Latin America Cyber Security Market is Expected to Reach $11 Billion in 2019

New Report by MicroMarket Monitor - Latin America Cyber Security report defines and segments the cyber security solutions and services market in Latin America with analysis and forecast of revenue. This market is estimated to grow from around $5.29 billion in 2014 to$11.91 billion by 2019, at a CAGR of 17.6% from 2014 to 2019.


Cyber security is a broad collection of technologies, solutions, services, compliances, and risk management approaches to protect an organizations’ and users’ personal and professional data from cyber crimes. The government, public utilities, and enterprises are all dependent on the internet,

wireless technologies, and cloud-based services. Due to this dependency, cyber attacks have shown exponential increase in the past few years and have generated the need for unified cyber security solutions to support the enhanced enterprise mobility and strict data disclosure laws. Cyber security products are defined by possessing the capability to provide access management, authentication procedures, detection and responses to incidents, security updates or patch management, data recovery, mitigation of impacts, and risk & compliance management. The cyber security market is experiencing a booming phase because of the need for global cyber security capacity establishment built for a secure and resilient cyberspace.

The Latin American region has a high percentage of cyber crimes such as banking fraud and thefts, DoS attack, phishing scams, spam, and so on, impacting the national critical infrastructure. Several countries in the region are coming up with self protective initiatives against cyber threats. Countries such as Brazil, Chile, Colombia, Ecuador, and Peru have taken up cyber security as a political agenda and hence, security organizations are under soaring pressure to diversify their portfolios. Legal frameworks, infrastructure protection protocols, and best industry practices are the defining trends of the market and these factors are increasing the potential for domestic and foreign industries to expand in the Latin American cyber security market.

The report further provides competitive benchmarking of the leading players in the industry such as Cisco Systems, IBM, Northrop Grumman, CSC, and Symantec, among others, in terms of their product offerings, key strategies, and operational parameters. The report provides market trends, overall adoption scenarios, competitive landscapes, key drivers, restraints, and opportunities in this market. The report aims in estimating the current size and the future growth potential of this market across the different types, verticals, and countries.

Latin American countries such as Brazil, Chile, Colombia, Ecuador, and Peru are taking security as a political agenda and hence, security forces are under soaring pressure to diversify the security portfolio. Moreover, legal frameworks, infrastructure protection protocols, and best industry practices are defining trends are significantly opening doors for domestic and foreign industries to explore opportunities in the Latin American cyber security market. Brazil is the biggest market in Latin America, and as of 2014, contributed a major share of around 60.6% to the market in this region.

This market is segmented and forecasted on the basis of solutions and services of cyber security, such as identity and access management, risk and compliance management, encryption, data loss protection, unified threat management, firewall, antivirus and antimalware, IDS/IPS, security and vulnerability management, disaster recovery, DDOS mitigation, web filtering, and others. Services include consulting, design and integration, risk and threat assessment, managed security service, and training and education. The market is further segmented and forecasted on the basis of major countries, such as Brazil and others.