(MENAFN- Khaleej Times) The network security market in the UAE is registering strong growth and is likely to grow at a compound annual growth rate of 16.3 per cent in 2013-19, according to a study undertaken by Frost & Sullivan. In 2012, the market's size reached $233.4 million.
The cloud security market was just a fraction of the network security market and accounted for only 3.7 per cent of the UAE network security market, which is expected to reach 12.7 per cent by 2019.
Security will be a cornerstone of cloud service as 40 per cent of businesses in the UAE are likely conduct a cloud security assessment prior to transferring its infrastructure into the cloud environment.
The survey, conducted under "State of Cloud Computing Security in the UAE - Deriving the market based on end user perspective" by Marius Miginis, research analyst for Information and Communication Technologies Practice at Frost & Sullivan Middle East and North Africa, states: "In the current year, revenues of the UAE cloud security market is expected to touch $10.3 million, with a growth rate of 18.4 per cent, against $8.7 million with 16 per cent growth in 2012. The market is expected to surge to $12.9 million in revenue and growth of 25.2 per cent in 2014. The study has predicted a revenue of $72.3 million in 2019 with a growth of 45.2 per cent."
The study, which includes an end-user survey that covered businesses in Dubai and Abu Dhabi, further said: "Currently, cloud vendors are the biggest group of end-users in the UAE. As opposed to the global cloud security market, where the main users were the large enterprises, in the UAE the market users from the SMB [small and medium business] vertical are dominating over large enterprises. Until 2012, the cloud market in the UAE was still at nascent stage with a market size close to $50 million and cloud security market just a small fraction of it, generating less than $8.7 million." Frost & Sullivan identifies three main groups of security vendors in the UAE - cloud service providers, traditional security service providers and designated cloud service security providers.
Businesses in the UAE believe that the cloud vendor and cloud user are equally responsible for cloud security. There was a consensus (58.5 per cent) among the respondents that the private cloud is the most secure type of cloud environment. However, 55.1 per cent of subscribers of public cloud service believe that public cloud is more secure than other types of clouds.
Meanwhile, 55 per cent of public cloud subscribers believe that the security of cloud should be the vendors' responsibility.
There was common opinion among IT management (55.4 per cent) that the full return on investment in cloud computing comes after 12 to 24 months.
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