Egypt Cybersecurity Market Size (2024 - 2029)

Egypt Cybersecurity Market Analysis

The Egypt Cybersecurity Market size is estimated at USD 220.34 million in 2024, and is expected to reach USD 395.12 million by 2029, growing at a CAGR of 12.39% during the forecast period (2024-2029).

• Enterprises are facing a growing challenge from malware and phishing, further fueled by the widespread adoption of IoT and the BYOD trend. Moreover, the market is benefiting from a heightened appetite for cloud-based cybersecurity solutions. As businesses increasingly embrace mobile applications, prioritize robust authentication, and witness a metamorphosis in the traditional antivirus sector, the market is expected to witness expansion in the coming years.
• The Egyptian government, with a particular focus on Cairo, the hub of digital activities, is prioritizing cybersecurity. The initiative, called the Egypt National Cybersecurity Strategy, aims to safeguard the nation, its infrastructure, and its citizens from cyber threats.
• The Egyptian Supreme Cybersecurity Council (ESCC), operating under the Egyptian Cabinet, has developed the National Cybersecurity Strategy for 2023-2027. This strategy primarily aims to counter the rising cyber threats from various sources. In addition, it focuses on cultivating skilled professionals and strengthening the domestic cybersecurity industry, with the objective of significantly contributing to the GDP of Egypt.
• The country is witnessing an increase in the emergence of new players in the market to offer competitive cybersecurity offerings. In August 2023, Egypt's cybersecurity startup, Buguard, secured a USD 500,000 seed funding round. The funding was spearheaded by A15, with additional contributions from angel investors. Buguard specializes in offensive security services, encompassing penetration testing, vulnerability assessment, phishing simulation, compromise assessment, threat intelligence, and red teaming.
• However, as technology and internet usage increase, the need for skilled cybersecurity professionals consistently surpasses the workforce supply, resulting in a shortage of experts equipped to combat advancing cyber threats.

Egypt Cybersecurity Industry Segmentation

Cybersecurity involves safeguarding a business's data and digital infrastructure against cyber attacks and breaches. Companies offer services aimed at shielding data and services from potential breaches. The specific protection measures employed depend on the organization's internal structure and the technologies it utilizes.

The Egyptian cybersecurity market is segmented by offering (solutions (application security, cloud security, consumer security software, data security, identity and access management, infrastructure protection, integrated risk management, network security equipment, and other solutions), services (professional services, managed services)), by deployment (cloud, on-premise), by end-user industry (IT and telecom, BFSI, retail and e-commerce, oil gas and energy, manufacturing, government and defense, and other end-user industries). The market sizes and forecasts are provided in terms of value in USD for all the above segments.