New York, Dec. 02, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Middle East & Africa (MEA) AI, Cyber Security & Big Data Analytics Market – Growth, Trends, Forecasts (2020-2025)” – https://www.reportlinker.com/p05993774/?utm_source=GNW
4%, during the period 2019-2025The adoption of advanced technology has been witnessing increasing growth in the Middle East & African countries. In the recent times, rapid digitalization in countries, like the United Arab Emirates and Saudi Arabia, has triggered a high number of connected devices in the region.
– Enterprises in the end-user industries are increasingly deploying AI to realize cost benefits, increase productivity, and improve their safety standards. Several government-driven initiatives are changing the dynamics of the industrial sector and contributing to reshaping the landscape in key economies like Saudi Arabia and UAE, and creating stronger institutional set-up and effective regulatory frameworks, to promote private sector investments.
– Various governments in the region have conducted long-term plans for using AI and ML as an economic stimulus or enhancing workforce efficiency and government structure agility. Now, AI programs are carried out with governments’ direct support, but companies in the region would have their own AI departments in the short term.
– UAE government is the first country in the Middle East region to launch its AI strategy, and the first in the world to create a Ministry of Artificial Intelligence. The government is planning to invest in AI technologies in about nine sectors.
– With COVID-19 becoming the new reality, organizations worldwide must respond proactively to cyber threats that have witnessed a spike during the pandemic. For this reason, cyber resilience, which refers to a sector or organization’s ability to prepare for, respond to, and recover from cyberattacks, has become an absolute necessity rather than a mere option in the current scenario.
Key Market Trends
Machine Learning Has Significant For AI and its Role in Driving Adoption in the MEA Region
– According to Microsoft, the most used AI technology among the surveyed companies in the Middle East and African markets is machine learning. This is due to its wide-ranging applicability, making it relevant for several use-cases across the value chain. Of the various types of machine learning, the most common is supervised machine learning, where software is fed structured data and finds patterns that can be used to understand and interpret new observations. While companies in the region have primarily used internal data for supervised machine learning, most have now begun exploring the possibility of combining internal and external datasets to produce even deeper insights.
– As consumer trends and demands in the region change rapidly, companies face challenges in creating or transforming products and services tailored to current competitive landscape needs. Executives see significant value in using complex algorithms and unsupervised machine learning to assist in analyzing the diverse data sets to create high margin services for product portfolios.
– The Middle East’s traditional business mindset has taken a significant detour from oil, retail, and property to IT and digital advancements. With the latest investments, strategies, and products in fields like IoT, cloud, and e-commerce, the Middle East nations have shown their intent to stay ahead in the game of technological advancements. They are ready to embrace developing technologies, such as machine learning by creating efficient plans and capital investments.
– Organizations in both regions focus heavily on customer relationships, evidenced through innovations like machine learning-based credit scoring, often supported by homegrown startups tailoring products to local conditions. For instance, Nigerian fintech Carbon is one company utilizing machine learning to evaluate credit applications, and MyBucks, the first African fintech to be listed on the Frankfurt Stock Exchange, uses machine learning algorithms to estimate loan repayment risk and proactively reduce the likelihood of missed payments by raising flags based on behavioral and transaction trend analysis.
Network to Witness Significant Growth Rate
– The growing penetration of IoT has resulted in a notable increase in cybercriminal activity and capability. Furthermore, wide-scale,coordinated attacks that rely on IoT to spread in company networks can result in a major disruption, known as DDoS. Thus, solutions such as threat intelligence are needed to look for and defend against adversaries proactively.
– For instance, according to Cisco Systems, in 2018, 46% of the companies suffered from cyber fatigue in MEA. The National (UAE) says, approximately 58% the share of organizations suffered a public breach, with 48% of cyber attacks resulting in damages of more than USD 500,000 in the region (MEA) in 2018.
– According to the most recent Neustar International Security Council (NISC) survey, its Security Operations Center(SOC) saw a 168% increase in distributed denial-of-service (DDoS) attacks in Q4 2019, compared with Q4 2018, and a 180 percent increase overall in 2019, as compared to 2018.
– According to a survey(which polled 150 CSOs/CISOs from different industries in the UAE) by Motivate Media Group, revealed that almost one third of respondents (29%) believed account compromise will continue to be the UAE’s biggest cyber threat over the next three years, followed by Distributed Denial of Service (DDoS) attacks (28%) and phishing (19%).
The MEA AI, Cyber Security & Big Data Analytics Market is moderately segmented with few firms having limited share . The companies keep on innovating and entering into strategic partnership in order to retain their market share.
– Oct 2020 – Cisco Systems Inc. accelerated secure cloud adoption with its new WAN Edge Platform to deliver secure and automated access to applications. Cisco Catalyst 8000 Edge Platform accelerates cloud adoption by providing businesses with flexible options for secure connectivity and visibility to applications across cloud, data center, and edge.
– May 2020 – Microsoft announces new supercomputer making new infrastructure available in Azure to train extremely large artificial intelligence models. Built in collaboration with and exclusively for OpenAI, the supercomputer hosted in Azure was designed specifically to train that company’s AI models.
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– The market estimate (ME) sheet in Excel format
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Read the full report: https://www.reportlinker.com/p05993774/?utm_source=GNW
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