Report Overview

Mexico Cyber Security Market- Industry Trends & Forecast Report 2027

Mexico cyber security market is estimated to grow at a CAGR of 10.2% during the forecast period. The growth of the Mexico cyber security market is attributed to the increasing rate of cyberattacks in the country. According to an estimate, there were over 9.9 million malware attacks in Mexico in 2020 alone. As a result, the government and cybersecurity service providers are investing significantly towards cyber protection, which is likely to boost the Mexico cyber security market in the forecast period.

Mexico Cyber Security Market- Overview

Cybersecurity is a process and technology applied for the protection of computer systems, networks as well as the critical data stored or is transferred through the network from potential digital attacks. The number of cyberattacks aimed at gaining illegal access to computers and computer networks is rapidly increasing, causing concerns across many industries. Cybersecurity provides comprehensive protection against all types of data theft and loss besides lowering the risks of data breaches and attacks on IT systems.

Mexico Cyber Security Market Forecast and Trends

Growth Drivers

Growing Cybersecurity Threats on Mexico

Mexico now ranks 52 out of 182 countries in terms of vulnerability to cyberattacks, according to the International Telecommunications Union (ITU). Mexico witnessed a sharp surge in the cyberattacks after the COVID-19 outbreak in 2020. According to a research report by cybersecurity company Fortinet, there were more than 41 billion attempted cyberattacks registered in Latin America, of which 34% occurred in Mexico alone. With such increasing numbers, the public and private sectors, as well as the government, are considerably investing in cybersecurity solutions, which is expected to boost the market throughout the forecast period.

Increasing Number of e-Commerce Platforms

With a high concentration of popular e-commerce websites like Amazon Mexico, Walmart Mexico, Mercado Libre, Home Depot Mexico, etc., Mexico is the 17th largest market for e-commerce. With the flourishing e-commerce industry in the country, the use of artificial intelligence, machine learning, and online payment platforms has also increased, leaving the country vulnerable to cyberattacks. Thus, the e-commerce companies are significantly investing in IT tools and adoption of cybersecurity solutions to protect the business as well as its customers from potential cyberattacks. These factors are expected to propel the growth of the Mexico cybersecurity market.

Restraints

Lack of Structured Cybersecurity Laws in The Country

There is no 'Mexican' legislation that strictly specifies the scope of cybersecurity or the consequences of cyberattacks. Although the 'Federal Criminal Code' regulates illicit activity done by electronic means that can be categorized as cybercrimes, its scope is insufficient to handle the growing threat of cyberattacks. Furthermore, the lack of established cyber security legislation shields firms from not providing their users with privacy and data security. This is a major impediment to the growth of the Mexican cyber security market.

Impact of COVID-19 on Mexico Cyber Security Market

COVID-19 offered unprecedented opportunities for growth in the Mexican cyber security market and accelerated it by several years. Following the COVID-19 pandemic, the demand for cyber security services sharply increased due to an increase in the number of cyberattacks. Additionally, Mexico's cybersecurity companies are investing in digital processes and adopting tools to strengthen their security in order to increase their competitiveness to meet the growing market demand and complexities of cyberattacks. In the post-COVID-19 period, these factors are expected to boost the Mexico cyber security market.

Mexico Cyber Security Market - By Component

Based on components, the Mexico cyber security market is segmented into hardware, software, and services. Among these segments, the services segment accounts for the largest market share, as the cyber security providers assess the threats and need and then deploy security measures accordingly. It also proves to be highly effective and cost-efficient for organizations as cybersecurity professionals perform real-time management. This segment is further classified into professional services and managed services where potential services hold the largest share in the market.

Mexico Cyber Security Market - By Security Type

Based on security types, the Mexico cyber security market is segmented into network security, endpoint security, application security, cloud security, and others. The network security segment accounts for the largest share in the market because of its prominent use in the IT and telecom industry. Furthermore, as an increasing number of IoT technologies are interconnected through a single network and share large volumes of data, network security is a necessity to prevent cyberattacks. During the forecast period, this factor is expected to boost the demand for network security.

