Delta, BC -- (SBWire) -- 09/29/2020 --The UAE Managed Security Service (MSS) market is projected to grow at an astronomical rate in the forecast period due to the surging incidences of cyber-crime, rising trend of usage of Bring Your Own Device (BYOD) concept, and increasing adoption of cloud solutions among the verticals such as ICT, BFSI, energy etc. Along with these, an escalating demand for MSS services among small and medium-sized enterprises (SMEs), robust investment toward infrastructure development, and launch of various development strategies by the government such as Dubai Smart City Initiative and Vision 2021. Thus, these are anticipated to strongly contribute toward the growth of the market in the forthcoming period.
According to MarkNtel Advisors' research report titled "UAE Managed Security Services Market Analysis, 2020", the UAE Managed Security Services market is anticipated to grow at a CAGR of around 13% during 2020-25. Based on services, security asset monitoring & management acquired the majority share in the UAE managed security services market. The growth of the segment is attributed to the rapid digitalization with prominence of technologies such as cloud migration and software-defined networks (SDN) among enterprises, increasing data volume, and robust growth in IT infrastructure.
"UAE Managed Security Services Market Analysis, 2020" provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Managed Security Services providers across the country. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
BFSI Acquired the Highest Market Share
Based on sector, BFSI acquired the highest market share in 2019. This is due to rising cyber threats, escalating number of private and public cloud installations so as to manage confidential data of numerous customers, and growth in the adoption of digital technologies which are leading to a surge in the demand for managed security services in BSFI sector as stated in MarkNtel Advisors' research report "UAE Managed Security Services Market Analysis, 2020".
According to MarkNtel Advisors, the key players with a considerable market share in the UAE Managed Security Services market are DTS Solution, Dark Matter, McAfee, LLC, eHosting DataFort, Fortinet, Paladion, Emirates Telecommunication Corporation, Etisalat, LogRhythm Inc, Paramount Computer System FZ-LLC, etc.
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Market Segmentation:
1. By Sectors (Healthcare, Energy, BFSI, ICT, Other Sectors),
2. By Services (Security Asset Monitoring & Management, Threat Intelligence, Research, Detection & Remediation, Risk & Compliance Management, Advance & Emerging Managed Security Services),
3. By Deployment Mode (Cloud Based and Customer Premise Equipment)
4. By Region (Dubai Emirates, Abu Dhabi Emirates, Others),
5. By Company (DTS Solution, Dark Matter, McAfee, LLC, eHosting DataFort, Fortinet, Paladion, Emirates Telecommunication Corporation, Etisalat, LogRhythm Inc, Paramount Computer System FZ-LLC, etc.)
Key questions answered in the study:
1. What are the current and future market trends of the Managed Security Services industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Managed Security Services industry?
5. What are the customers orientation, purchase behavior, and expectations from the Managed Security Services firms across various regions?
About MarkNtel Advisors
MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.
We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.
