Boost in Government Spending on Cybersecurity Solution to Upsurge the Oman Managed Security market

The rising trend of bring-your-own-device (BYOD), burgeoning use of automation, along with boost in government spending on cybersecurity solution and surging government inclination toward digital economy are the factors projected to accelerate the growth of the **Oman Managed Security market**. Besides this, increasing cloud-based deployment among SMEs due to lower upfront cost, escalating government investment in ICT, increase in the use of internet banking and mounting demand for enterprise security solution are the factors expected to place a positive impact toward the growth of the market in the forthcoming period.

Based on Deployment Model, the adoption of cloud technology across various industries has propelled the demand the managed security at a sturdy rate. The growth is attributed to paradigm shifts of the SMEs towards cloud for online storage, escalating use of advance technologies such as IoT, AI and proliferating penetration of smartphone and introduction of launch of security-as-a-service based solution offerings for small and medium enterprises.

Based on Service provider, IT Service Provider segment acquired the majority market share owing to perennial technological advancement among end-user propelling the risk of cyberattack at a high rate. Moreover, the augmenting demand for advanced threat protection and surging investment in ICT are strongly contributing to the growth of the market in the forecast period.

Based on End-user, BFSI exhibit fastest growth rate in the forthcoming period owing to soaring demand for cybersecurity solutions at the highest rate on account of surging inclination toward digital privacy system due to digital transformation of BFSI.

The key players with a considerable market share in the Oman Managed Security market are BT Group, CloudAcropolis, Mazoon, Fortinet, Wipro, Secureworks, IBM, Cisco, Paladion Network, Intel etc.

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