Report Overview

Brazil Cybersecurity Market - Industry Trends & Forecast Report, 2030

The Brazil Cybersecurity Market size was estimated to be worth USD 12.11 billion in 2023. During the forecast period between 2024 and 2030, the Brazil Cybersecurity Market size is projected to grow at a CAGR of 4.17%, reaching a value of USD 15.36 billion by 2030. Major growth factors for the Brazil Cybersecurity Market include increasing risk of cyberattacks and expanding the online payment ecosystem in the country. In addition, the rising integration of advanced technologies, including the Internet of Things (IoT), machine learning, and cloud computing, is anticipated to drive the Brazil cybersecurity market growth during the forecast period.

Cybersecurity – Overview

Security refers to the practice of preventing unauthorized access or digital or internet-based attacks on networks, systems, and programs. Cybercrime can be tackled in many ways, including but not limited to critical infrastructure security, network security, application security, cloud security, disaster recovery/business continuity planning, storage security, and more. Furthermore, cybersecurity is a top priority for government agencies, businesses, military, financial, and healthcare organizations, which collect, store, and process large amounts of confidential data online. The risks of unauthorized access to such systems can compromise national security, which is why cybersecurity is so important.

Brazil Cybersecurity Market

Growth Drivers

Increasing Frequency of Cyberattacks

The frequency of cyberattacks in Brazil is rising as a result of the country's expanding internet usage, and this is emerging as the primary driving force for the country's cybersecurity sector. According to a report by Trend Micro, an American-Japanese cybersecurity firm, Brazil ranks second globally in terms of cyberattack susceptibility. More than 1,500 attempts at malware infection were made in Brazil each minute, according to a different study by a cybersecurity company Kaspersky. The deepening internet penetration is boosting the risk of cyberattacks through fraudulent messages and emails. As a result, there is an increasing demand for cybersecurity solutions across Brazil.

Challenges

Risk of Failures in Cybersecurity Measures

Cybersecurity solutions might not prove to be 100% effective in preventing possible cyberattacks, even with all the developments in technology. The increasing use of IoT across a range of businesses severely restricts the potential applications of cybersecurity. As IoT devices are networked over a single network and transport enormous amounts of data in real time, the risks of hacking or cyberattacks multiply on a specific network. IoT may potentially result in a higher risk of data breaches and cyberattacks, even though it helps in enhancing an organization’s operating efficiency. It poses a serious risk to the expansion of the cybersecurity market in Brazil.

Brazil Cybersecurity Market

Segmental Coverage

Brazil Cybersecurity Market – By Offering

Based on the offering, the Brazil Cybersecurity Market is segmented into solutions and services. The solution segment is further divided into IAM, antivirus/antimalware, log management & SIEM, firewall, encryption & tokenization, compliance & policy management, patch management, and others. The identity & access management (IAM) segment accounts for the highest market share. IAM systems prevent hackers from accessing data while making sure that each user only has the precise rights required to do their duties. The rising adoption of remote working culture across companies of all sizes, including large and small & medium-sized enterprises, is driving the growth of the market.

Brazil Cybersecurity Market – By Deployment Mode

Based on deployment mode, the Brazil Cybersecurity Market is segmented into on-premises, cloud, and hybrid. The on-premises segment holds the largest share of the Brazil cybersecurity market by deployment mode. On-premises deployment ensures the highest level of data security as it provides complete ownership to the organization and reduces dependency on third-party service providers. However, cloud deployment is anticipated to witness the highest CAGR during the forecast period. The COVID-19 pandemic is driving this growth because they provide cost-effective solutions and remote access in addition to being remotely deployable.

Brazil Cybersecurity Market – By Security Type

Based on security type, the Brazil Cybersecurity Market is segmented into network security, endpoint & IoT security, cloud security, and application security. The network security type holds the largest market share with its lower danger of data theft and sabotage. The increased frequency of incidents involving sensitive information being obtained through data breaches, especially in the banking sector, is driving the demand for network security. The growing popularity of cloud computing is driving rapid growth in the cloud security market as well.

Competitive Landscape

Major players operating in the Brazil Cybersecurity Market include IBM Corporation, Cisco Systems Inc., Microsoft Corporation, Check Point Software Technologies Ltd., Northrop Grumman, Norton LifeLock, Broadcom Inc., Dell Technologies Inc., Palo Alto Networks Inc., and AO Kaspersky Lab.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In April 2024 – Stefanini Group, a global technology company based in Brazil, acquired Protega, a cybersecurity solutions provider, to expand its cybersecurity portfolio.

