Spending on security and risk management in Mena forecast to total $3.3bn

Spending on security and risk management in Mena forecast to total $3.3bn

Dubai: End-user spending on security and risk management (SRM) in the Middle East and North Africa (MENA) region is forecast to total $3. 3 billion in 2024, an increase of 12. 1 per cent from 2023, according to a new forecast from Gartner, Inc. "The rapid growth of generative AI (GenAI) is expanding the threat landscape. At the same time, the evolving regulatory landscape and the alarming frequency of cyberattacks are prompting SRM leaders to increase their spending on security measures," said Shailendra Upadhyay, Senior Research Principal at Gartner. "Organisations 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." Gartner analysts are discussing ways to enhance the flexibility and responsiveness of SRM techniques and technology at the Gartner Security & Risk Management Summit, taking place in Dubai through today. In 2024, spending on data privacy in Mena is projected to record the highest growth rate of all segments, increasing 24% year-over-year. "In accordance with the European Union's General Data Protection Regulation (GDPR), the Gulf Cooperation Council (GCC) has recently implemented data protection laws for handling personal data of identifiable individuals," said