Market Research Report
Middle East & Africa Data Diode Security Products Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type (Non-Ruggedized Data Diode and Ruggedized Data Diode), and Application (Government, Oil & Gas, BFSI, and Others)
|Middle East & Africa Data Diode Security Products Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type (Non-Ruggedized Data Diode and Ruggedized Data Diode), and Application (Government, Oil & Gas, BFSI, and Others)|
Published: November 17, 2020
The Insight Partners
Content info: 90 Pages
Delivery time: 1-2 business days
The Gulf countries are on the verge of adopting transformative digital technologies that demand the integration of security hardware between the networks to transmit data in omnidirectional flow better. The region is an aspiring adopter of technology, digital media, social media, and online entertainment. At present, many countries in the MEA region recognize the potentials of implementing ICT technologies across several industry verticals to enhance the country's socio-economic climate. For instance, Kuwait has taken up several initiatives for the development of e-government. Likewise, Saudi Arabia has been a quick adopter of electronic filing and digital payment systems, realizing a digital economy's potentials. Bahrain, Qatar, and Iran are other few gulf countries leading to digital disruption in the region. The changing consumer preferences in the region result in the rise in internet banking, which demands the integration of security hardware in the network to secure the data at the time of transmission. However, the growing digital payment industry is also attracting malicious actors, resulting in data breaches. Therefore, businesses in the region are focused on implementing the data diode security products to produce a secure, robust, and flexible infrastructure for digital banking and mobile payments. Also, soaring interest for miniaturized data diodes among various industries is expected to create a significant demand for data diode security products in the coming years, which is further anticipated to drive the data diode security products market in MEA.
The ongoing COVID-19 pandemic is adversely affecting the economies across the MEA. Iran, Saudi Arabia, Qatar, South Africa, and the UAE have high number of the COVID-19 cases and deaths. The economic and industrial growth of these countries has been affected negatively in the past few months. Economies in the region, such as the UAE, South Africa and Saudi Arabia are prospective markets for data diode security products owing to the huge presence of diverse customer base for electronics and semiconductor industries. With the adverse effects of the COVID-19 pandemic, the region is anticipated to witness the pressure on economies of various oil-based countries due to falling oil prices. In addition, the factory lockdowns, business shutdowns, and travel restrictions are aggravating the economic problems of the countries in the MEA. Hence, the growth of the MEA data diode security products market has been declined in 2020, and it is expected to continue in 2021.
Market Overview and Dynamics
The data diode security products market in MEA is expected to grow from US$ 32.58 million in 2019 to US$ 43.91 million by 2027; it is estimated to grow at a CAGR of 5.4% from 2020 to 2027. A rapid digital revolution across the world with high penetration of digital technologies, countries are possessing growth potential and zest for digital innovation to become a prominent digital economy. For this purpose, the companies across the region are undergoing digital transformation. The Internet of Things (IoT) has been implemented in all industries; at present, every buildings and machine, roads and railways, products and processes carry sensors and exchange data. Industrial and machinery plants are connected to the internet, owing to its captivating benefits such as continuous monitoring of operating and sensor data. The industrial plants that transmit data through the internet might be vulnerable. Thus, to prevent plants from vulnerability, the systems must be protected from any forms of unauthorized access. At present, data diodes in the MEA region are highly installed in the oil & gas industry. Various other sectors, such as petrochemical operations, water facilities, power generation sites, and government agencies, deploy data diode security products for the safety of their infrastructure. Thus, the rising deployment of data diode security products in various industrial applications drives the MEA market.
Key Market Segments
In terms of type, the non-ruggedized data diode segment accounted for the largest share of the MEA data diode security products market in 2019. In terms of application, the government segment held a larger market share of the MEA data diode security products market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the data diode security products market in MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are BAE Systems, Belden Inc., Fibersystem AB, Forcepoint, Fox-IT Holding B.V., Rohde & Schwarz GmbH & Co. VADO Security Technologies Ltd.
MEA Data Diode Security Products Market Segmentation
MEA Data Diode Security Products Market - By Type
Non-Ruggedized Data Diode
Ruggedized Data Diode
MEA Data Diode Security Products Market - By Application
Oil & Gas
MEA Data Diode Security Products Market - By Country
Rest of MEA
MEA Data Diode Security Products Market - Company Profiles
Fox-IT Holding B.V.
Rohde & Schwarz GmbH & Co.
VADO Security Technologies Ltd.
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA data diode security products market .
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the MEA data diode security products market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the data diode security products market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution