Upcoming analysis from Frost & Sullivan (http://www.networksecurity.frost.com), State of Cloud Computing Security in the UAE, finds that the market earned revenues of more than $8.7 million in 2012 and estimates this to reach $72.3 million by 2019. Large enterprises are set to be the chief revenue generators for cloud security suppliers in the long run. To get more insights on Frost & Sullivan strategic recommendations for the Cloud Computing Security Market in the UAE and view a recording of the recently hosted complimentary Webinar, click here.
Although the UAE is yet to witness a shift to cloud computing, a number of benefits offered by the new model of delivering IT will eventually encourage its adoption among businesses in the country. This will boost demand for cloud security solutions, particularly in sensitive verticals such as public sector, oil and gas, and banking, financial services and insurance sectors.
“The popularity of social media and the substantial increase in social website threats, such as identity thefts, have prompted several companies to scout for security applications capable of meeting their security needs,” said Frost & Sullivan Information and Communication Technologies Research Analyst. “In fact, nearly 1.5 million victims of cybercrime in the UAE in 2011 were chiefly scammed through social networking websites; hence, the implementation of cloud security systems is expected to go up.”
The profit margins of third party security service providers are also on the rise as the lack of regulations and official standards for cloud computing compel users in the country to turn to third party solutions. On the flip side, the absence of regulations results in security issues and transparency concerns that affect consumer confidence.
Low awareness among enterprises further contributes to the challenge, and providers must educate local businesses on the benefits of cloud security services to sustain uptake. Cloud providers need to market their security capabilities, which involve physical security as well as the protection of customer data from various risks including corruption and cyber-attacks.
“To overcome security concerns at various levels, vendors in the UAE should direct their attention to the integration of robust security enforcement tools,” suggested the Analyst. “Building partnerships with key local and international cloud service providers will widen market reach.”
Due to widely spread opinion that private cloud has better security layers and latency, private cloud solutions will become the dominant cloud model in the UAE. Therefore, focus on private cloud security solutions will pay dividends for cloud solution providers.
If you are interested in more information on this research, please send an e-mail to Tanu Chopra, Corporate Communications, at email@example.com, with your full name, company name, job title, telephone number, company e-mail address, company website, city, state and country.
State of Cloud Computing Security in the UAE is part of the Network Security Technologies Growth Partnership Service program. Frost & Sullivan’s related research services include: Data Centre Market in Gulf Cooperation Council Countries, Managed Services Market in the GCC, and Telecom market in North Africa. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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State of Cloud Computing Security in the UAE