South Africa Cyber Security Market Size & Outlook
South Africa cyber security market, 2018-2030 (US$M)
Related Markets
South Africa cyber security market highlights
- The South Africa cyber security market generated a revenue of USD 3,801.1 million in 2023 and is expected to reach USD 9,035.6 million by 2030.
- The South Africa market is expected to grow at a CAGR of 13.2% 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.
Cyber security market data book summary
| Market revenue in 2023 | USD 3,801.1 million |
| Market revenue in 2030 | USD 9,035.6 million |
| Growth rate | 13.2% (CAGR from 2023 to 2030) |
| Largest segment | Services |
| Fastest growing segment | Services |
| 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, South Africa accounted for 1.7% 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 Middle East & Africa, South Africa cyber security market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 9,035.6 million by 2030.
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Cyber Security Market Scope
Cyber Security Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Africa 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 50% in 2023. Horizon Databook has segmented the South Africa cyber security market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
The rapid use of digital technologies in South Africa, along with a significant focus on cloud technologies, are among the key factors expected to drive cloud-based security solutions in the country.
For instance, in October 2020, Vertiv, a provider of critical digital infrastructure solutions, announced a strategic partnership with Cyber Security South Africa, a leading cyber security technology distributor in the country, to cater to the rising need for fast-paced digital transformation and cloud migration demand among various industries.
The advent of cloud-based solutions and cloud infrastructure has offered several benefits for enterprises, including improvements in profitability, scalability, and accessibility. Cloud computing technology has redefined the way businesses operate.
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Our clientele includes a mix of cyber security market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa cyber security market , including forecasts for subscribers. This country databook contains high-level insights into South Africa cyber security market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa cyber security market size, by component, 2018-2030 (US$M)
South Africa Cyber Security Market Outlook Share, 2023 & 2030 (US$M)
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