Mexico Cyber Security Market - By Deployment Mode

Based on the deployment models, the Mexico cyber security market is segmented into on-premises and cloud. By far, the largest market share belongs to the on-premise segment due to the preference of large organizations. On-premise deployment ensures that data is in the hands of the organizations without requiring third-party service providers. However, the cloud segment is projected to witness the highest CAGR during the forecast period as it requires limited IT infrastructure, which proves to be cost-efficient, especially to small and medium-sized enterprises.

Competitive Landscape

The leading players in the Mexico cyber security market are Inflection Point, Truxgo Servers, Systems-X, BeachFleischman Cybersecurity, Venn, CYCSAS, KIO Cyber, Axity, Bayonet, Maat.ai, Mati, and other prominent players.

The market is highly fragmented, with the presence of several players and evolving with great potential for cybersecurity service providers. In order to provide real-time solutions to organizations, the companies are heavily focused on advancing their technology and strengthening their services. They are also heavily investing in expanding their business beyond geographical borders. The adoption of competitive strategies such as partnerships, mergers, acquisitions, and joint ventures is also common in this market.

Recent Developments

• In August 2021, Tata Consultancy Services (TCS), a leading Indian information technology consulting company, announced plans to build a cybersecurity center in Mexico that would serve clients across Latin America.
• In July 2021, Steller Cyber, a US-based computer, and network security company, announced its plan to expand its market reach in Latin America by adding Coeficiente Comunicaciones, a leading Mexican internet service provider.

Scope of the Report

By Component

• Hardware
• Software
• Services

1. Professional Services
2. Managed Services

By Software

• Antivirus/Antimalware
• Disaster Recovery
• Advanced Persistent Threat
• Encryption
• Network Access Control
• Threat Intelligence
• Intrusion Detection and Prevention System
• Security and Information Event Management
• Firewall
• Security and Vulnerability Management
• Secure Web Gateway
• Risk and Compliance Management
• Security Orchestration Automation and Response
• Identity and Access Management
• Others

By Security Type

• Network Security
• Endpoint Security
• Application Security
• Cloud Security
• Others

By Deployment Mode

• On–Premises
• Cloud

By Organization Size

• Small and Medium–Sized Enterprises
• Large Enterprises

By End-User

• Aerospace and Defense
• Government
• Banking, Financial Services, And Insurance (BFSI)
• IT
• Healthcare
• Retail
• Manufacturing
• Energy and Utilities
• Telecommunication
• Media and Entertainment
• Others

