Qatar Managed Security Services Market report comprehensively covers the market by service types, organization size, deployment type, applications and regions. The report provides an unbiased and detailed analysis of the ongoing trends, opportunities/ high growth areas, market drivers, which would help stakeholders to devise and align their market strategies according to the current and future market dynamics.
Qatar Managed Security Services Market Synopsis
Qatar managed security services market grew at a considerable rate in recent years on the back of strong government support in form of initiatives and regulations for providing a safe and secure cyber environment to its inhabitants. The major government initiatives include the National Cyber Security Strategy (2014-2018) combined with Q-CERT and several other such types of ministries that are responsible for providing security to critical infrastructural facilities.
However, the spread of COVID-19 led to an overall economic slowdown across the country as a result of the fall in oil prices, which further declined the government revenues and had an adverse impact on the ongoing investment sizes and activities in domains such as BFSI, energy and telecommunication, thereby leading to falling demand for managed security services during the year 2020. Despite of the slowdown in 2020, market revenues are anticipated to recover from 2021 onwards owing to the resumption of economic activities, business, trade and industry due to the upcoming FIFA world cup 2022 along with Qatar Vision 2023, which in turn would re-start the flow of funds in ICT & IT markets and thus propel the growth of managed security service market in near future.
According to 6Wresearch, Qatar Managed Security Services Market size is projected to grow at CAGR of 8.5% during 2021-27. Growing dependence on the ICT sector for creating a knowledge-based economy by the Qatar government to align with Qatar Vision 2030 coupled with rising internet users would escalate the digital footprint across the country, thus, fostering the demand for managed security services in the forthcoming years.
Market Analysis by Deployment Type
Based on deployment, on-premise managed security services are projected to generate the highest revenues in the overall managed security services market in 2020 of Qatar on account of maximum availability of control and visibility to the in-house IT team over the organization’s internal infrastructure. Thus, actively protecting sensitive data, applications and network from rising threats and attacks in cyberspace. However, with the growing adoption of work from home norm among employees and increasing application of IoT, big data, artificial intelligence and other such types of advanced & emerging technologies, cloud-based managed security services would witness considerable growth in the coming years.
Market Analysis by Service Type
On the basis of service type, Security assets monitoring and management services and Threat intelligence, research detection & remediation service have a cumulative market share of around 50% in the total market revenues in 2020. Security assets monitoring and management services have played a pivotal role in monitoring the devices, software and data assets of an institution to protect them from breakdowns, theft and unauthorized access as a result, the aforementioned segment held a majority share in Qatar managed security services market revenues in 2020, underpinned by the increased hardware and software dependency of the several institutions including banks, IT, Hospitals and government in the recent years. Security assets monitoring & management services would retain its dominancy in the forecast period on account of the rising usage of IT services and increasing data dependency of the various sectors.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2017 to 2020.
- Base Year: 2020
- Forecast Data until 2027.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Qatar Managed Security Services Market Overview
- Qatar Managed Security Services Market Outlook
- Qatar Managed Security Services Market Forecast
- Historical Data and Forecast of Qatar Managed Security Services Market Revenues for the Period 2017-2027F
- Historical Data and Forecast of Qatar Managed Security Services Market Revenues By Service Types, Organization Size, Deployment Type, Applications and Regions for the Period 2017-2027F
- Market Drivers
- Market Restraints
- Market Trends
- Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Market Player’s Revenue Shares
- Market Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
Thereport provides a detailed analysis of the following market segments:
By Type
- Unified Threat Management
- DDoS
- Managed SIEM
- Managed Endpoint Threat Detection
- Managed Two Factor Authentication
- Compliance Management
- Vulnerability Management
- Others
By Deployment
- Cloud-Based
- On-Premise
By Organization
- Small And Medium Enterprises
- Large Enterprises
By Applications
- BFSI
- Government/Defense
- Healthcare
- Manufacturing
- Telecom & IT
- Retail
- Others
By Regions
- Northern Region
- Southern Region
