MENA info security spending to reach $1.8 bn

Business Reporter -

MUSCAT, oct 16 -

Middle East and North Africa (MENA) spending on information security technology and services is on pace to reach $1.8 billion in 2017, an increase of 11 per cent over 2016, according to Gartner, Inc.

According to Sam Olyaei, senior research analyst at Gartner, security services will continue to be the fastest growing segment in line with global trends, especially IT outsourcing, consulting and implementation services. The growth for security services will be driven by ongoing skills shortages in the information security domain as well as increased awareness of threats.

In a region where the oil and gas industry is critical to many local economies converging of operational technology (OT), Internet of Things (IoT), and IT is pushing many organisations to start considering how to handle the potential new security vulnerabilities created. This will result in additional interest to invest in security products and services to mitigate these new risks that traditional information security practices are not accustomed to.

Rising awareness among chief executive officers (CEOs) and boards of directors about the business impact of security incidents, and an evolving regulatory landscape, have led to continued spending on security products and services not to mention increased accountability at the board level when it comes to security implications making metrics and executive communication a hot topic for leaders today.

“However, improving security is not just about spending on new technologies. As seen in the recent spate of global security incidents, doing the basics right has never been more important.

Organisations can improve their security posture significantly just by addressing basic security and risk related hygiene processes like patch management, regular and scalable vulnerability scanning, centralised log management, internal network segmentation, backups and system hardening.”