MENA enterprise information security spending will grow 9.8% in 2019

DUBAI, Middle East and North Africa (MENA) spending on enterprise information security technology and services is on pace to reach US$1.9 billion in 2019, an increase of 9.8 percent over 2018, according to the latest forecast from Gartner, Inc.

“Security and risk leaders will see new spending in areas related to cloud security and data security, driven by regulations and an increased awareness among organizations as their needs evolve to address more complex threats,” said Sam Olyaei, principal research analyst at Gartner. “Those two segments are set to achieve the highest growth rates in 2019, at 108 and 18 percent respectively.”

The enterprise information security spending market is comprised of five enterprise security product segments that will bolster growth in 2019: Cloud security spending will total US$9 million a 108 percent increase in 2019.

Data security spending will total US$125 million a 17.6 percent increase in 2019.

Infrastructure protection will total US$225 million a 10.5 percent increase in 2019.

Integrated risk management will total US$33 million a 9.2 percent increase in 2019.

Security services will total US$798 million a 9.9 percent increase in 2019.

Gartner analysts provided the latest outlook for the information security industry today at the 2018 Gartner Security and Risk Management Summit, which is taking place in Dubai through Tuesday.

” CIOs have had to evolve their traditional cybersecurity systems to address the new cybersecurity risks that digital business initiatives introduce,” added Mr Olyaei.

Cybersecurity represents one of the major risks affecting MENA businesses and individuals today. Most attacks can be grouped into five categories that commonly exploit weaknesses through mechanisms such as socially engineered malware, phishing attacks, unpatched/insecure software, social media attacks, and the regular advanced persistent threats.

Source: Emirates News Agency