment Dominated the MEA Open-Source Intelligence Market During 2021-2028

According to a new market research study on “MEA Open-Source Intelligence Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technique and End-user,” is expected to reach Euro 819.80 million by 2028 from Euro 273.82 million in 2021. The market is estimated to grow at a CAGR of 17.0% from 2021 to 2028. The report provides trends prevailing in the MEA open-source intelligence market along with the drivers and restraints pertaining to the market growth. Burgeoning adoption of OSINT for social media analytics and merging of technology like artificial intelligence are the major factor driving the growth of the MEA open-source intelligence market. However, complications related to data quality hinders the growth of MEA open-source intelligence market.   

In case of COVID-19, MEA is highly affected specially Turkey and South Africa. Saudi Arabia's economy shrank by 7% in the second quarter, indicating how hard the latest coronavirus struck both the oil and non-oil industries, and unemployment reached a new high of 15.4%. The sudden spread of the pandemic resulted to a standstill in the economy and declined the technological investments of the companies across the region, thereby leaving a negative impact on the adoption of open-source intelligence solutions. As hackers take advantage of Covid-related digital adoption, the UAE's cyber leader warns that the Middle East is facing a "cyber epidemic." Cyberattacks have increased by 250% in the UAE this year, with phishing and ransomware cases becoming more common. According to Mohamed al-Kuwaiti, the head of UAE Government Cyber Security, the UAE has been the subject of "massive attacks" since establishing diplomatic ties with Israel. Owing to the rising risk of cyberattacks the UAE has established a new National Cyber Security Council, according to Al Kuwaiti, to draught policies and legislation to boost cyber security and ensure the country is not subject to assaults that may easily damage society, government, or enterprises. Thus, the above-mentioned factors expected to contribute to the high adoption of open-source intelligence, thereby positively impacting the market growth.

The MEA open-source intelligence market is segmented on the basis of technique, end-user, and country. Based on technique, the market is bifurcated into text analytics, video analytics, social media analytics, geospatial analytics, security analytics, and others. The social media analytics segment dominated the MEA open-source intelligence market in 2020 and video analytics segment is expected to be fastest growing during forecast period. By end-user, the market is bifurcated into government intelligence agencies, military and defense intelligence agencies, cyber security organizations, law enforcement agencies, private specialized business, financial services, and others. The cyber security organizations segment dominated the MEA open-source intelligence market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into the UAE, Saudi Arabia, South Africa, and rest of MEA.

Alfresco Software, Inc.; Digital Clues; Google LLC; NetSentries Technologies FZCO; Palantir Technologies; RECORDED FUTURE, INC.; and Thales Group are among the leading companies in the MEA open-source intelligence market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Sompo and Palantir launch "Real Data Platform for security, health, and wellbeing”. The launch of the platform reflects Palantir’s commitment to ensuring Japan’s leading institutions have access to the software they need to serve the country.