Canada Cyber Security Market Size & Outlook, 2023-2030
Canada cyber security market, 2018-2030 (US$M)
Related Markets
Canada cyber security market highlights
- The Canada cyber security market generated a revenue of USD 8,989.7 million in 2023 and is expected to reach USD 21,132.7 million by 2030.
- The Canada market is expected to grow at a CAGR of 13% from 2024 to 2030.
- In terms of segment, services was the largest revenue generating component in 2023.
- Hardware is the most lucrative component segment registering the fastest growth during the forecast period.
Cyber security market data book summary
| Market revenue in 2023 | USD 8,989.7 million |
| Market revenue in 2030 | USD 21,132.7 million |
| Growth rate | 13% (CAGR from 2023 to 2030) |
| Largest segment | Services |
| Fastest growing segment | Hardware |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
| Key market players worldwide | BAE Systems PLC, Broadcom Inc, Check Point Software Technologies Ltd, Cisco Systems Inc, Fortinet Inc, International Business Machines Corp, Lockheed Martin Corp, LogRhythm, McAfee, Palo Alto Networks Inc, Proofpoint, Sophos, Trend Micro Inc |
Other key industry trends
- In terms of revenue, Canada accounted for 4.0% of the global cyber security market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. cyber security market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 21,132.7 million by 2030.
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Cyber Security Market Scope
Cyber Security Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada cyber security market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cyber security market will help companies and investors design strategic landscapes.
Services was the largest segment with a revenue share of 57.64% in 2023. Horizon Databook has segmented the Canada cyber security market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
Canada’s business sector is increasingly adopting modern digital technologies for applications such as communicating, broadcasting, and sharing business data. Furthermore, the Canadian government’s dependence on the internet for offering online services, such as employment insurance forms, tax returns, and student loan applications, has continued to increase over the years.
The government is also increasingly making efforts to secure cyberspace. For instance, it has established the Canadian Cyber Incident Response Center to monitor and mitigate cyber threats and escalate the ones having national significance to the Government Operations Center, which then coordinates a national response.
Furthermore, the larger implementation of strategies, such as Canada’s Cyber Security Strategy, is expected to increase the demand for security solutions in the country. Moreover, in June 2022, the Canadian government launched Bill C-26, an Act Respecting Cyber Security (ARCS).
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Our clientele includes a mix of cyber security market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada cyber security market , including forecasts for subscribers. This country databook contains high-level insights into Canada cyber security market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada cyber security market size, by component, 2018-2030 (US$M)
Canada Cyber Security Market Outlook Share, 2023 & 2030 (US$M)
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