The Middle East, led by the UAE, spent US$4.718 billion, a 15.6 per cent rate of increase, which placed the region in second place worldwide in e-security services spending in 2005. This is according to a report published by International Data Corporation (IDC), that expects this figure to reach US$ 5.620 billion in 2006 and US$ 9.338 billion in 2009, with a compound annual growth rate (CAGR) of 18.6 per cent. The report showed that the Americas region tops the list with US$ 8.065 billion reported in 2005 and 19.6 percent CAGR until year 2009.
Analyzing the causes behind the high spend in the Middle East, Henri J Kassab, managing director of LP Global Solutions FZ LLC (LPGS) said: “Having emerged rapidly, the Middle East, especially the Gulf Cooperation Council countries (GCC) have eagerly adopted the latest in technology and have been able to incorporate security mechanisms across integrated platforms for running Internet applications. Whereas, the USA, Europe and parts of Asia had to add on security technologies that matched their existing applications rendering their spend slower and more controlled.”
LPGS is a leading information security, telecommunications, technology, engineering and systems integration services solution provider headquartered in Dubai.
Kassab, who recently joined LPGS after holding the position of senior director of Verizon Business, a subsidiary of Verizon, the largest Telecom in the US, continued: “Due to the entrepreneurial spirit, knowledgeable workforce and responsible government, the UAE has led the region in adopting technology security and Internet applications.”
In December 2005, LPGS announced its first partnership in the Middle East with SafeNet Inc, a leading provider of network and information security products and solutions. LPGS offers a wide range of products including encryption solutions, biometric authentication systems, high-availability VPNs, site control devices to cryptographic techniques and ID-card systems.
