Market by Component, Deployment Mode, Enterprise Type, Encryption Type, and Country Outlook | Forecast 2022-2028
Triton’s estimates suggest
that the bank encryption software market in the Middle East and Africa is set
to witness a CAGR of 13.59% during
the forecasting years 2022-2028.
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The
countries considered in the region comprise:
•
United Arab Emirates
•
Saudi Arabia
•
Turkey
•
South Africa
•
Rest of Middle East & Africa
In
the region, Saudi Arabia captures the majority of the market share. The developing business sector in the region
is supporting banks to grow and expand operations across major countries.
Moreover, the surge in online transactions has fueled the financial sector.
This has ultimately increased the threat of cyberattacks, compromising
financial data. Encryption software has thus become an integral part of the
banking system. Furthermore, the tourism sector has increased the flow of
income, increasing international transactions. The growing BFSI sector
highlights the need for high security for banks and businesses. Thus, these
factors provide a lucrative market for bank encryption software.
The Saudi Arabian Monetary Authority (SAMA)
introduced a cyber security framework to guide companies in protecting
information assets and online services. SAMA is responsible for regulating all
financial institutes in the country. The digital society has high expectations
such as better customer experience, continuous availability of services, and
protection of sensitive information. Since online services are significant for
the economy, the need for high-level security has taken precedence. Hence, the
development of the digital economy is anticipated to widen the scope and growth
of the bank encryption software market.
In the UAE, government policymakers are focused
on strengthening digital identities and online authentication. Moreover, the
regulators ensure the protection of digital payments and currencies. The
country also introduced a new law that facilitates all electronic transactions.
This rise in digital payments influences the adoption of encryption software,
driving the studied market’s growth.
Small and medium-sized enterprises that collect
personally identifiable information such as birthdates, social security
numbers, and financial information must secure that information. An
organization can face legal prosecution if computers containing PII are stolen.
Hence, SMEs employ encryption software to ensure security from cyberattacks and
breaches. The market’s growth is assessed
based on enterprise type, component, encryption type, and deployment mode.
The enterprise type is divided into small and medium and large enterprises.
The
well-known companies in the market include Trend Micro Inc, IBM, McAfee Corp,
Thales Group, and Dell Technologies Inc.
IBM is a growing AI and IoT solution-based
company. It offers products and services across multiple industries, including
automotive, healthcare, aerospace, and chemicals. The company operates through
business segments, namely, cloud and cognitive software, technology services,
system, business services, and financing. The global business services offer
consulting services, delivery system integration, support services, and others.
The global financing segment provides lease, installment payment plans,
remarketing, and loan financing services. IBM serves clients across various
regions, including the Middle East and Africa.
Key deliverables of the report:
●
Market CAGR during the forecasting years 2022-2028
●
Detailed data highlighting key insights, industry components, and
market strategies
● Comprehensive information and estimation of the bank encryption
software market revenue growth in the Middle East and Africa and its influence
on the parent market
●
In-depth study of forthcoming trends in consumer behavioral
patterns
●
A meticulous analysis of the competitive landscape, vendor
scorecard, and Porter’s Five Forces
● A wide-ranging study of factors that will challenge the MEA bank
encryption software market’s growth during the upcoming years
Want to get specific insights? Our team of
analysts can customize this report based on your preferences. Connect with us here.
Market by Technology (Data ana ..
VIEW REPORT1. MIDDLE
EAST AND AFRICA BANK ENCRYPTION SOFTWARE MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
OF COVID-19 ON BANK ENCRYPTION SOFTWARE MARKET
2.2. KEY
INSIGHTS
2.2.1. RISE
OF FINTECH ORGANIZATIONS IN MAINSTREAM BANKING AND THE FINANCIAL SECTOR
2.2.2. EMERGENCE
OF SOFTWARE SECURITY INFRASTRUCTURE
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTES
2.3.3. BARGAINING
POWER OF BUYERS
2.3.4. BARGAINING
POWER OF SUPPLIERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. KEY
IMPACT ANALYSIS
2.4.1. RELIABILITY
2.4.2. APPLICATION
