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Cyber Security Market in the Middle East and African Region Poised to Grow to USD 13.43 billion in 2019
Published Sep 13, 2015
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A recent report from Cybersecurity Ventures, a leading research and business development firm, has forecasted that the cyber security market of the Middle East and African region (MEA) is expected to grow to USD 13.43 billion by the year 2019--covering an expected compounded annual growth rate (CAGR) of 13.7 per cent in the next five years. Amidst this, industry experts have also predicted that digital businesses will suffer major service failures due to the inability of IT security teams to manage digital risk. Looking to address this challenge, Koenig Solutions, India’s leading IT training provider and the world’s number one offshore training company, has expressed confidence in addressing the skills shortage in the regional cyber security market by leveraging its diverse portfolio of world class IT-based courses. The company is expected to throw the spotlight on its cyber security focused offerings during their participation as the Silver Sponsor of this year's edition of the GCC Cyber Security Summit, which will be held from September 13 to September 16, 2015 at the Beach Rotana in Abu Dhabi.
According to the report, digital businesses, powered by the Internet of Things (IoT), will disrupt the security organization more than the emergence of the internet. To avoid further risk, majority of the security projects currently underway and in the pipeline have placed strong focus on the improvement of security operations and incident response capabilities of enterprise infrastructure. These initiatives strongly complement predictions that global spending on IT security is set to increase by 8.2 per cent this year--with the world spending more than USD 101 billion on information security in 2018.
“Despite the rapid growth being experienced by the global IT segment, there is still a major lack of skills availability, particularly in the MEA region. As such, a large number of enterprises will rely on value added resellers and system integrators to help address their security needs, which in turn will create opportunities for vendors who can strategically align themselves with emerging buying segments,” said Rohit Aggarwal, CEO and founder of Koenig Solutions Limited. “The growing adoption of mobile, cloud and social media is expected to drive in an increase in use of new security technology and services in the next few years. With all of these developments in mind, the GCC Cyber Security Summit is being positioned as an ideal platform for industry decision makers and stakeholders along with public and private organizations to gather and discuss timely trends and issues in the cyber security segment.”
The summit, which will run over a four day period, is expected to provide collective guidance and analysis coming from some of the world’s premier cyber security experts. The event seeks to examine regional threat perceptions, risks and solutions, while also assessing how attacks on critical infrastructure should be handled and how to ensure secure government and business continuity. The GCC Cyber Security Summit will accordingly serve Central and Local Government, Critical Infrastructure, Energy and Utilities, Telecommunications, Technology Industries, Research and Development Organizations, Health Sector, Security and Intelligence Services, Police Services and Crime Prevention, Finance and Banking, Pharma, Transportation, Communication Networks, the Retail Sector and individual consumers.
“We are putting all our efforts in addressing the growing need for the improvement in security operations and incident response capabilities of enterprise infrastructure. Koenig will be conducting intensive workshops on topics such as Cyber Security System, Virtualization Security, and Wireless Network Security, which will prove to be of immense value to security professionals present at the event,” concluded Aditya Girish, Territory Manager, Koenig Solutions Limited.
Koenig recently opened its new training institute in Knowledge Village Dubai with an objective to accommodate the growing demand of IT trainings. The center will be offering its diverse portfolio of world class IT-based courses, particularly throwing the spotlight on its Cyber Security programs like CEH, Microsoft Dynamics, SharePoint, Cisco Security, Project Management, Effective Leadership, among others. The new state-of-the-art facility is part of the company’s continuing move to drive in more awareness on the importance of improving one’s IT skills. Strategically located in Dubai’s Knowledge Village, the new facility is being positioned as the learning pit-stop for more than 1,000 students—with 85 per cent coming from the Gulf region, the African continent, Europe and the United States.
Posted by
VMD - [Virtual Marketing Department]
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