The Latin America, Middle East and Africa Cyber Security Services Market would witness market growth of 11.9% CAGR during the forecast period (2021-2027).
The incidents of cyber-attacks occurring throughout the region continue to thrive down. Simultaneously, cyber-attacks are becoming more sophisticated, and cyber-attack-related losses are growing. As new networks are now being deployed and current networks are being extended, cyber-attacks are becoming increasingly prevalent. This necessitates continual monitoring of networks, digital assets, and vital infrastructures by both small and large businesses, as well as managing possible threats. Furthermore, as the number of digital assets and linked devices grows, so does the number of cybercrime incidents. Cyber dangers are particularly dangerous to gadgets that are linked to the internet. Individuals' privacy can be jeopardized by social media interactions, which are equally subject to cyber dangers.
The UAE's National Cybersecurity Strategy aims to build a secure and resilient cyber infrastructure that allows citizens to achieve their goals and businesses to prosper. Telecommunications and Digital Government Regulatory Authority (TDRA), the body in charge of the country's ICT industry and digital transformation, released an updated version of the strategy in 2019. Fraud, frauds, malware, denial-of-service attacks, and intrusions were among the 875,327 security incident notifications received by Brazil's Centre for Studies, Responses, and Treatment of Security Incidents in 2019, and 318,697 in the first half of 2020 alone. These reports, on the other hand, are voluntarily supplied and hence do not correctly reflect the real number of security events discovered.
The Brazil market dominated the LAMEA Cyber Security Services Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2.96 billion by 2027. The Argentina market is anticipated to grow at a CAGR of 12.5% during (2021 - 2027). Additionally, The UAE market would experience a CAGR of 11.6% during (2021 - 2027).
Based on Service Type, the market is segmented into Professional Services and Managed Services. Based on Professional Services Type, the market is segmented into Training, Consulting & Advisory, Integration, Support & Maintenance, Penetration Testing & Bug Bounty, and Others. Based on Managed Services Type, the market is segmented into Managed Security Incident & Event Management (SIEM), Compliance & Vulnerability Management, Managed Detection Response (MDR), and Others. Based on End User, the market is segmented into Government & Defense, Manufacturing, BFSI, IT & Telecom, Retail, Healthcare, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Cyber Security Services Market is Predict to reach $178 Billion by 2027, at a CAGR of 9.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Crowdstrike Holdings, Inc., Deloitte Touche Tohmatsu Limited, Capgemini SE, IBM Corporation, Accenture PLC, Cisco Systems, Inc., DXC Technology Company, AT&T, Inc. (AT&T Intellectual Property), Atos Group, and Rapid7, Inc.
By Service Type
By End User
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