Rising cyber crime and AI-powered threats are compelling a global increase in security spending, which is projected to grow by 12.2% to reach $377 billion by 2028. The U.S. and Europe will account for 70% of this expenditure while other regions, notably Latin America and the Middle East, are also seeing growth. Critical sectors like banking, government, and healthcare will lead spending, particularly in the Middle East, where strong investments are made to fortify cybersecurity through education and training.
Growing digital transformation and hiking emerging technology adoption across the Middle East & Africa (MEA) region - especially countries in the Gulf Cooperation Council (GCC) - have pushed the demand significantly for security solutions to face the evolving threat landscapes.
The protection from cyber threats - now enhanced by AI and GenAI - is becoming an increasingly strategic issue for organizations in all industries.
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