MIDDLE EAST AND AFRICA BANK ENCRYPTION SOFTWARE MARKET 2022-2028

ICT | Security

MIDDLE EAST AND AFRICA BANK ENCRYPTION SOFTWARE MARKET 2022-2028

Market by Component, Deployment Mode, Enterprise Type, Encryption Type, and Country Outlook | Forecast 2022-2028

Request For Customization

Request Custom Report

Request Custom Report

Enquire before buying

Enquire Before Buying

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.


 Report scope can be customized per your requirements. Request For Customization

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

Related Reports

AFRICA MOBILE PAYMENT MARKET 2019-2027
ICT

AFRICA MOBILE PAYMENT MARKET 2019-2027

Market By Medium, Type, Applic ..

VIEW REPORT
ASIA PACIFIC BIOMETRICS MARKET 2019-2027
ICT

ASIA PACIFIC BIOMETRICS MARKET 2019-2027

Market By Type, End-users, Tec ..

VIEW REPORT
ASIA-PACIFIC 3D PRINTING MARKET 2019-2027
ICT

ASIA-PACIFIC 3D PRINTING MARKET 2019-2027

Market By Component, Technolog ..

VIEW REPORT
ASIA-PACIFIC 4D PRINTING MARKET 2019-2028
ICT

ASIA-PACIFIC 4D PRINTING MARKET 2019-2028

Market By Material, Industry V ..

VIEW REPORT

Table of Content

1. 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

List of Tables

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)

List of Figures

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)

Purchase Options

  • Licence Type
  • Price
  • User/Sharing
  • Printing
  • Delivery Formats
  • Free customization (Pre-sale)
  • Analyst hour support (Post Sale)
  • Customized notification for newly published report
  • Free report on update (within 180 days)

Single User PDF

$1,500.00

  • User/Sharing
  • Restricted to one authorized user
  • Printing
  • Not printable
  • Delivery Formats
  • Pdf
  • Free customization (Pre-sale)
  • 10% Free customization
  • Analyst hour support (Post Sale)
  • 3 hours
  • Customized notification (newly published)
  • Free report on update (within 180 days)

Enterprise Online/PDF

$2,200.00

  • User/Sharing
  • Unlimited
  • Printing
  • Unlimited
  • Delivery Formats
  • Pdf and market estimation excel
  • Free customization (Pre-sale)
  • 20% Free customization
  • Analyst hour support (Post Sale)
  • 8 hour
  • Customized notification (newly published)
  • Free report on update (within 180 days)

Request free Sample

Request Custom Report

Request Custom Report

Enquire before buying

Enquire Before Buying