The Middle East Governments Set to Spend USD 9.5 Billion on Cyber Security By 2019

The Middle East Governments Set to Spend USD 9.5 Billion on Cyber Security By 2019

Regional governments see cyber-crime as a growing threat and together are set to invest heavily on cyber security over the next four years, according to experts.

An industry on the rise, a recent report from Pricewaterhouse Coopers indicated a staggering 42.8 million information security incidents reported globally in 2014, up 48% from the previous year.

According to a Cisco Annual Security Report, the Middle East faces increasing malware threats from cyber-attacks, particularly in the energy sector which was in the global top five most-at-risk industries for malware in 2014. The global energy sector was subject to a 300% higher malware encounter rate than the median industry. And, with the Middle East home to more than 60% of OPEC’s oil reserves, investment in cyber security is a critical issue for governments and corporations alike.

A recent MarketsandMarkets report estimates that regional governments will spend upwards of USD 9.5 billion on cyber security by 2019 as governments and enterprises collaborate to implement strict laws and regulations for securing networks.

Making its debut in the region, Infosecurity Middle East will launch during the seventh edition International Security and National Resilience (ISNR) Abu Dhabi exhibition next year. The leading international event is an offshoot event from Infosecurity Europe, Europe’s number one information security exhibition and conference for over 20 years.

We must remember the world of cyber space is constantly evolving. Continuous attacks globally and in the region on governments and businesses demand the constant development and progression of solutions and technology which are growing at staggering speed,” said Nicky Dawson, Group Exhibition Director of ISNR Abu Dhabi.

Cyber security was a key issue addressed during this year’s World Economic Forum and governments around the world, including in this region, have identified it as a threat to national security. The launch of Infosecurity Middle East brings a proven authority within the global information security industry, with more than 20 years of experience in Europe, to the rapidly growing regional market,” Dawson added.

Under the guidance and direction of the UAE’s Ministry of Interior, ISNR was established as a platform for countries from around the world to see and source the world’s very latest homeland security solutions in one place, at one time.

For the three-day March 2016 ISNR event, there will be more than 500 exhibiting companies from 45 countries showing solutions to nearly 20,000 attendees from more than 90 countries, many of whom will form country delegations of buyers.

InfoSecurity is a highly respected international brand in the information security industry and in 2016 will be a co-located exhibition with ISNR Abu Dhabi to serve regional governments, critical infrastructure, major public institutions and IT security officers with the latest trends and innovative solutions to ensure the security of business information and IT infrastructure.