Latin America Cyber Security Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Latin America Cyber Security Companies and It is Segmented by Security Type (Network Security, Endpoint Security, Application Security, Cloud Security, and Wireless Network Security), Component (Hardware, Solution (Threat Intelligence and Response, Identity and Access Management, Data Loss Prevention, Security and Vulnerability Management, Intrusion Prevention System), and Services (Professional Services, Managed Services)), Deployment (Cloud and On-Premise), End-User Industry (Banking, Financial Services, and Insurance, Healthcare, Manufacturing, Retail, Government, and IT and Telecommunication), and Country (Brazil, Argentina, Mexico, Rest of Latin America). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Latin America Cyber Security Market Size

Single User License
Team License
Corporate License
Book before:
View Global Report
Latin America Cybersecurity Market Summary
share button
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 8.92 Billion
Market Size (2029) USD 12.48 Billion
CAGR (2024 - 2029) 6.95 %
Market Concentration Low

Major Players

Latin America Cybersecurity Market Major Players

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

OFF

Team License

OFF

Corporate License

OFF
Book before:

Latin America Cyber Security Market Analysis

The Latin America Cybersecurity Market size is estimated at USD 8.92 billion in 2024, and is expected to reach USD 12.48 billion by 2029, growing at a CAGR of 6.95% during the forecast period (2024-2029).

The region's expanding digital penetration, reinforced by internet usage and mobile development, drives demand for cybersecurity, but digital transformation is unattainable unless cybersecurity is prioritized. Rapid digitalization and extensive use of digital technology drive Latin American cybersecurity adoption.

  • Latin American emerging markets are the most exposed to hackers and breaches because they are still confronting cybersecurity. As things stand, Latin America requires a more strong cybersecurity basis in order to defend the future of its firms. In Latin America, cybercrime has manifested mostly through computer hacking strategies such as malware, phishing, and denial of service (DoS) attacks.
  • Furthermore, the region's rising consumer bias towards mobile payments is driving up the need for application security as application-based payments become more widespread and investment in creating payment apps increases.
  • The key drivers of the Latin American cybersecurity industry have been the use of new technologies such as the IoT, Big Data, and cognitive intelligence, as well as the acceptance of cloud-managed services. Cloud providers will exert more control over data centers, and companies will rely more on the public cloud during the epidemic to take advantage of its flexibility and scalability.
  • The area needs more professionals with skill sets that benefit the cybersecurity sector. According to an Inter-American Bank and Organisation of American States assessment, the Latin American and Caribbean (LAC) area needs to be better equipped to deal with cyberattacks.
  • COVID-19 has heightened the need for cybersecurity as businesses prepare to implement months-long business continuity plans (BCP), including information security monitoring and response while working under quarantine circumstances to boost cybersecurity.

Latin America Cyber Security Market Trends

Growing M2M/IoT Connections Demanding Strengthened Cybersecurity in Enterprises

  • The usage of cybersecurity solutions is likely to increase as internet access increases across Latin American countries. Furthermore, the expanding wireless network for mobile devices has increased data susceptibility, making cybersecurity a critical component of any Latin American organisation.
  • IoT is increasingly being employed as part of a bigger corporate transformation plan in Latin America. Furthermore, in certain areas, like Brazil, the pressure to implement IoT solutions as part of digital transformation programmes is developing quickly.
  • The IoT is a new wave of technological transformation that is upending Latin American industry. Companies and governments alike are investing in IoT solutions; the number of IoT connections in the area is estimated to reach 1,200 million by 2025, according to GSMA Intelligence.
  • Across the area, industries are eager to invest in IoT and Industry 4.0 technologies. Agroindustrial Laredo, a sugar mill, for example, was an early adopter of M2M technologies. The firm collaborated with IoT supplier AZLogica to create an IoT solution for optimising harvesting logistics. The use of IoT resulted in a tenfold return on investment, a 16% reduction in fuel usage, and timely product delivery. As a result of such advancements, organisations in the area are aiming to implement IoT, driving up demand for security solutions.
Latin America Cybersecurity Market: Number of IoT Connections, in Millions, Latin America, 2021-2025

