The Middle East's cybersecurity market is projected to be worth $31 billion by 2030 as governments take measures to protect their infrastructure, new data from Frost & Sullivan has shown.
The industry's value, about $7.5 billion in 2022, will grow at a compound annual growth rate of nearly 20 per cent over the next seven years, the US consultancy said at the Gulf Information Security Expo and Conference in Dubai on Tuesday.
The UAE, Saudi Arabia and Israel are expected to lead the sector, as their cybersecurity industries and government policies have made them preferred destinations for industry academics, businesses, research and innovation, it said.
The UAE, in particular, is keen on “creating an inner circle for information security leaders to discuss critical challenges and help build the cyberresilience of businesses and enterprises in the UAE and the world”, Mohamed Al Kuwaiti, the UAE government's head of cybersecurity, said in a statement.
The world's transition to digitisation has created an increase in cybercrime.
This has prompted governments to strengthen the protection and integrity of their technological infrastructure.
The global cybersecurity market is estimated to top $500 billion by 2030, at a compound annual growth rate of 12.3 per cent from 2023, latest data from Grand View Research shows.
In 2023, cybercriminals are expected to use identity-based attacks against organisations, highlighting the need to protect technology entry points, said Roland Daccache, manager for the Middle East, Turkey and Africa US software company CrowdStrike.
“This means that organisations must authenticate every identity and authorise each request to maintain security and prevent a wide range of cyberthreats,” he said.
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
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Men's wheelchair 800m T34: 1. Walid Ktila (TUN) 1.44.79; 2. Mohammed Al Hammadi (UAE) 1.45.88; 3. Isaac Towers (GBR) 1.46.46.
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