Latin America Security Market Size & Outlook, 2023-2030
Latin America security market, 2017-2030 (US$M)
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Latin America security market highlights
- The Latin America security market generated a revenue of USD 8,318.0 million in 2023.
- The market is expected to grow at a CAGR of 8.9% from 2024 to 2030.
- In terms of segment, system was the largest revenue generating component in 2023.
- Service 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 8,318.0 million |
| Market revenue in 2030 | USD 15,156.1 million |
| Growth rate | 8.9% (CAGR from 2023 to 2030) |
| Largest segment | System |
| Fastest growing segment | Service |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | System, Service |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.3% of the global security market in 2023.
- Globally, Asia Pacific 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 79,030.8 million by 2030.
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Security Market Scope
Security Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America 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 security market will help companies and investors design strategic landscapes.
System was the largest segment with a revenue share of 81.86% in 2023. Horizon Databook has segmented the Latin America security market based on system, service covering the revenue growth of each sub-segment from 2017 to 2030.
Prominent use of Intrusion detection systems in Latin America is augmenting the market growth. The growth of this market is driven by factors such as increasing cybercrime, rising awareness of cybersecurity, and government initiatives toward strengthening cybersecurity in the region.
Prominent adoption of Managed Security Services (MSS) in Brazil, which refers to outsourced cybersecurity services provided by specialized companies to help organizations protect their digital assets and mitigate security risks, is augmenting the market growth in this region.
This increased adoption is due to MSS providers in Brazil offering a range of services, including threat monitoring, incident response, vulnerability management, and security assessment.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America security market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America security market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America security market size, by country, 2017-2030 (US$M)
Latin America Security Market Outlook Share, 2023 & 2030 (US$M)
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