The security and risk management in the Middle East and North Africa (MENA) region is forecasted to touch $3.3 billion in 2024. This would project an increase of 12.1 per cent from last year, stated a recent forecast report from Gartner.
Shailendra Upadhyay, Senior Research Principal at Gartner stated the growth of Generative AI (GenAI), is expanding the threat landscape. He stated this has also opened an evolving regulatory landscape, and the growing frequency of cyberattacks are prompting SRM leaders to increase their spending on security measures.
“Organizations are also strategically improving their defenses by adopting advanced technologies and security solutions which enable them to proactively identify potential vulnerabilities or malicious activities across various digital platforms,” said Upadhyay.
The analysts at Gartner are discussing ways to enhance the flexibility and responsiveness of SRM techniques and technology.
In 2024, spending on data privacy in MENA is projected to record the highest growth rate of all segments, increasing 24 per cent year-over-year.
