Market Insights & Analysis: Middle East and North Africa Cloud Storage Market (2023-28)
Projected Growth: The Middle East and North Africa Cloud Storage Market is projected to grow at a 18% CAGR during the forecast period, i.e., 2023-28.
In-Depth Overview of the Middle East and North Africa Cloud Storage Market
Utilizing both primary and secondary research methodologies, the Middle East and North Africa Cloud Storage Market report offers an in-depth analysis valuable for stakeholders and investors seeking market insights. This report delves into market dynamics, providing a detailed examination of regional trends and developments.
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The Middle East and North Africa Cloud Storage Market Challenge: Data Privacy and Security Concerns restricting its Adoption
The evolving landscape of cybersecurity threats, including ransomware, phishing, and other malicious activities, undermines confidence in cloud storage. Concerns about the ability to protect data from these threats lead organizations to hesitate when considering cloud storage options. Moreover, the MEA region has seen a significant increase in data breach cases. These breaches can lead to the exposure of sensitive and confidential information, which is a major concern for businesses and individuals alike. The Middle East and Africa Business for Group-IB reported that there has been a substantial rise in ransomware attacks in 2021, with at least 50 organizations falling victim to such attacks, representing an 85% increase from the previous year. Along with this, phishing also remains a prevalent cybersecurity threat in the MENA region. Cybercriminals use phishing techniques to trick individuals and employees into revealing sensitive information such as login credentials and financial data.
Cloud storage accounts are often targeted in phishing attacks, leading to unauthorized access and data breaches. Hence, data privacy and security concerns, driven by the rising number of data breaches and phishing activities in the MENA region, are significant barriers to the growth of the Middle East North Africa Cloud Storage Market.
Middle East and North Africa Cloud Storage Market Segmentation
By Component
-Solution
--File Storage
--Object Storage
--Block Storage
-Services
--Consulting
--Integration & Implementation
--Training, Support & Maintenance
By Deployment
-Public Cloud
-Private Cloud
-Hybrid Cloud
By Demand Type
-Business-to-Business (B2B)
-Business-to-Consumer (B2C)
- B2B cloud storage solutions experience high demand in MENA due to the region's growing business and enterprise sectors. Companies such as Carrier, Abu Dhabi Bank, etc., are widely adopting cloud storage solutions.
By Enterprise Size
-Small & Medium Enterprises
-Large Enterprises
By End User
-BFSI
-Consumer Goods & Retail
-Healthcare & Life Sciences
-IT & Telecom
-Energy & Utility
-Others (Automotive, Media & Entertainment, etc.)
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Leading Companies in the Middle East and North Africa Cloud Storage Market
The report features major players including:
Microsoft Corporation, Google LLC, Oracle Corporation, Amazon Web Services, Inc., The International Business Machines Corporation [IBM], Alibaba Cloud, SAP MENA LLC, Etisalat, STC Cloud, Cisco Systems Inc., Others
Regional Analysis
The report covers a comprehensive analysis of the Middle East and North Africa Cloud Storage Market across various regions:
- Saudi Arabia
- The UAE
- Qatar
- Egypt
- Israel
- Algeria
- Rest of the Middle East and North Africa
The research highlights development opportunities and challenges in these regions, encompassing sales growth, product pricing and analysis, growth potential, and strategic recommendations for addressing market challenges.
Essential Questions Addressed in the Middle East and North Africa Cloud Storage Market Report
- Who are the major players in the Middle East and North Africa Cloud Storage Market?
- Which region presents the most potential for the Middle East and North Africa Cloud Storage Market?
- Which application area of the Middle East and North Africa Cloud Storage Market is anticipated to grow significantly in the coming years?
- What opportunities exist for new market entrants?
- What is the projected market size for the Middle East and North Africa Cloud Storage Market by the end of the forecast period?
- What are the growth prospects for the Middle East and North Africa Cloud Storage Market?
- What is the base year considered in this market report?
- Which region holds the largest market share in the Middle East and North Africa Cloud Storage Market?
- What factors are expected to drive the growth of the Middle East and North Africa Cloud Storage Market?
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