Security spending up to $1.9bn in MENA says Gartner
Gartner predicts increased spending across all segments of security in 2019
Security spending in the MENA region will reach $1.9bn in 2019, according to Gartner, as companies improve cloud and data security.
The analyst company predicts increases across all segments of security, with growth of 9.8% over this year.
Speaking at the opening of the Gartner Security and Risk Management Summit, which is taking place in Dubai today and tomorrow, said Sam Olyaei, principal research analyst at Gartner commented: "Security and risk leaders will see new spending in areas related to cloud security and data security, driven by regulations and an increased awareness among organizations as their needs evolve to address more complex threats. Those two segments are set to achieve the highest growth rates in 2019, at 108% and 18% respectively."
Gartner segments enterprise information security into five parts, with cloud security spending set to reach $9, and data security to reach $125m in 2019. Infrastructure protection spending will grow by 10.5% to $225 million, while integrated risk management will grow 9.2% to $33m. Security services spending, which is driven by a lack of skills, will be $798m, up 9.9%.
Growth in security spending will come both from new adopters who are rapidly increasing their security, as well as existing buyers who are ramping up with advanced capabilities.
While the spending on cloud security products is set to increase 108 percent in 2019, the market remains much smaller than the other four segments, and this is primarily due to its relative immaturity. As large cloud service providers such as Amazon, Microsoft, and Alibaba establish data centers and service clients in the region, the market will continue to see double-digit growth in the future.
"Digital business initiatives are changing how organizations identify, evaluate and confront risk," said Olyaei. "Having an integrated view of risk management is also becoming more pervasive as organizations are increasingly participating in digital ecosystems, making them more vulnerable than ever before. CIOs have had to evolve their traditional cybersecurity systems to address the new cybersecurity risks that digital business initiatives introduce."