Tuesday, June 7, 2011

IT Security Software & Appliances Market to Bolster in the Gulf Region

by: Shushmul Maheshwari

Changing business scenario has been driving the IT spending in the GCC countries for the past few years. Especially, the demand for IT security software and appliances has witnessed a significant growth during the past few years in Gulf region. Besides, initiatives taken by the government at the country level are an important driver of the region’s IT spending growth.

According to our research report “Global IT Security Market Forecast to 2013”, IT Security Software & Appliances Market in the GCC region is projected to grow at a CAGR of around 25% during 2010-2013. It is expected that IT security will continue to remain one of the few areas, in which, Gulf companies will continue to invest. This is due to the increasing complexity and frequency of online threats and necessity to install security systems that are stipulated by the regulatory compliance measures.

Further, growth is not only expected in the IT sector, but increasing IT infrastructure and rapid increase in the Internet usage among businesses and consumers are also making them vulnerable to the malicious cyber world. Thus, the demand for IT security products and services are increasing across the Gulf region. Apart from this, swift economic growth in the Gulf countries is fostering the demand for IT security products and services.

At the country level, the UAE and Saudi Arabia are the largest markets for IT security software and appliances in the GCC while by verticals, financial, telecom and the government are the largest IT spenders in Gulf for the last couples of years. During difficult economic condition also, major Gulf IT market registered positive growth. Moreover, many countries in the region are investing huge amount on the development of IT infrastructure.

Our research report “Global IT Security Market Forecast to 2013”, provides detail information upon global IT security market by security appliances, security software and security services. The report includes country level analysis of North America, Europe, Asia Pacific, and the MEA region. The report also analyzes the driving factors and trends in the IT security market to provide the best consultancy in the field of global IT security market to clients.

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