MENA security spend to top $1bn in 2014
Gartner predicts year-over-year security spend increase of 8%
Spending on information security in the MENA region will reach $1bn in 2014, an increase of 8% over 2013, according to the latest insights from Gartner.
The combined segments of security hardware and security services will account for the majority of enterprise security spending - around 75%, the research house said, adding that it expects a similar ratio through to 2018.
The findings were released and discussed today at Gartner's first Middle East Security and Risk Management Summit, taking place in Dubai this week.
"In the response to the recent spate of security threats faced by organisations in the Middle East, a majority of the security projects currently underway and in the pipeline are focused on improving the security operations and incident response capabilities of enterprise infrastructure," said Eric Paulak, managing research vice president at Gartner.
The market segments that will benefit from this trend include network security, security implementations and security consulting, Gartner said. However, the research firm pointed out that, globally, managed security services (MSS) forms around 35% of all security services spending, but this number stands at around 16% in the MENA region. Gartner said that this indicates that MSS as a deployment model is still not as mature in this region as it is in more developed markets.
This state of affairs creates an opportunity for organisations offering security services, said Paulak.
"The lack of availability of skills in the market, coupled with the prevailing business scenario, means that the majority of enterprises rely on value-added resellers and systems integrators for their security requirements, thereby creating a lot of opportunities for those vendors that can align themselves with emerging buying segments," he explained.
Meanwhile, Gartner said that the increased adoption of mobile, cloud, social and information will drive the use of new security technology and services through to 2016. And by 2020, the research house predicted, 60% of digital businesses will suffer major service failures due to the inability of IT security teams to manage digital risk.
"The nexus of forces is impacting security in terms of new vulnerabilities," said Sid Deshpande, principal research analyst at Gartner.
"It is also creating opportunities to improve effectiveness, particularly as a result of better understanding security threats by using contextual information and other security intelligence."