UAE Database Security Market to Witness a CAGR of 19.4% until 2028

Published | 26 August 2022

During the forecast period, UAE database security market is expected to expand at a positive growth rate. This is mainly due to growing demand for cutting-edge security measures. Database security is increasingly being used to secure historical databases since it aids in preventing unauthorized access to the data.

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the UAE database security market is expected to grow at CAGR of 19.4% during 2022-2028 (forecast period). The extensive use of cloud-based services by several enterprises has boosted the demand for database security in UAE. The increased need for data management and protection as a consequence of the volume of data being produced by different business verticals is further driving the growth of the UAE database security market.

Database security has also become more popular as a result of the rising demand for effective security solutions for data produced by cutting-edge technologies like internet of things (IoT), big data, and cloud-based services, among others, as well as the need to secure data from hackers. These are a few of the additional factors that are anticipated to push the UAE database security market.

Growing Demand for Cutting-Edge Security Measures

Since it safeguards sensitive and priceless data, the database security is an essential part of the IT infrastructure security. This information must be confidential and in compliance with the set criteria. It is obtained on many different organizations, including consumers and suppliers. For instance, businesses collect customer information such as email address, postal address, phone number, credit card information, etc. upon the purchase of a product. Both the volume and sophistication of cyberattacks have significantly increased in recent years. Hackers are using technologies like artificial intelligence (AI), machine learning (ML), analytics, and others to make their cyberattacks more sophisticated. Even when such sophisticated attacks are discovered, recovery takes longer.

 

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Data Breaches and Data Losses among Data Security Service Providers and End Users for Cloud Solutions

Data security services offers remote data access through the internet, which is the most vulnerable source of misconfiguration. Furthermore, the cloud's basic nature converts into a distinct set of characteristics that makes it more vulnerable to all sorts of data loss. As a result, the danger of cyberattacks and data loss has increased, causing demand for cloud-based services to fall. As a result, it reduces the value of the business, resulting in a drop in the usage of cloud security services. Gulf countries, particularly UAE, are increasingly becoming the focus of sophisticated hacks aimed at collecting personal data and, in some cases, intruding government network premises.

UAE Database Security Market – By Vertical

On the basis of vertical, the market is divided into banking, financial services, and insurance (BFSI), retail and e-commerce, healthcare and life sciences, manufacturing, telecommunications and IT, energy and utilities, and others. During the projected period, the BFSI segment is anticipated to expand significantly. The BFSI industry generates a significant amount of sensitive data, which has increased the demand for sophisticated security solutions and is anticipated to be a key factor driving revenue growth in the UAE database security market.

Impact of COVID-19 on the UAE Database Security Market

Most countries have experienced an economic slowdown including UAE as a result of the COVID-19 pandemic's major effects on several businesses. As a result, it also had a big impact on governmental organizations and commercial organizations, which caused both temporary and permanent company closures during the outbreak.

The bulk of businesses have embraced the work-from-home trend as a result of the pandemic. Businesses must thus provide a more secure method of communication to every remote worker. Most organizations are experiencing problems securely transferring data due to the rising trend of working from home. Therefore, a company has to use database security solutions for secure data transfer.

Competitive Landscape

Top firms in the UAE database security industry include Trustwave Holding Inc., Hexatier, Thales E-Security, Imperva, IRI, McAfee, Micro Focus, Fortinet Inc., Oracle Corporation, International Business Machine Corporation, and others. Market leaders maintain their dominance by investing in research and development (R&D), adding cutting-edge technology into their products, and delivering improved things for customers. Apart from this, various strategies are employed, including strategic alliances, agreements, mergers, and partnerships.

 

Don’t miss the business opportunity of the UAE database security market. Consult our analysts to gain crucial insights and facilitate your business growth.

 

The report's in-depth analysis provides information about growth potential, upcoming trends, and UAE database security market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in UAE database security market ­along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the market's growth drivers, challenges, and competitive dynamics.

 

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