GCC Cyber Security Market to Reach Over $7B in 2018

Reading time ( words)

In a new report, market research firm Visiongain forecasts the cyber security market in the Gulf region (GCC) to see $7.1 billion in spending in 2018.

The Gulf region contains a significant share of the world’s energy resources, and there has been an increased usage of personal internet and smart devices for banking applications over the past few years, which has made the banks vulnerable to phishing and DDOS attacks. These are a few of the factors that have made GCC region more vulnerable to cyberattacks, according to Visiongain.

The report adds that a major cyber security trend right now is an increase of mainstream awareness among organizations of all sizes when it comes to protecting their information. The rise of ransomware and very public hacks into small businesses, non-profit organizations, and even government agencies have brought these issues to the forefront for everyone. Because of this, organizations are witnessing a general increased level of investment by every company trying to protect their sensitive data.

Cyber security has become an emerging concern for the organizations in the Gulf region, Visiongain notes. With increased usage of smart phones and social media, companies need to be prudent regarding their online safety policies.



Suggested Items

Worldwide Semiconductor Equipment Billings at $13.3 Billion in 2Q19; Down 20%

09/12/2019 | SEMI
Worldwide semiconductor manufacturing equipment billings reached $13.3 billion in the second quarter of 2019, down 20% from the same quarter of 2018 and 3% from than the previous quarter.

Uncertainties in the Market Rise while a Bounce in NAND Flash Prices Remains Unlikely in 3Q

06/20/2019 | TrendForce
According to the latest investigations by DRAMeXchange, a division of TrendForce, demand for smartphones and servers go below expected levels in 2019 as the US-China trade dispute heats up.

Telecom (Compute and Storage) Infrastructure Market to Reach $16.35B in 2022

09/03/2018 | IDC
A new forecast from IDC sizes the market for compute and storage infrastructure for Telecoms at nearly $10.81 billion in 2017. However, as Telecoms aggressively build out their infrastructure, IDC projects this market to see a healthy five-year compound annual growth rate (CAGR) of 6.2% with purchases totaling $16.35 billion in 2022.

Copyright © 2021 I-Connect007. All rights reserved.