The increasing need to comply with stringent regulations to drive the growth of the MEA Cybersecurity Market
MarketsandMarkets expects the cybersecurity market size to grow from USD 15.66 billion in 2018 to USD 31.82 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 15.2% during the forecast period. Major growth factors for the market would be an increasing need to meet with government and regulatory requirements, and a growing sophistication level of cyber-attacks. However, the high cost of innovation for security technologies and budget constraints for Small and Medium-sized Enterprises (SMEs), and easy availability of free and pirated cyber-security solutions may restrain the growth of the cybersecurity market.
Want to understand more? Contact Warren Nelson, VitrX, Cybersecurity Expert – 01494 363 119