Market Size of Morocco Cybersecurity Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 9.51 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Morocco Cybersecurity Market Analysis
The Morocco Cybersecurity Market is expected to register a CAGR of 9.51% during the forecast period.
- Cybersecurity in Morocco is becoming crucial with the rise of digital transformation initiatives and the country's growing internet usage, leading to increasing cyber threats. Thus, the Moroccan government has invested in cybersecurity to protect critical infrastructure. Collaboration between the government and other countries also creates opportunities for cybersecurity firms to offer advanced services and expertise.
- For instance, in October 2023, the General Directorate of Information Systems Security Administration of the National Defence of the Kingdom of Morocco and the Cyber Security Council for the United Arab Emirates announced a Memorandum of Understanding (MoU) in Dubai, marking a pivotal moment in strengthening cybersecurity cooperation. This agreement enabled both nations' dedication to jointly tackling the escalating challenges and risks in global cyberspace. The primary goal of the MoU is to establish a comprehensive collaboration framework in the cybersecurity domain between Morocco and the United Arab Emirates.
- Internet users in Morocco ranked 15th globally for online infections in the first ten months of 2023, as per a recent report by Russian cybersecurity firm Kaspersky. The report highlighted a prevalent type of malware that infiltrates a user's device and camouflages itself as a different file type, such as an image or PDF file. Thus, the rise in cyberattacks targeting both public and private sectors necessitates organizations investing in advanced security solutions to protect critical infrastructure.
- There is a lack of awareness among SMEs regarding investments in cybersecurity measures. Additionally, small players are still depending more on traditional internal security measures than on managed security services due to limited budget constraints, which is a hindrance to market growth. The lack of skilled professionals is also a challenge for the country.
- Post-COVID-19, there was a rise in cyberattacks, including phishing, ransomware, and other malicious activities, so organizations recognized the growing risks and planned to increase their cybersecurity budgets. Large organizations invested in managed cybersecurity services and ensured employees were aware of security protocols while operating in remote environments.
