Umniah Highlights Shifts in Cybersecurity Landscape During Monthly Virtual Meeting at Int@j
Amman 7th June 2021:Umniah, a subsidiary of Batelco Bahrain Group and a pioneer of cyber and managed security services (MSSP), participated in the monthly virtual meeting organized by the Information and Communications Technology Association (int@j) under the heading of “Creativity in Cyber Security.”
“Today, managed security service providers are offering innovative security services to accommodate massive changes in the landscape of cybersecurity threats,” commented Malek Al-Zewairi, supervisor of the Security Operation Center (SOC) at Umniah, who represented the company during the event. "Developments in artificial intelligence, machine learning, the Internet of Things, and other core technologies have contributed to the creation of a more complicated information technology landscape, while the escalating risks of ransomware and similar attacks demands greater scrutiny by service providers.
According to Al-Zewairi, the cyber security market witnessed a remarkable boom in the past five years, with renowned research firm Grand View Research expecting it to total $372 billion with a compound annual growth rate of 10.9 percent. The total market share of security services, such as penetration testing and consulting services, accounted for more than 50 percent of the market during 2020, while security services such as managed detection and response accounted for nearly 17 percent.
Al-Zewairi also highlighted that the COVID-19 pandemic has played an indirect role in this notable growth, with a Deloitte report noting that that phishing/scam attacks have risen by six-fold during the first quarter of 2020, accompanied by a significant rise in the use of unknown attacks including malware and coordinated attacks, up from 20 to 35 percent. These changes, he noted, are alarming, and require a concerted effort by service providers to continually adapt.
Meanwhile, the pandemic has also reinforced the importance of technology as a vital tool for overcoming seemingly impenetrable challenges, with several reports — including one by Ernst & Young — showing an additional $15 billion per week in corporate spending on core tech. Several reports the corporate spending on technology during the first wave of the Corona pandemic, increased by an additional 15 billion dollars per week. The same report noted that 55 percent of companies have considered outsourcing their cybersecurity operations following the pandemic.
Al-Zewairi also underscored Umniah’s leadership and excellence in the field of cybersecurity, noting that it was the first in the country to establish a specialized center for cybersecurity managed services, the (SOC), which leverages advanced artificial intelligence to monitor security gaps and threats and provide services tailored to suit the needs of individual organizations.
The ever-growing service suite offered by Umniah includes Distributed Denial of Service (DDoS) Protection, U-CyberScout Service, Security Information and Event Management (SIEM) Service, Web Application Firewall Service (WAF), in addition to Anti-Malware service and Penetration Testing Service, Vulnerability Management Service (VMS), and Next-Generation Firewall Service (NGFW).