2.4.3. SUPERIOR
TECHNOLOGY
2.5. MARKET
ATTRACTIVENESS INDEX
2.6. VENDOR
SCORECARD
2.7. INDUSTRY
COMPONENTS
2.8. REGULATORY
FRAMEWORK
2.9. KEY
MARKET STRATEGIES
2.9.1. ACQUISITIONS
2.9.2. PRODUCT
LAUNCHES
2.9.3. AGREEMENTS
2.9.4. BUSINESS
EXPANSIONS
2.10. MARKET
DRIVERS
2.10.1. GROWING
CYBERATTACKS ON BANKS AND FINANCIAL INSTITUTIONS
2.10.2. SURGE
IN DEMAND FOR DATA SECURITY TECHNOLOGY
2.10.3. INCREASING
DATA PROLIFERATION
2.11. MARKET
CHALLENGES
2.11.1. LACK
OF AWARENESS REGARDING ENCRYPTION SOFTWARE
2.11.2. IMPLEMENTATION
CHALLENGES
2.11.3. COMPROMISED
SOFTWARE INTEGRITY IN ENCRYPTED DATA SECURITY
2.12. MARKET
OPPORTUNITIES
2.12.1. PENETRATION
OF BANKING SOFTWARE GLOBALLY
2.12.2. RISING
USE OF DIGITAL PAYMENT TECHNOLOGY
2.12.3. INCREASED
ACCEPTANCE OF MOBILE PAYMENT SERVICES
3. MIDDLE
EAST AND AFRICA BANK ENCRYPTION SOFTWARE MARKET OUTLOOK - BY COMPONENT
3.1. SOFTWARE
3.2. SERVICES
4. MIDDLE
EAST AND AFRICA BANK ENCRYPTION SOFTWARE MARKET OUTLOOK - BY DEPLOYMENT MODE
4.1. ON-PREMISE
4.2. CLOUD
5. MIDDLE
EAST AND AFRICA BANK ENCRYPTION SOFTWARE MARKET OUTLOOK - BY ENTERPRISE TYPE
5.1. LARGE
ENTERPRISES
5.2. SMALL
& MEDIUM ENTERPRISES
6. MIDDLE
EAST AND AFRICA BANK ENCRYPTION SOFTWARE MARKET OUTLOOK - BY ENCRYPTION TYPE
6.1. DISK
ENCRYPTION
6.2. COMMUNICATION
ENCRYPTION
6.3. FILE/FOLDER
ENCRYPTION
6.4. CLOUD
ENCRYPTION
7. MIDDLE
EAST AND AFRICA BANK ENCRYPTION SOFTWARE MARKET – COUNTRY OUTLOOK
7.1. UNITED
ARAB EMIRATES
7.2. SAUDI
ARABIA
7.3. TURKEY
7.4. SOUTH
AFRICA
7.5. REST
OF MIDDLE EAST & AFRICA
8. COMPETITIVE
LANDSCAPE
8.1. MICROSOFT
CORP
8.2. IBM
8.3. BROADCOM
INC
8.4. MCAFEE
CORP
8.5. THALES
GROUP
8.6. DELL
TECHNOLOGIES INC
8.7. ESET
8.8. TREND
MICRO INC
8.9. INTEL
CORP
8.10. WINMAGIC
DATA SECURITY SOLUTION
8.11. BITDEFENDER
PVT
8.12. LOOKOUT
SECURITY
8.13. NETSKOPE
INC
8.14. PROTEGRITY
PVT LTD
9. RESEARCH
METHODOLOGY & SCOPE
9.1. RESEARCH
SCOPE & DELIVERABLES
9.2. SOURCES
OF DATA
9.3. RESEARCH
METHODOLOGY
TABLE 1: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
TABLE 2: VENDOR
SCORECARD
TABLE 3: REGULATORY
FRAMEWORK
TABLE 4: LIST OF
ACQUISITIONS
TABLE 5: LIST OF
PRODUCT LAUNCHES
TABLE 6: LIST OF PARTNERSHIPS
& AGREEMENTS
TABLE 7: LIST OF
BUSINESS EXPANSIONS
TABLE 8: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE 9: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, BY DEPLOYMENT MODE, 2022-2028 (IN $
MILLION)
TABLE 10: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, BY ENTERPRISE TYPE, 2022-2028 (IN $
MILLION)
TABLE 11: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, BY ENCRYPTION TYPE, 2022-2028 (IN $
MILLION)
TABLE 12: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
FIGURE 1: KEY BUYING
IMPACT ANALYSIS
FIGURE 2: MARKET
ATTRACTIVENESS INDEX
FIGURE 3: INDUSTRY
COMPONENTS
FIGURE 4: WORKING OF
SECURITY ENCRYPTION MODEL
FIGURE 5: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, COMPONENT OUTLOOK, 2021 & 2028 (IN
%)
FIGURE 6: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, BY SOFTWARE, 2022-2028 (IN $ MILLION)
FIGURE 7: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, BY SERVICES, 2022-2028 (IN $ MILLION)
FIGURE 8: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, DEPLOYMENT MODE OUTLOOK, 2021 &
2028 (IN %)
FIGURE 9: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, BY ON-PREMISE, 2022-2028 (IN $ MILLION)
FIGURE 10: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, BY CLOUD, 2022-2028 (IN $ MILLION)
FIGURE 11: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, ENTERPRISE TYPE OUTLOOK, 2021 &
2028 (IN %)
FIGURE 12: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, BY LARGE ENTERPRISES, 2022-2028 (IN $
MILLION)
FIGURE 13: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, BY SMALL & MEDIUM ENTERPRISES,
2022-2028 (IN $ MILLION)
FIGURE 14: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, ENCRYPTION TYPE OUTLOOK, 2021 &
2028 (IN %)
FIGURE 15: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, BY DISK ENCRYPTION, 2022-2028 (IN $
MILLION)
FIGURE 16: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, BY COMMUNICATION ENCRYPTION, 2022-2028
(IN $ MILLION)
FIGURE 17: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, BY FILE/FOLDER ENCRYPTION, 2022-2028
(IN $ MILLION)
FIGURE 18: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, BY CLOUD ENCRYPTION, 2022-2028 (IN $
MILLION)
FIGURE 19: MIDDLE EAST AND
AFRICA BANK ENCRYPTION SOFTWARE MARKET, REGIONAL OUTLOOK, 2021 & 2028 (IN
%)
FIGURE 20: UNITED ARAB
EMIRATES BANK ENCRYPTION SOFTWARE MARKET 2022-2028 (IN $ MILLION)
FIGURE 21: SAUDI ARABIA
BANK ENCRYPTION SOFTWARE MARKET 2022-2028 (IN $ MILLION)
FIGURE 22: TURKEY BANK
ENCRYPTION SOFTWARE MARKET 2022-2028 (IN $ MILLION)
FIGURE 23: SOUTH AFRICA
BANK ENCRYPTION SOFTWARE MARKET 2022-2028 (IN $ MILLION)
FIGURE 24: REST OF
MIDDLE EAST & AFRICA BANK ENCRYPTION SOFTWARE MARKET 2022-2028 (IN $
MILLION)