Scope of the Report

By Offering

• Solution

1. IAM

2. Antivirus/Antimalware

3. Log Management & SIEM

4. Firewall

5. Encryption & Tokenization

6. Compliance & Policy Management

7. Patch Management

8. Others

• Services

By Deployment Mode

• On-premises

• Cloud

• Hybrid

By Security Type

• Network Security

• Endpoint & IoT Security

• Cloud Security

• Application Security

By Verticals

• Government

• BFSI

• Healthcare & Lifesciences

• Aerospace & Defense

• Retail & eCommerce

• Manufacturing

• Energy & Utilities

• Telecommunications

• Transportation & Logistics

• Media & Entertainment

• Others

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Brazil Cybersecurity Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increasing Digitalization in Brazil
         2. Growing Cyberattacks
         3. Data Protection Regulations
      2. Restraints
         1. Lack of Skilled Workforce
         2. Increasing Cybersecurity Awareness
         3. Cost of Solutions
      3. Opportunities
         1. Growing Demand for Cloud Security Solutions
         2. Advancements in Emerging Technologies, such as Artificial Intelligence (AI), Machine Learning (ML), Big Data Analytics
         3. Increasing Use of IoT Devices Source
      4. Challenges
         1. Regulatory Environment for Cybersecurity in Brazil
         2. Increasing Cybersecurity Threat in Brazil
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Brazil Cybersecurity Market: Marketing Strategies
5. Brazil Cybersecurity Market: Pricing Analysis
6. Brazil Cybersecurity Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Offering
         1. Solution
            1. IAM
            2. Antivirus/Antimalware
            3. Log Management & SIEM
            4. Firewall
            5. Encryption & Tokenization
            6. Compliance & Policy Management
            7. Patch Management
            8. Others
         2. Services
      2. By Deployment Mode
         1. On-premises
         2. Cloud
         3. Hybrid
      3. By Security Type
         1. Network Security
         2. Endpoint & IoT Security
         3. Cloud Security
         4. Application Security
      4. By Verticals
         1. Government
         2. BFSI
         3. Healthcare & Lifesciences
         4. Aerospace & Defense
         5. Retail & eCommerce
         6. Manufacturing
         7. Energy & Utilities
         8. Telecommunications
         9. Transportation & Logistics
         10. Media & Entertainment
         11. Others
7. Competitive Landscape
   1. List of Key Players and Their Products
   2. Brazil Cybersecurity Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Merger, Acquisition, Partnership)
8. Impact of Escalating Geopolitical Tensions on Brazil Cybersecurity Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, and SWOT Analysis)
   1. IBM Corporation
   2. Cisco Systems Inc
   3. Microsoft Corporation
   4. Check Point Software Technologies Ltd
   5. Northrop Grumman
   6. NortonLifeLock
   7. Broadcom Inc
   8. Dell Technologies Inc.
   9. Palo Alto Networks Inc.
   10. AO Kaspersky Lab
   11. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
    1. Qualitative Research
       1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.    Breakdown of Primary Research Respondents
    5.    Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       Brazil Cybersecurity Market Segmentation

Figure 2       Brazil Cybersecurity Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       Brazil Cybersecurity Market Size, By Value (USD Billion), 2019–2030

Figure 5       Brazil Cybersecurity Market Share, By Offering, By Value (USD Billion) 2019–2030

Figure 6       Brazil Cybersecurity Market Share, By Deployment Type, By Value (USD Billion) 2019–2030

Figure 7       Brazil Cybersecurity Market Share, By Security Type, By Value (USD Billion) 2019–2030

Figure 7       Brazil Cybersecurity Market Share, By Verticals, By Value (USD Billion) 2019–2030

List of Tables   

Table 1        Brazil Cybersecurity Market Size, By Value (USD Billion), 2019–2030

Table 2        Brazil Cybersecurity Market Share, By Offering, By Value (USD Billion) 2019–2030

Table 3        Brazil Cybersecurity Market Share, By Deployment Type, By Value (USD Billion) 2019–2030

Table 4        Brazil Cybersecurity Market Share, By Security Type, By Value (USD Billion) 2019–2030

Table 5        Brazil Cybersecurity Market Share, By Verticals, By Value (USD Billion), 2019–2030

Table 6        IBM Corporation Company Overview

Table 7        IBM Corporation Financial Overview

Table 8        Cisco Systems Inc Company Overview

Table 9        Cisco Systems Inc Financial Overview

Table 10      Microsoft Corporation Company Overview

Table 11      Microsoft Corporation Financial Overview

Table 12      Check Point Software Technologies Ltd Company Overview

Table 13      Check Point Software Technologies Ltd Financial Overview

Table 14      Northrop Grumman Company Overview

Table 15      Northrop Grumman Financial Overview

Table 16      NortonLifeLock Company Overview

Table 17      NortonLifeLock Financial Overview

Table 18      Broadcom Inc Company Overview

Table 19      Broadcom Inc Financial Overview

Table 20      Dell Technologies Inc. Company Overview

Table 21      Dell Technologies Inc. Financial Overview

Table 22      Palo Alto Networks Inc. Company Overview

Table 23      Palo Alto Networks Inc. Financial Overview

Table 24      AO Kaspersky Lab Company Overview

Table 25      AO Kaspersky Lab Financial Overview