End-user spending on security and risk management in the Middle East and North Africa (MENA) region is forecast to hit $2.6 billion in 2022, an increase of 11.2% from 2021. This is according to Gartner, a technological research and consulting firm.
The Gartner Security & Risk Management Summit took place virtually in the Middle East on 15 February 2022, where Gartner analysts discussed how security leaders in the region can secure the future, manage risks and build resilience.
“Cyber-attacks have become more sophisticated over the last two years and the MENA region is not immune,” said Shailendra Upadhyay, Principal Research Analyst at Gartner. “The malicious nature of the attacks has forced security personnel in the region to revise their security strategies and increase their security and risk management spending to make their businesses ready for the future.”
In 2022, end-user spending is forecast to increase in all segments of information security and risk management. Cloud security is forecast to record the highest growth at 33.8%, followed by data security, growing by 21.9%. The region’s strategic focus on public cloud growth, intended to smoothen its shift to a ‘data driven economy’ from an ‘oil exporting economy’ will contribute to the fast growth of these segments.
“The identity and access management (IAM) market will continue to grow in the long term as organisations become more aware of the criticality of identity controls within their larger security architecture. Growth in cloud computing has shifted security from perimeter based approaches to identity context based approaches. This and other longer-term growth drivers, such as identity being foundational to digital business transformation and optimisation initiatives and compliance and regulatory pressures, should continue to propel demand for IAM solutions,” said Upadhyay.
COVID-19 accelerated digital transformation and SaaS adoption, which are the primary growth drivers for the cloud access security broker (CASB) market. As organisations look to support remote workers and continue to adopt and expand SaaS usage, CASB will be one of the key products addressing the need. The CASB market will continue to grow throughout 2023 and the convergence towards secure access service edge (SASE) will capture some of the growth starting around 2024 onwards.
For more information, visit: www.gartner.com