Middle East and Africa cybersecurity market to reach US$36.2 bn

The Middle East and Africa cybersecurity market is estimated to reach a value of US$36.2 bn by 2028, according to a new report by MarketsandMarkets.

Factors such as an increasing number of cyber attacks and the transformation of the digital landscape throughout the Middle East and Africa are the main contributors to the predicted market growth. In addition, the growth of eCommerce and digital payments, along with the stringent regulations and compliance requirements are also a contributing factor.

Security Information and Event Management (SIEM) systems are expected to account for the largest software market share in 2023 and the coming years, alongside log management technologies.

SIEM software analyses and detects unauthorised events taking place within networks, then generating reports and conducting investigations into the vulnerabilities in the network, and what took place during a potential network attack.

Log management involves the continuous collection, storage, and processing of data from various programmes running in a network. The software then displays ways in which a network can be optimised to run better and ways in which security can be enhanced. Log management also automates a number of tasks, which are traditionally time-consuming for system administrators, freeing them up to manage other aspects of the network.

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