Iraq Cyber Security Market – Industry Trends and Forecast to 2029

Iraq Cyber Security Market Analysis and Insights

Cyber security protects internet-connected systems such as hardware, software and data from cyber threats and breaches. Increased cloud services cyber security solutions and the advent of remote working culture are driving the market. However, the rise in cyber security threats and ransomware in cyber security solutions may restrain the growth.

The demand for cyber security is growing and will also grow in the future. Data Bridge Market Research analyses that the Iraq cyber security market will grow at a CAGR of 6.3% from 2022 to 2029.

Market Definition

Cyber security protects internet-connected systems such as hardware, software and data from cyber threats and breaches. Individuals and enterprises use the practice to protect against unauthorized access to data centres and other intelligent systems. A successful cybersecurity approach has multiple layers of protection spread across the computers, networks, programs, or data one intends to keep safe.

Iraq Cyber Security Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail below:

Drivers

• Advent of Remote Working Culture

Remote work is rising due to the recent pandemic where employees were forced to work remotely at their respective locations. A few decades ago, the ability to work outside a corporate office wasn't considered feasible as it was assumed to be less efficient. Working remotely is only now becoming mainstream due to technological advancements such as strong internet connectivity, which could base solutions and others. 

• Increase in Cloud Services Cyber and Physical Security Solutions

Cloud technology is a vital online technology that is used all around the globe. Cloud technology enables users to access storage, files, software and servers using internet-connected devices. It also means or signifies having the ability to store and access data and programs over the internet. Unlike traditional hardware and software methods, cloud technologies can help businesses to stay forefront of technology without spending heavily on traditional methods.

Opportunity

• Rise in Strategic Partnership and Acquisition Among Organizations for Physical and Cyber Security System

Coordinating and investing in projects is essential for achieving sustained improvements in the physical and cyber security market. Due to this, the government and other private organizations are striving through partnerships and acquisitions, thereby accelerating the growth of the industries. This helps to build awareness and profit for the organization, thereby creating scope for a new invention in the industry. Also, through partnerships, the company can invest more in advanced technologies to provide a more secure and reliable physical and cyber security market) services and solutions.

Restraint/Challenge

• Rise in Cyber Security Threat and Ransomware in Physical and Cyber Security Solutions

Due to COVID-19, cybercrime and cybersecurity issues increased by 600% in 2020. Flaws in network security are a weakness that hackers exploit to perform unauthorized actions within a system. According to Purple Sec L.L.C., in 2018, mobile malware variants for mobile have increased by 54% 2018, out of which 98% of mobile malware target Android devices. 25% of businesses are estimated to have been victims of crypto-jacking. Various companies also include the security industry. 

Covid-19 Impact on Iraq Cyber Security Market

COVID-19 has positively affected the Iraq cyber security market. Due to COVID-19, cybercrime and cybersecurity issues increased by 600% in 2020. Flaws in network security are a weakness that hackers exploit to perform unauthorized actions within a system. According to Purple Sec L.L.C., in 2018, mobile malware variants for mobile have increased by 54% 2018, out of which 98% of mobile malware target Android devices. 25% of businesses are estimated to have been victims of crypto-jacking. Various companies also include the security industry.

Recent Development

• In August 2022, Fortinet, Inc. announced a partnership with Comcast Business to deliver enterprises a new set of secure access service edge (SASE) and security service edge (S.S.E.) solutions to help enterprises protect their distributed workforces
• In May 2022, Cisco Systems, Inc. launched an advanced cybersecurity assessment tool. The main objective behind the launching of the solutions was to enable small and medium-sized businesses (SMBs) to understand their overall security posture better

Iraq Cyber Security Market Scope

The cyber security market is segmented on the basis of the offering, application, security type, deployment model, enterprise size and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Offering

• Services
• Solutions/software

On the basis of offering, Egypt cyber security market is segmented into services and solutions/software.

Application

• Identity and access management
• Data security and privacy service offering
• Governance risk and compliance
• Unified vulnerability management service offering
• Others

On the basis of application, Egypt cyber security market is segmented into identity and access management, data security and privacy service offering, governance risk and compliance, unified vulnerability management service offering and others.

Security Type

• Infrastructure security
• Network security
• Application security
• Cloud security
• Endpoint security
• Others

On the basis of security type, Egypt cyber security market is segmented into infrastructure security, network security, application security, cloud security, endpoint security and others.

Deployment Model

• Cloud
• On-premise

On the basis of deployment model, Egypt cyber security market is segmented into cloud and on-premise.

Enterprise Size

• Large sized enterprises
• Small and medium-sized enterprises

On the basis of Enterprise Size, Egypt cyber security market is segmented into large sized enterprises and small and medium-sized enterprises

End User

• Industrial
• Commercial
• Government
• Residential

On the basis of deployment model, Egypt cyber security market is segmented into industrial, commercial, government and residential.

Iraq Cyber Security Market Regional Analysis/Insights

Iraq cyber security market is analysed and market size insights and trends are provided by country, offering, application, security type, deployment model, enterprise size and end user.

The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that affects the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the significant pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to substantial or scarce competition from local and domestic brands impact sales channels while providing a forecast analysis of the country data.

Competitive Landscape and Iraq Cyber Security Market Share Analysis

The Iraq cyber security market competitive landscape provides details about a competitor. Components included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus on Iraq cyber security market.

Some of the major key players in the Iraq cyber security market are BAE Systems, Microsoft, McAfee, LLC, Thales, Rapid7, Trend Micro Incorporated, Accenture, Cisco Systems, Inc., IBM Corporation, Oracle, Splunk Inc., Check Point Software Technologies Ltd., Palo Alto Networks, Fortinet, Inc., Juniper Networks, Inc., Micro Focus and Johnson Controls among others.

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