UAE Managed Security Services Market Analysis, 2020

Intensifying Malware and Encrypted Attacks Catalysing the Growth of UAE Managed Security Services

The government's focus on digital transformation and securing cyberspace has been proliferating the managed security services in UAE. The country recognizes itself as a regional financial hub for the Middle East and Africa due to massive private investments in the banking and financial services segment. Therefore, IT security investments from BFSI have been soaring at a faster pace. 

Moreover, with the growth in the emerging concept of Bring Your Device (BYD) concept and alarming concerns for malware encrypted attacks is accelerating the growth of UAE managed security services. Other factors promulgating the growth of managed security services are growing cybercrime, emanating concerns regarding zero-day attacks, Synchronization (SYN) floods, etc. The intensifying number of such cybercrime attacks in numerous sectors, especially the banking & financial sector, is expected to result in a snowballing number of organizations across the country opting for managed security services (MSS) over the next five years. 

According to MarkNtel Advisors’ research report “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.

Cloud-Based Segment Registered a Proliferated Growth

The cloud-based segment dominated the overall UAE managed security services market in 2019. The segment is projected to maintain its dominance throughout 2020-25. The Cloud-based MSS offers higher secrecy as compared to CPE, as revealed by the MarkNtel Advisors’ research report “UAE Managed Security Services Market Analysis, 2020”.  Few of the major MSS players operating in the UAE include Injazat Data Systems LLC, Emirates Integrated Telecommunications PJSC, and DTS Solutions, etc.

Snowballing Demand for Security Asset Management Monitoring & Management Services

The Security Assets Monitoring & Management (SAMM) Service coupled with intrusion detection grabbed the maximum market share in the UAE managed security services market in 2019. Bolstering software-defined networks (SDN), the Internet of Things (IoT) coupled with propelling the role of digitalization across several enterprises, including cloud migration is inducing the demand for such security services. Furthermore, owing to rapid organization expansion in the country and the need for real-time monitoring skyrocketing data volumes anticipated to accentuate the demand for SAMM service in the coming years.

Banking, Financial Services & Insurance Segment is Witnessing Accentuated Growth

On account of the higher probability of cyber threats in the banking sector, the growth of managed security segments is soaring in the UAE. It is necessary for the banking organizations to use managed security services as they maintain highly confidential data of user transactions, customer including biometrics. In 2020, it has been found that more than 70% of the cyber-attacks were centered at BFSI institutions, where financial gain was the main objective behind the attack. Additionally, several government compliances make it mandatory for companies in the energy sector to adopt MSS for managing their routine activities.

According to MarkNtel Advisors’, the key players with a considerable market share in the UAE Managed Security Services market include DTS Solution, Dark Matter, McAfee, LLC, eHosting DataFort, Fortinet, Paladion, Emirates Telecommunication Corporation, Etisalat, LogRhythm Inc, Paramount Computer System FZ-LLC, etc. 

“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 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.       

Market Segmentation:

1. By Sectors (Healthcare, Energy, BFSI, ICT, Other Sectors), By Services (Security Asset Monitoring & Management, Threat Intelligence, Research, Detection & Remediation, Risk & Compliance Management, Advance & Emerging Managed Security Services), 
2. By Deployment Mode (Cloud Based and Customer Premise Equipment)
3. Region (Dubai, Abu Dhabi, Others), 
4. 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 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 customer orientation, purchase behavior, and expectations from the Managed Security Services firms across various regions?