Latest 2023 Developments of the UAE Managed Security Services Market
UAE Managed Security Services Market has seen the introduction of new technologies for cyber defence, including as AI, IoT, cloud computing, and blockchain, among others. Furthermore, managed security services aid in the prevention of financial losses caused by information loss, data theft, and network damage within an organization. Ambitious socioeconomic reform plans like UAE Vision 2021 continue to spur significant investment in the sector.
Mergers And Acquisitions:
- On June 15 2021 Palo Alto Networks and AT&T recently announced a collaboration where AT&T is expanding its globally managed SASE offering with Palo Alto Networks, bringing together SD-WAN, security capabilities, and AT&T fibre-based connectivity.
- On Feb 24 2021 Atos completed the acquisition of Motiv ICT Security, the largest independent Managed Security Services (MSS) provider in the Netherlands.
UAE Managed Security Services Market Synopsis
The UAE managed security services (MSS) market is at the initial stage of its life cycle and is expected to gain momentum over the forecast period owing to several developments in UAE as a part of the Dubai Smart City Initiative, Vision 2021, and Emirates Blockchain Strategy 2021. Additionally, rising cyber-attack incidents over the past few years along with increasing digitalization in several sectors would also act as a major driver for the adoption of managed security services in the UAE.According to 6Wresearch, UAE managed security services market size is projected to grow at a CAGR of over 13.6% during 2018-24. The Security Assets Monitoring & Management (SAMM) Service type occupied the maximum revenue share in the overall UAE MSS market in 2017 owing to the increasing role of digitalization across several enterprises, including cloud migration, software-defined networks (SDN), and Internet of Things (IoT). Further, on account of rapid infrastructure development in the country, and the need to monitor the growing data volumes in real-time, the demand for SAMM service would increase in the coming years.
The banking, financial services & insurance application market accounted for the highest UAE-managed security services market share due to the higher probability of cyber threats in the banking sector. Banking organizations hold confidential data of multiple customers which is a common target for many cybercrimes. Therefore, the use of managed security services in the BFSI sector becomes necessary. Additionally, several government compliances make it mandatory for companies in the energy domain to adopt MSS for managing their routine activities.
The UAE managed security services market report thoroughly covers the UAE managed security services market by services, types, sectors, and regions. The UAE managed security services market outlook report provides an unbiased and detailed analysis of the UAE managed security services market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The UAE managed services market is expected to witness a proliferation in the coming timeframe on the back of an increase in the data colocation centres in the country along with rapid industrialization which is no doubt, supporting the revolutionization of the data management and software industry growth in the country. As a result, the increase in software use and data use is leading to more cyberattacks, and the need for security is the need of the hour. Since not all costs can be internally managed by the companies, the demand for managed security and surveillance services is increasing on account of an increase in the data security to be managed and is expected to proliferate significant demand for the managed security services in the country in the coming years and not only this, it is expected to instigate sound business growth prospects for the potential industrialists and the to be investors of the market in the coming timeframe.
UAE managed security service market is estimated to register sound growth in the coming timeframe on the back of the rising digitalization in the retail sector. the rising retail expansion especially in Dubai also Dubai hosts shopping festivals has led to increased sales coupled with rising e-commerce platforms with the growing digital era has led to the increasing growth of the hiring of managed security service providers to manage the site from cyber attackers and ensures more productivity and efficiency in the work. On the other, side the BFSI sector has also opened up the corridors for market growth owing to a rise in the need to protect the system from the data breaching practices which are estimated to act as a catalyst for the growth of the UAE managed security service market.
Key Highlights of the Report:
- UAE Managed Security Services Market Overview
- UAE Managed Security Services Market Outlook
- UAE Managed Security Services Market Forecast
- Historical data of the Global Managed Security Services Market during 2014-2017.
- Market Size & Forecast of Global Managed Security Services Market Revenues Until 2024
- UAE Managed Security Services Market Size & UAE Managed Security Services Market Forecast until 2024.
- Historical Data of UAE Managed Security Services Market Revenues during 2014-2017
- Market Size & Forecast of UAE Managed Security Services Market Revenues Until 2024
- Historical Data of UAE Managed Security Services Market Revenues, By Service Types, 2014-2017
- Market Size & Forecast of UAE Managed Security Services Market Revenues, By Service Types Until 2024
- Historical Data of UAE Managed Security Services Market Revenues, By Sectors, 2014-2017
- Market Size & Forecast of UAE Managed Security Services Market Revenues, By Sectors Until 2024
- Historical Data of UAE Managed Security Services Market Revenues, By Regions, 2014- 2017
- Market Size & Forecast of UAE Managed Security Services Market Revenues, By Regions Until 2024
- Market Drivers and Restraints, and Industry Life Cycle
- UAE Managed Security Services Market Trends and Opportunities
- Porter's Five Force Analysis and Market Opportunity Assessment
- Competitive Benchmarking, By Service Types
- Competitive Benchmarking, By Operating Parameters
- UAE Managed Security Services Market Overview on Competitive Landscape
- UAE Managed Security Services Market Share, By Players
- Company Profiles
- Strategic Recommendations
Markets Covered:
The UAE managed security services market report provides a detailed analysis of the following market segments:
By Services Types:
- Security Assets Monitoring & Management
- Threat Intelligence, Research, Detection & Remediation
- Risk & Compliance Management
- Advanced & Emerging Managed Security Services
By Sectors:
- Banking, Financial Services and Insurance (BFSI)
- Energy
- Healthcare
- Information Communication and Technology
- Others
By Regions:
- Dubai Emirate
- Abu Dhabi Emirate
- the Other Emirates
