Market Trends of Qatar Cybersecurity Industry
This section covers the major market trends shaping the Qatar Cybersecurity Market according to our research experts:
Rapidly Increasing Cybersecurity Incidents Driving the Market
- The global penetration of the internet and the adoption of payment-linked online services, which attract profit-seeking criminals, are the primary drivers for cyber attacks. Significant reductions in device costs, coupled with emerging business models, have been instrumental in increasing the market penetration of IoT, thus boosting the number of connected devices, such as connected cars, machines, meters, wearables, and consumer electronics.
- Cybersecurity incidents in the country are continuously increasing as enterprises aggressively embrace digitalization and connected technologies as part of business operations. Qatar's rapidly developing economy depends on various information and communications technology (ICT) platforms for innovation and growth.
- Increased ICT use and broadband connectivity bring enormous benefits to the government, businesses, institutions, and individuals. This factor further increases cyber threats, leading to increased adoption of cyber security solutions.
- For instance, Trend Micron announced that the company identified and blocked more than 15 million cyber threats in Qatar. Such instances increase the adoption of cybersecurity solutions, thus leading to the growth of the market.
Understand The Key Trends Shaping This Market
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Cloud-deployed Cybersecurity Solutions are Expected to Hold Significant Market Share
- The increasing adoption of strategies and technologies for reducing operational costs by using the cloud for data storage is boosting the demand for cloud-based solutions and the adoption of on-demand security services.
- Large businesses and SMEs in the region are rapidly switching to cloud-based solutions due to several advantages. Due to the limited financial resources for cybersecurity, SMEs have embraced cloud deployment of cybersecurity solutions as it allows businesses to invest in their core skills rather than allocate significant resources to security infrastructure.
- With the increased adoption of cloud services, such as Google Cloud, AWS, and Microsoft Azure, and with these tools emerging as an integral part of business processes, enterprises have to deal with security issues, such as loss of control over sensitive data, thus increasing the incorporation of on-demand cybersecurity solutions.
- The rising adoption of cloud-based email security services is encouraging the use of services integrated with other cybersecurity platforms, such as IPS and NGFW. Due to this trend, businesses are becoming less inclined to invest in specialized, on-premise security solutions, thus increasing the demand for cloud-deployed cybersecurity solutions.
