The Latin America, Middle East and Africa Security Appliances Market would witness market growth of 14.4% CAGR during the forecast period (2022-2028).
The most common threat to a network's security is email security breaches. Attackers can trick victims into adopting spoofing campaigns, installing malware, and clicking on suspicious links by using personal information and clever marketing and social engineering strategies. Incoming attacks are blocked, possible threats are filtered, and outgoing emails are prevented from exposing sensitive information or propagating malware through users' contact lists.
Small and midsize business can manage their security more easily with these type of appliance because they have to deal with one device and one support source. A cost-effective appliance solution provides a centralized console for network security monitoring from remote locations.
In Africa, technology has drastically altered the business scene. Technology is now integrated with many, elements of business, from strategic decisions to the creation of new chances for product and service innovation. The use of the internet has increased dramatically, particularly in Africa. However, as more companies digitize their processes and go to the web, the number of attack vectors available to them grows.
The sophistication of local cybercriminals is increasing. Cybercriminals launched a sophisticated cyber-attack on ten financial, insurance, utility, and governmental entities in three African countries. The attack, which lasted over a year, from October 2015 to August 2016, was based on several flaws in the organization's ICT systems and processes. According to the investigation, the cybercrime resulted in an approximate loss of USD4 million, with a target value of USD15 million. Some organizations, particularly those in the financial industry, were able to evade the cyberattacks before the whole required number was depleted.
The Brazil market dominated the LAMEA Security Appliances Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,995.6 million by 2028. The Argentina market is poised to grow at a CAGR of 15% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 14% during (2022 - 2028).
Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Industry, the market is segmented into BFSI, Energy & Utilities, Manufacturing, Telecom & IT, Aerospace & Defense, Healthcare & Life Sciences, Public Sector, Retail, and Others. Based on Type, the market is segmented into Content Management, Firewall, Virtual Private Network, Intrusion Detection & Prevention, and Unified Threat Management. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Security Appliances Market is Predict to reach $152.1 Billion by 2028, at a CAGR of 11.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., Check Point Software Technologies Ltd., Broadcom, Inc., Intel Corporation, Fortinet, Inc., Palo Alto Networks, Inc., Bosch Security Systems GmbH, Honeywell International, Inc., Trend Micro, Inc., and Juniper Networks, Inc.
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