Annual 14% rapid growth….Security industry to target ‘Big market’ Middle East market
Lee Gyung Tak | kt87@ | 2017-03-24 10:04:19
Domestic security companies are planning to target the Middle East market as the Middle East market has become one of the biggest markets of information security.
According to market research Company, Market and Market on March 23, the information security market in the Middle East has grown by 14.2% annually, reaching USD 11.3 billion (KRW 12.565 trillion). The market is expected to double to USD 22.1 billion (KRW 24.74 trillion) by 2022.
The market and market report analyzed that the Middle East security market is leading the growth of the government and defense sectors rather than the private sector, and the demand for security control services and forensic solution companies in this field is expanding.
In fact, the domestic security industry is still in the early stages of the Middle East security market. However, is determined to challenge.
Igloo Security has been exporting security control services under cooperation with the United Arab Emirates (UAE) information security company ‘Dark Matter’ since last December. According to Igloo Security, the UAE security control market is expected to generate explosive demand within the next one to two years due to aggressive investment by the government. A representative of Igloo Security, said, ‘The Middle East security market is getting bigger. However there is not enough security manpower, so we are dispatching experts from Korea. We will continue to dispatch more security management specialists this year.’
Duzon Bizon is also expected to complete the project for the year 2015 by winning the Oman government digital forensic center construction project. The Duzon Bizon representative said, ‘The project is being carried out for two years by winning the Oman government digital forensic project. Although it is not directly connected to business, recently, officials from government agencies such as the Middle East and Africa visited Duzon Bizon solution.’
The mobile forensic solution company Hancom GMD, a subsidiary of Hancom Group, is also about to enter the Middle East market. Hancom representative said, ‘We are in discussions with local partners in the Middle East, but there are communication issues such as cultural differences. We expect that specific business results will emerge in the second half of this year.’
On the other hand, Saudi Arabia is biggest market in the information security market in the Middle East and demand for information security is expected to increase in various sectors including government, defense, mobile service, energy facilities and healthcare.
Qatar, which has the highest growth rate, is expected to need networking, endpoints and cloud security solutions for small and medium-sized businesses.
By Lee Gyung Tak kt87@
[ copyright ⓒ The Digitaltimes ]
According to market research Company, Market and Market on March 23, the information security market in the Middle East has grown by 14.2% annually, reaching USD 11.3 billion (KRW 12.565 trillion). The market is expected to double to USD 22.1 billion (KRW 24.74 trillion) by 2022.
The market and market report analyzed that the Middle East security market is leading the growth of the government and defense sectors rather than the private sector, and the demand for security control services and forensic solution companies in this field is expanding.
In fact, the domestic security industry is still in the early stages of the Middle East security market. However, is determined to challenge.
Igloo Security has been exporting security control services under cooperation with the United Arab Emirates (UAE) information security company ‘Dark Matter’ since last December. According to Igloo Security, the UAE security control market is expected to generate explosive demand within the next one to two years due to aggressive investment by the government. A representative of Igloo Security, said, ‘The Middle East security market is getting bigger. However there is not enough security manpower, so we are dispatching experts from Korea. We will continue to dispatch more security management specialists this year.’
Duzon Bizon is also expected to complete the project for the year 2015 by winning the Oman government digital forensic center construction project. The Duzon Bizon representative said, ‘The project is being carried out for two years by winning the Oman government digital forensic project. Although it is not directly connected to business, recently, officials from government agencies such as the Middle East and Africa visited Duzon Bizon solution.’
The mobile forensic solution company Hancom GMD, a subsidiary of Hancom Group, is also about to enter the Middle East market. Hancom representative said, ‘We are in discussions with local partners in the Middle East, but there are communication issues such as cultural differences. We expect that specific business results will emerge in the second half of this year.’
On the other hand, Saudi Arabia is biggest market in the information security market in the Middle East and demand for information security is expected to increase in various sectors including government, defense, mobile service, energy facilities and healthcare.
Qatar, which has the highest growth rate, is expected to need networking, endpoints and cloud security solutions for small and medium-sized businesses.
By Lee Gyung Tak kt87@