IDC says Middle East IT security market is booming

We have for quite some time highlighted the growing security market in the Middle East. Not only do most countries in the region have significant problems with terrorists, but a number of them have over the past few decades become major centers of international commerce and banking. The popularity of biometric ID cards, such as those being rolled out in Dubai, is just one example. A new report by market analyst IDC shows that the IT security market is booming as well, with the Middle East now second in worldwide spending in the sector (the Americas are first). In 2005, the region spent $4.7 billion, a 15.6% increase over the previous year, and growth to $9.3 billion by 2009 is expected.

Drilling down to the details: According to IDC forecasts, the threat management security appliance market will increase at a compound annual growth rate of almost fifteen percent through 2009 — a total market greater than $5 billion. IDC also believes the revenue generated by the sale of unified threat management security appliances over that time period will exceed that of standard firewall/Virtual Private Networks (VPNs). Eighty percent of all network security solutions, IDC predicts, will be delivered via a dedicated appliance by 2007.

With this in mind, the GITEX 2006 IT security conference is set for 18-22 November in Dubai. Helal Saeed Al Marri of the Dubai World Trade Centre said:Having emerged rapidly, the Middle East, especially UAE has been an eager adopter of the latest in technology especially IT security technologies and products. Companies have been actively incorporating security mechanisms across their enterprise and GITEX 2006 will help to speed up the pace of investments and also create a platform for visitors from other Middle East countries to take advantage of the technology spread available.

-read more in this conference news release