Page 8 - Digitaltech Magazine Cybersecurity
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uaE maRkETScapE
growing imporTanCe of DaTa
seCuriTy in The uae markeT
he Information Technology attacks and complex threats such as their businesses, thereby adopting
industry in UAE has witnessed phishing, malwares, zero day, and the internet as a channel for
Ta dramatic growth in the ransomware is largely felt. This is business; this had driven the need
last 15 years. In fact, it is the 10th driving huge investments into the for data/cyber security.”
fastest growing industry in the sector. While the current estimated To top it all, the novel
country, according to data released size of the cyber security market in coronavirus pandemic (Covid-19)
by LinkedIn. With cybersecurity UAE is close to 1.8 Billion AED, it has brought new challenges that
evolution and proliferation of is projected to register an average forced everyone to reconsider the
internet-connected devices and CAGR of 11.1% during 2020-26. concept of Remote working. “What
digital transformation, data security Furthermore, the security changed overnight are the lures that
is also evolving as a much talked market is expected to grow in criminals have been using to scam
about area in the UAE market. the next few years as a result of users into falling for their tricks.
technological advancements in areas
of integrated security solutions and
next generation security solutions
along with increasing adoption of
advanced technologies such as AI,
IoT, among others gaining traction.
The focus of the government on
automation and all things SMART
covering sectors like transport,
health, renewable energy, water,
education, environment, traffic etc
will further propel this market.
According to Chandrashekar
Balasubramanian - Chief Business
ChAnDrASheKAr Officer, Futurenet Technologies, hArISh ChIb,
bAlASubrAmAnIAn, ME (Middle East) has always Vice President, Middle East &
Chief Business Officer, been a traditional market with Africa – Sophos
Futurenet Technologies large reliance on Retail, in store
sales, Malls as a primary source
of attracting customers albeit When the pandemic hit, the actual
The UAE Data security market tourists; this has been severely volume didn’t necessarily grow but
is anticipated to grow during impacted because of the pandemic. some of the criminals behind these
2020-2023 as the need to protect “Coupled with the fall in Oil prices, scams switched their bait,” observed
important documents and data establishments have been forced Harish Chib, vice president, Middle
from various types of sophisticated to adopt newer ways of protecting East & Africa – Sophos.
8 27 AUGUST 2020
