The Latin America, Middle East and Africa Defense Cyber Security Market would witness market growth of 13.5% CAGR during the forecast period (2022-2028).
Cyber security makes the work of the organization easy by ensuring the availability of the resources contained in any network. A cyber security aids them to prevent huge losses by securing their online presence. As every technology have their own way to make the working easy and cyber security does this by ensuring that the data remains the confidential, followed by integrity and availability when needed.
Cybersecurity allows the user to secure their system or network, which has to work with the sensitive or critical organizational database, which is also the crucial role of cybersecurity. It makes sure that the data is accessed only by authorized users. A very secure and updated system will be least biased towards security breaches and aid the user in safeguarding their data from exposure to any attacker or malicious user. Also, cybersecurity offers plans to ensure sustainable business processes that could help the defense organizations maintain their reputation, thus enabling them to continue their operations without any issues.
Saudi Arabia ranked among the most significant defense spender in the world in 2021. The nation’s defense spending has increased significantly in the last decade due to various reasons, like wars in neighboring countries. In addition, to the economic diversification program under vision 2030, the government aims to localize almost half of its military procurement by 2030. The high army spending will ensure the modernization of the military and the higher utilization of AI and IoT-based equipment, which will surge the adoption of cyber security technologies. Hence, boosting the market growth in the region.
The Brazil market dominated the LAMEA Defense Cyber Security Market by Country in 2021, thereby, achieving a market value of $739.1 million by 2028. The Argentina market is expected to witness a CAGR of 14.1% during (2022 - 2028). Additionally, The UAE market would witness a CAGR of 13.2% during (2022 - 2028).
Based on Deployment, the market is segmented into On-premise and Cloud. Based on Type, the market is segmented into Endpoint Security, Network Security and Content Security. Based on Offering, the market is segmented into Solution and Services. Based on Solution Type, the market is segmented into Identity & Access Management, Security & Vulnerability Management, Data loss Prevention Management, Threat intelligence & Response Management, Unified Threat Management, Enterprise risk & Compliance, Managed Security and Others. Based on Application, the market is segmented into Military, Communication Networks, Public Utilities 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 Worldwide Defense Cyber Security Market is Projected to reach USD 33.7 Billion by 2028, at a CAGR of 7.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Intel Corporation, AT&T Inc., IBM Corporation, BAE Systems plc, Thales Group S.A., DXC Technology Company, Cisco Systems, Inc., Raytheon Technologies, Corporation (Collins Aerospace), Lockheed Martin Corporation, Northrop Grumman Corporation.
By Deployment
By Type
By Offering
By Application
By Country
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