GEC NEWS WIREHelp AG has unveiled the 2024 edition of its annual State of the Market Report, exclusively focusing on the Gulf Cooperation Council (GCC). This report stands as the definitive guidebook on cybersecurity in the region.
For the fourth consecutive year, Help AG’s State of the Market Report delivers unmatched insights into cybersecurity threats, trends, and emerging technologies and practices over the past year, providing a detailed analysis of threat tactics, high-profile breaches, and best practice recommendations from the perspective of Help AG, strategic partners, and leading organizations in the UAE and KSA.
Additionally, the report highlights investment trends and offers focused insights into key markets including the United Arab Emirates and Saudi Arabia, making it an essential resource for anyone involved in the regional cybersecurity landscape.
KEY INVESTMENT TRENDS
The report highlights cybersecurity investment patterns and trends in the GCC, identifying top investment areas and market directions.
Most notably, in 2023, Help AG recorded a continued and accelerated trend in cyber defense investments amid the continuing digital transformation surge. Additionally, there has been a marked acceleration in the consolidation of cybersecurity spending, increasing by over 100% in the past year. This trend is strongly linked to the growth of the services business, as customers are increasingly inclined to consume cybersecurity as a service, demanding clear deliverables, service level agreements (SLAs), key performance indicators (KPIs), and transparent costs.
Investment in managed cyber defense skyrocketed, prompted by the increasing complexity of the digital threat landscape. Associated services, such as network detection and response, endpoint detection and response, threat intelligence, digital risk protection, and incident response services, all witnessed increased investment. This trend suggests that organizations are prioritizing comprehensive threat management and protection measures, highlighting an increased awareness and proactive approach to cybersecurity threats.
Cloud services have become the preferred choice for many organizations, with a clear shift towards “Everything as a Service” (EaaS). This transition, encompassing major digital transformation initiatives and endpoint security, reflects the broader adoption of cloud technologies, which are poised to dominate the cybersecurity landscape.
Similarly, cybersecurity advisory saw a 100+% growth in investments, spurred by growing regulatory compliance requirements, indicating an increasing reliance on expert guidance to navigate these challenges.
Help AG also observed a growth in Secure Services Edge (SSE) and Distributed Denial of Service (DDoS) protection services, addressing the need for secure connectivity and uninterrupted service availability.
Moreover, Help AG continues to prioritize investment in people, processes, and technology to ensure robust support for clients and guarantee cyber resilience. As part of this strategy, they have launched the largest cyber defense center in the region in the UAE and expanded their existing center in Riyadh.
Stephan Berner, Chief Executive Officer at Help AG, said, “In an era where the threat landscape is constantly evolving, organizations must harness the power of “Intelligence Amplified” to stay ahead. In Help AG’s State of the Market Report, we recognize that while AI-driven technology is crucial, it is the talent and culture within an organization that truly set it apart. By fostering an environment where talent is nurtured and valued, organizations can leverage their unique human capital to create resilient, adaptive defenses against cyber threats.”
Nicolai Solling, Chief Technology Officer at Help AG, said, “As part of the Help AG Cybersphere Nexus – our strategic approach to securing AI-driven defense mechanisms, advancing post-quantum cybersecurity, and championing sustainable practices – the State of the Market Report serves as a reference for organizations to address emerging threats while maintaining a focus on innovation, environmental and operational sustainability in cybersecurity practices.
