Middle East and Africa Application Control Market Segments and Growth by 2027

Historic Data: 2017-2018 | Base Year: 2019 | Forecast Period: 2020-2027

Middle East and Africa Application Control Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component (Solutions and Services), Access Points (Desktops/Laptops, Servers, Mobiles/Tablets, and Others), Organization size (Small and Medium Enterprises and Large Enterprises), and Vertical (Government and Defense, BFSI, IT and Telecom, Healthcare, Retail, and Others)

Report Code : TIPRE00014151
Category : Technology, Media and Telecommunications

No. of Pages : 110

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The application control market in MEA is expected to grow from US$ 213.64 million in 2019 to US$ 269.48 million by 2027; it is estimated to grow at a CAGR of 3.0% from 2020 to 2027.

Saudi Arabia, UAE and South Africa and major economies in MEA. IT threats being handled by coming up of government mandates has recently picked up pace after weak steps by government in last few years. In order to accelerate the penetration of application control in MEA the governments of many countries including South Africa, Saudi Arabia, UAE have regulated IT companies with data encryption and protection laws; technology firms are now leveraging these regulatory environments. The primary users of application control are the Insurance companies, banks, IT companies. Various other financial services companies, are also the primary users of application control as they have to handle large volumes of personally identifiable information (PII) and government data protection regulations. Cyber security regulations, which includes the Health Insurance Portability and Accountability Act (HIPAA) is being regulated in Saudi Arabia. The mandate to comply with these regulations helps boost the implementation of security solutions in MEA. In the era of fast growing IT technology security threats and hackings have become so common and every enterprise be it large or small are vulnerable to such threats hence they need to have IT security solutions. The MEA expenditure on tackling this issue has increased in the last recent years as the enterprises are prone to cyber-crimes. The budget allocation for cloud security has risen by 148% since 2017. Also, expenditure on other information security software has grown by 25% from 2017 to 2019. Other facts regarding cyber-attack includes; more than 85% of malware are done through email platform and in the first half of 2019, the number of attacks on IoT devices have been tripled due to high usage of connected devices,. These aspects generate a need for advanced security solutions. Moreover, Cybint, a cyber-education company, has mentioned some facts about cyber security through its report, and they are as follows: The retail, IT and telecommunications, and government sectors account for >80% breach records of the MEA. Recently >70% of health insurance agencies, medical treatment facilities, and healthcare manufacturing companies witnessed malware attacks. In addition to data breaches in the industrial sector, personal data has also been sabotaged. Thus the handling of IT threats with government’s mandates is likely to rise tremendously to protect both individuals and enterprise data, further promoting the use of application control in MEA thus proving to be a major driving factor for the growth of MEA application control market. Furthermore the COVID-19 is having terrible effect on MEA economy. In the MEA region, Iran, Saudi Arabia, Qatar, South Africa, and UAE are some of the countries with high number of COVID-19 confirmed cases and deaths. The economic and industrial growth of these countries has been affected negatively in the past few months. The MEA region is expected to witness a significant impact of COIVD-19 in near future owing to heavy reliance on international vendors, and authorized sales representatives due to lack of prominent solution providers in the region. The region is projected to register a swift decline in their supply of application control related solution and services owing to disruption in business activities and operations across the vendors in other regions who have had witnessed challenges in continuing IT operations owing to slow business conditions disrupting the ability to meet the service demands to another regions.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the application control market. The Middle East and Africa Application Control market is expected to grow at a good CAGR during the forecast period.