MENA security spend to reach $1.1bn this year
Market grows as organisations focus on detection and response, says Gartner
Spending on information security technology and services in the MENA region is on pace to reach $1.1bn in 2015, an increase of 3.3% over 2014, according to the latest predictions from Gartner.
The research house said that while the monetary value of the market is lower than previously thought, due to US dollar appreciation, overall security spending is on the rise in the region. Indeed, in constant currency terms, the MENA security market is projected to grow by 15% in 2015, Gartner said.
"Enterprises in MENA are now realising that merely adopting preventive strategies is not enough, and they are beginning to focus on detection and response approaches to improve the security posture of their organisation," said Greg Young, research vice president at Gartner.
"Large organisations in the Middle East and North Africa are investing in building out security operations capabilities either in house or by leveraging external services offered by managed security services providers (MSSPs)."
Gartner recommended that organisations spend more on detection but not at the expense of blocking known threats. This requires enterprises to relook at their people, process and technology strategies around security.
"Mature technology areas, including endpoint protection platforms and most anti-virus based platforms, where the penetration rate is fairly high, are beginning to see significant commoditisation," said Young.
"Organisations' interest in security is being driven by elements of digital business, such as cloud, mobile computing and, increasingly, the Internet of Things (IoT), as well as by the sophisticated and high-impact nature of advanced targeted attacks. However these commoditised security items are crucial as the first line of defence: don't drop your guard by only new shiny security gadgets."
Gartner added that, in 2017, more than half of the network attacks targeting enterprises will use encrypted traffic to bypass controls, up from less than 5% today. The research house also predicted that, through 2018, more than 40% of state-sponsored attacks will have the source nation misidentified by the target. Meanwhile, 99.9% of attacks will be based on product vulnerabilities that were known of for at least a year.