Latin America Cyber Security Market Size & Outlook
Latin America cyber security market, 2018-2030 (US$M)
Related Markets
Latin America cyber security market highlights
- The Latin America cyber security market generated a revenue of USD 24,543.8 million in 2023.
- The market is expected to grow at a CAGR of 13.3% from 2024 to 2030.
- In terms of segment, services was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 24,543.8 million |
| Market revenue in 2030 | USD 58,764.0 million |
| Growth rate | 13.3% (CAGR from 2023 to 2030) |
| Largest segment | Services |
| Fastest growing segment | Services |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 11.0% of the global cyber security market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 123,114.8 million by 2030.
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Cyber Security Market Scope
Cyber Security Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America 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 52.75% in 2023. Horizon Databook has segmented the Latin America cyber security market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of the Latin American cyber security market can be attributed to the growing volumes of content being created and consumed over the internet, the rapid digital transformation, and the aggressive use of AI and machine learning in cyber security applications.
Major reasons responsible for the increase in cyberattacks in these countries include the lack of public awareness related to cyber threats, inadequate coordination between public and private industries, and the presence of very few coordinated defense mechanisms.
Many Latin American countries are building Computer Security Incident Response Teams (CSIRTs) and Cyber Emergency Response Teams (CERTs) to counterfeit the rising cyberattacks. Moreover, several countries are adopting national strategies on cyber security to improve public awareness.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America cyber security market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America cyber security market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America cyber security market size, by country, 2018-2030 (US$M)
Latin America Cyber Security Market Outlook Share, 2023 & 2030 (US$M)
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