Market Insights
As per recent research by MarkNtel Advisors, The Kuwait Managed Security Market is projected to grow at a CAGR of around 3.0% during the forecast period, i.e., 2022-27.
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Key Driver: Mounting Incidence of Cyber-Attacks in Kuwait
One of the major drivers of managed security market growth is the significant rise in the number of cyber-attacks. In fact, during the COVID-19 pandemic, Kuwait experienced more than 1000 cyberattacks during the first half of 2020 alone, including spam attacks, breaches of corporate email addresses, malware, ransomware, and malicious domains. The market expansion can be attributed to a sudden shift in enterprise preference for the integration of advanced technologies such as cloud and IoT, the implementation of a cybersecurity framework to improve the banking sector’s resilience to cyberattacks, as well as increased spending on IT infrastructure development.
Market Segmentation and Consumer Behavior:
By Type
- Security Software
- Firewalls
- Data Security
- E-mail security
- End point protection
- Identity Access Management
- Web Proxi
- Cloud Access Security Brokers (CASB)
- Security Information and Event Management (SIEM)
- Threat Management
- Threat Intelligence/Visibility
- Integrated Risk Management Solutions
- Security Vulnerability Scanning
- Security Hardware
- Firewalls
- Network Access Control
- Security Managed Services
- Firewalls
- End point protection
- Identity Access Management
- Security Information and Event Management (SIEM)
- Threat Management
- Threat Intelligence/Visibility
- Security Vulnerability Scanning
By Enterprise Size
- Small & Medium size Enterprises
- Large Enterprises
By Deployment Model
- On-Premises
- Cloud
By End User
- Government
- BFSI
- Healthcare
- Manufacturing
- Retail
- Telecom & IT
- Oil & Gas
- Others (Hospitality, etc.)
By Service Provider
- IT Service Providers
- Managed Security Specialist
- Telecom Service Provider
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Key Players and Competitive Strategies in the Kuwait Managed Security Market
Several prominent players dominate the Kuwait Managed Security Market, including:
- BT Group
- Algosec
- InfoPercept
- Fortinet
- Wipro
- Secureworks
- IBM
- Cisco
- Paladion Networks
- Intel
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Questions Addressed in this Study
1.What factors are driving the Kuwait Managed Security Market growth?
2.How is the Kuwait Managed Security Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Kuwait Managed Security Market?
4.What is the current size of the Kuwait Managed Security Market, and how is it projected to change in the future?
5.What is the future outlook for the Kuwait Managed Security Market in terms of technological advancements and market expansion?
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