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By SecureWorld News Team
Tue | Jul 11, 2017 | 5:02 AM PDT

Researchers predict the market will reach $22.14 billiob by 2022.

ZD Net explains:

Data published by Research and Markets earlier this year predicts that the Middle East's cybersecurity market will almost double in the next five years, up from $11.38bn in 2017 to $22.14bn by 2022.

Much of this growth is driven by government expenditure, with protection of the oil, gas, and defense industries leading the charge. Healthcare, and recognition by smaller businesses of their own cybersecurity needs, will also play a role in this growth.

Research and Markets notes that across these sectors, the key drivers for this increased outlay are factors such as the "need to mitigate IT security risks and threats, including malware, ransomware, and advanced persistent threats, along with a rising enterprise mobility trend across organizations".

Tags: Cybersecurity,