Brazil to Witness the Growth

  • The cybersecurity market. Brazil, Argentina, and Mexico have formed. To counteract cyber-attacks Cyber Emergency Response Teams and Computer Security Incident, Response Teams will be required, with demand expected to grow throughout the projected period.
  • Brazilian businesses aggressively invest in cybersecurity solutions and services to secure corporate systems in danger during the epidemic and comply with new data protection rules. This tendency has also prompted fresh investments in the country's cybersecurity business.
  • Brazil is the most significant revenue-generating country in the Latin American cybersecurity industry, thanks to the country's expanding digital revolution. Recent regulatory changes like the new General Data Protection Regulation (GDPR) and 5G will likely drive business investment.
  • Furthermore, the government provides several commercial opportunities for foreign enterprises providing innovative cybersecurity solutions. Brazil's cybersecurity investment is mainly driven by the private sector, including banking and financial services, e-commerce, telecommunications, etc. The government sector accounts for approximately 20% of the Brazilian cybersecurity market.
Latin America Cybersecurity Market: 5G Network Deployments in Latin America and the Caribbean 2022, by Country

Latin America Cyber Security Industry Overview

The Latin American cybersecurity market is riddled with major global vendors and smaller regional vendors that cater to various segments of the market, owing to which the competitive space of the market is expected to be high.

  • May 2023 - Check Point Software Technologies Ltd has announced the expansion of its check point harmony endpoint protection solution by incorporating vulnerability and automated patch management capabilities. This enhancement addresses the mounting number of cyberattacks that exploit unpatched system vulnerabilities for unauthorized access. To deliver this advanced feature, Check Point has joined forces with Ivanti, integrating Ivanti Patch Management to assess and remediate software vulnerabilities from cloud to edge, into Check Point's Harmony Endpoint protection solution.
  • May 2023 - Cyber ark software ltd and Identity Security has announced new products and features across the CyberArk Identity Security Platform, making It is one of the most powerful platforms available. Investments in cloud security and automation and artificial intelligence (AI) breakthroughs throughout the platform make it simpler than ever to apply intelligent privilege controls to all human and non-human identities from a single vendo.

Latin America Cyber Security Market Leaders

  1. AVG Technologies

  2. Check Point Software Technologies Ltd

  3. Cisco Systems Inc.

  4. Cyber Ark Software Ltd

  5. Dell Technologies Inc.

*Disclaimer: Major Players sorted in no particular order

Latin America Cybersecurity Market Concentration
bookmark Need More Details on Market Players and Competitors?
Download PDF

Latin America Cyber Security Market News

  • May 2023 - Check Point Software Technologies Ltd has announced the general availability of its industry-leading Next-Generation Cloud Firewall natively integrated with Microsoft Azure Virtual WAN to provide customers with top-notch security. The integration offers advanced threat prevention and multi-layered network security across public, private, and hybrid clouds, enabling businesses to migrate confidently to Azure with maximum operational efficiency.
  • May 2023 - Cyber-Ark Software Ltd has introduced a cyber ark secure browser; this first-of-its-kind Identity Security web browser enables organizations to better protect against attacks with a flexible, identity-based approach to securing employee and third-party access to enterprise resources; by 2030, enterprise browsers will be the core platform for delivering workforce productivity and security software on managed and unmanaged devices for a seamless hybrid work experience

Latin America Cyber Security Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Value Chain Analysis

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Assessment of Impact of COVID-19 on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Rapidly Increasing Cybersecurity Incidents and Regulations Requiring their Reporting

      2. 5.1.2 Growing M2M/IoT Connections Demanding Strengthened Cybersecurity in Enterprises