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Key Market Segments
2. Research Methodology
   1. Qualitative Research
   2. Methodology
   3. Regional Split of Primary & Secondary Research
   4. Secondary Research
   5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
   6. Market Size Estimation
   7. Assumptions for the Study
   8. Market Breakdown & Data Triangulation
3. Executive Summary
4. Industry Insight and Growth Strategy
   1. Value Chain Analysis
   2. DROC Analysis
      1. Market Drivers
         1. Growing Cybersecurity Threats on Mexico
         2. Increasing Number of E-Commerce Platforms
      2. Market Restraints
         1. Lack of Structured Cybersecurity Laws In The Country
      3. Market Challenges
         1. High Cost Involved in Cyber Security Deployment
      4. Market Opportunity
         1. Growing Adoption of Cyber Security in Small & Medium-Sized Enterprises
         2. Expanding Demand for Identity And Access Management Software
   3. Recent Developments
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
5. Mexico Cyber Security Market Overview
   1. Market Size & Forecast by Value, 2017-2027
   2. Market Size and Forecast, By Segment
      1. By Component
         1. Hardware
         2. Software
         3. Services
            1. Professional Services
            2. Managed Services
      2. By Software
         1. Antivirus/Antimalware
         2. Disaster Recovery
         3. Advanced Persistent Threat
         4. Encryption
         5. Network Access Control
         6. Threat Intelligence
         7. Intrusion Detection and Prevention System
         8. Security and Information Event Management
         9. Firewall
         10. Security and Vulnerability Management
         11. Secure Web Gateway
         12. Risk and Compliance Management
         13. Security Orchestration Automation and Response
         14. Identity and Access Management
         15. Others
      3. By Security Type
         1. Network Security
         2. Endpoint Security
         3. Application Security
         4. Cloud Security
         5. Others
      4. By Deployment Mode
         1. On–Premises
         2. Cloud
      5. By Organization Size
         1. Small and Medium–Sized Enterprises
         2. Large Enterprises
      6. By End-User
         1. Aerospace and Defense
         2. Government
         3. Banking, Financial Services, And Insurance (BFSI)
         4. IT
         5. Healthcare
         6. Retail
         7. Manufacturing
         8. Energy and Utilities
         9. Telecommunication
         10. Media and Entertainment
         11. Others
6. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Market Share Analysis (2020)
   3. Competitive Benchmarking by Operating Parameters
7. Impact of COVID-19 on Mexico Cyber Security Market
8. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
   1. Inflection Point
   2. Truxgo Servers
   3. Systems-X
   4. BeachFleischman Cybersecurity
   5. Venn
   6. CYCSAS
   7. KIO Cyber
   8. Axity
   9. Bayonet
   10. Maat.ai
   11. Mati
   12. Other Prominent Players
9. Key Strategic Recommendations

List of Figures

Figure 1: Mexico Cyber Security Market Segmentation

Figure 2: Mexico Cyber Security Market Value Chain Analysis,

Figure 3: Company Market Share Analysis, 2020

Figure 4: Mexico Cyber Security Market Size, By Value (USD Million), 2017-2027

Figure 5: Mexico Cyber Security Market Share (%), By Component, By Value, 2017-2027

Figure 6: Mexico Cyber Security Market Share (%), By Software, By Value, 2017-2027

Figure 7: Mexico Cyber Security Market Share (%), By Security Type, By Value, 2017-2027

Figure 8: Mexico Cyber Security Market Share (%), By Deployment Mode, By Value, 2017-2027

Figure 9: Mexico Cyber Security Market Share (%), By Organization Size, By Value, 2017-2027

Figure 10: Mexico Cyber Security Market Share (%), By End User, By Value, 2017-2027

List of Tables

Table 1: Mexico Cyber Security Market Size, By Component, By Value, 2017-2027

Table 2: Mexico Cyber Security Market Size, By Software, By Value (USD Million), 2017-2027

Table 3: Mexico Cyber Security Market Size, By Security Type, By Value (USD Million), 2017-2027

Table 4: Mexico Cyber Security Market Size, By Deployment Mode, By Value (USD Million), 2017-2027

Table 5: Mexico Cyber Security Market Size, By Organization Size, By Value (USD Million), 2017-2027

Table 6: Mexico Cyber Security Market Size, By End User, By Value (USD Million), 2017-2027

Table 7: Inflection Point Financial Analysis

Table 8: Inflection Point Business Overview

Table 9: Truxgo Servers Financial Analysis

Table 10: Truxgo Servers Business Overview

Table 11: Systems-X Financial Analysis

Table 12: Systems-X Business Overview

Table 13: BeachFleischman Cybersecurity Financial Analysis

Table 14: BeachFleischman Cybersecurity Business Overview

Table 15: Venn Financial Analysis

Table 16: Venn Business Overview

Table 17: CYCSAS Financial Analysis

Table 18: CYCSAS Business Overview

Table 19: KIO Cyber Financial Analysis

Table 20: KIO Cyber Business Overview

Table 21: Axity Financial Analysis

Table 22: Axity Business Overview

Table 23: Bayonet Financial Analysis

Table 24: Bayonet Business Overview

Table 25: Maat.ai Financial Analysis

Table 26: Maat.ai Business Overview

Table 27: Mati Financial Analysis

Table 28: Mati Business Overview