Brazil Cybersecurity Market
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Brazil Cybersecurity Market, By Offering (Solution, Services); By Deployment Mode (On-premises, Cloud, Hybrid); By Security Type (Network Security, Endpoint & IoT Security, Cloud Security, Application Security); By Vertical (Government, BFSI, Healthcare & Lifesciences, Aerospace & Defense, Retail & eCommerce, Manufacturing, Energy & Utilities, Telecommunications, Transportation & Logistics, Media & Entertainment, Others), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
- Published Date: June 2024
- Report ID: BWC24408
- Available Format: PDF
- Page: 200
Report Overview
An increasing digitalization across industry verticals in the country and expanding cyberattack landscape are expected to boost the growth of Brazil Cybersecurity Market during the forecast period between 2024 and 2030.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
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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
Attributes |
Details |
Years Considered |
Historical Data – 2019–2023 |
Base Year – 2023 |
|
Estimated Year – 2024 |
|
Forecast Period – 2024–2030 |
|
Facts Covered |
Revenue in USD Billion |
Product/ Service Segmentation |
Offering, Deployment Mode, Security Type |
Key Players |
IBM Corporation, Cisco Systems Inc, Microsoft Corporation, Check Point Software Technologies Ltd, Northrop Grumman, NortonLifeLock, Broadcom Inc, Dell Technologies Inc., Palo Alto Networks Inc., AO Kaspersky Lab |
By Offering
-
Solution
-
IAM
-
Antivirus/Antimalware
-
Log Management & SIEM
-
Firewall
-
Encryption & Tokenization
-
Compliance & Policy Management
-
Patch Management
-
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
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Brazil Cybersecurity Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Increasing Digitalization in Brazil
- Growing Cyberattacks
- Data Protection Regulations
- Restraints
- Lack of Skilled Workforce
- Increasing Cybersecurity Awareness
- Cost of Solutions
- Opportunities
- Growing Demand for Cloud Security Solutions
- Advancements in Emerging Technologies, such as Artificial Intelligence (AI), Machine Learning (ML), Big Data Analytics
- Increasing Use of IoT Devices Source
- Challenges
- Regulatory Environment for Cybersecurity in Brazil
- Increasing Cybersecurity Threat in Brazil
- Growth Drivers
- Technological Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Brazil Cybersecurity Market: Marketing Strategies
- Brazil Cybersecurity Market: Pricing Analysis
- Brazil Cybersecurity Market Overview
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Offering
- Solution
- IAM
- Antivirus/Antimalware
- Log Management & SIEM
- Firewall
- Encryption & Tokenization
- Compliance & Policy Management
- Patch Management
- Others
- Services
- Solution
- 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
- By Offering
- Market Size & Forecast, 2019–2030
- Competitive Landscape
- List of Key Players and Their Products
- Brazil Cybersecurity Company Market Share Analysis, 2023
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Development (Merger, Acquisition, Partnership)
- Impact of Escalating Geopolitical Tensions on Brazil Cybersecurity Market
- Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, and SWOT Analysis)
- IBM Corporation
- Cisco Systems Inc
- Microsoft Corporation
- Check Point Software Technologies Ltd
- Northrop Grumman
- NortonLifeLock
- Broadcom Inc
- Dell Technologies Inc.
- Palo Alto Networks Inc.
- AO Kaspersky Lab
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents
- Assumptions & Limitations
- Qualitative Research
*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
Market Segmentation
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