    2. 5.2 Market Restraints

      1. 5.2.1 Lack of Cybersecurity Professionals

  6. 6. MARKET SEGMENTATION

    1. 6.1 Security Type

      1. 6.1.1 Network Security

      2. 6.1.2 Cloud Security

      3. 6.1.3 Application Security

      4. 6.1.4 End-point Security

      5. 6.1.5 Wireless Network Security

      6. 6.1.6 Other Types of Security

    2. 6.2 Component

      1. 6.2.1 Hardware

      2. 6.2.2 Solution

        1. 6.2.2.1 Threat Intelligence and Response

        2. 6.2.2.2 Identity and Access Management

        3. 6.2.2.3 Data Loss Prevention

        4. 6.2.2.4 Security and Vulnerability Management

        5. 6.2.2.5 Intrusion Prevention System

        6. 6.2.2.6 Other Solutions

      3. 6.2.3 Services

        1. 6.2.3.1 Professional Services

        2. 6.2.3.2 Managed Services

    3. 6.3 Deployment

      1. 6.3.1 Cloud

      2. 6.3.2 On-premise

    4. 6.4 End-user Industry

      1. 6.4.1 Banking, Financial Services, and Insurance

      2. 6.4.2 Healthcare

      3. 6.4.3 Manufacturing

      4. 6.4.4 Retail

      5. 6.4.5 Government

      6. 6.4.6 IT and Telecommunication

      7. 6.4.7 Other End-user Industries

    5. 6.5 Country

      1. 6.5.1 Brazil

      2. 6.5.2 Argentina

      3. 6.5.3 Mexico

      4. 6.5.4 Rest of Latin America

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles*

      1. 7.1.1 AVG Technologies

      2. 7.1.2 Check Point Software Technologies Ltd

      3. 7.1.3 Cisco Systems Inc.

      4. 7.1.4 Cyber Ark Software Ltd

      5. 7.1.5 Dell Technologies Inc.

      6. 7.1.6 FireEye Inc.

      7. 7.1.7 Fortinet Inc.

      8. 7.1.8 IBM Corporation

      9. 7.1.9 Imperva Inc.

      10. 7.1.10 Trend Micro Inc.

      11. 7.1.11 Intel Corporation

      12. 7.1.12 Symantec Corporation (Broadcom Inc.)

  8. 8. INVESTMENT ANALYSIS

  9. 9. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
bookmark You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Latin America Cyber Security Industry Segmentation

The practise of safeguarding computers, servers, mobile devices, electronic systems, networks, and data from hostile intrusions is known as cyber security. It is often referred to as information technology security or electronic data security.

The study analyzes the current market scenario and growth trends related to cybersecurity technology in the Latin American region, which has emerged as one of the major hotspots for investments, aided by strong M&A activity, partnerships, and supportive governmental policies. The study tracks the country-level market dynamics and the major implementation use cases for cybersecurity.

The Latin America cybersecurity market is segmented by security type (network security, endpoint security, application security, cloud security, and wireless network security), component (hardware, solution (threat intelligence and response, identity and access management, data loss prevention, security and vulnerability management, intrusion prevention system), and services (professional services, managed services)), deployment (cloud and on-premise), end-user industry (banking, financial services, and insurance, healthcare, manufacturing, retail, government, and it and telecommunication), and country (Brazil, Argentina, Mexico, Rest of Latin America). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

Security Type
Network Security
Cloud Security
Application Security
End-point Security
Wireless Network Security
Other Types of Security
Component
Hardware
Solution
Threat Intelligence and Response
Identity and Access Management
Data Loss Prevention
Security and Vulnerability Management
Intrusion Prevention System
Other Solutions
Services
Professional Services
Managed Services
Deployment
Cloud
On-premise
End-user Industry
Banking, Financial Services, and Insurance
Healthcare
Manufacturing
Retail
Government
IT and Telecommunication
Other End-user Industries
Country
Brazil
Argentina
Mexico
Rest of Latin America
customize-icon Need A Different Region Or Segment?
Customize Now

Latin America Cyber Security Market Research FAQs

The Latin America Cybersecurity Market size is expected to reach USD 8.92 billion in 2024 and grow at a CAGR of 6.95% to reach USD 12.48 billion by 2029.

In 2024, the Latin America Cybersecurity Market size is expected to reach USD 8.92 billion.

AVG Technologies, Check Point Software Technologies Ltd, Cisco Systems Inc., Cyber Ark Software Ltd and Dell Technologies Inc. are the major companies operating in the Latin America Cybersecurity Market.

In 2023, the Latin America Cybersecurity Market size was estimated at USD 8.30 billion. The report covers the Latin America Cybersecurity Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Cybersecurity Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Latin America Cyber Security Industry Report

Statistics for the 2024 Latin America Cyber Security market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Latin America Cyber Security analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

close-icon
80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!

Latin America Cyber Security Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)