It’s being expected that by 2030, the Africa Cyber Security market cap will hit USD 19.79 Billion at a CAGR growth of about 14.35%.
The expanding number of mobile workers, cloud system adoption, and Advanced Persistent Threats (APTs) all give cyber suppliers with a wide range of opportunities in the industry. Aside from these, issues including the requirement for tight compliance and data disclosure mandates, the risk of sensitive data being lost, growing internet penetration, and a rise in spending patterns on security forums are all driving up demand for cyber security solutions.
The global Africa cyber security market size is predicted to grow at a significant CAGR over the forecast period. This can be ascribed to the growing digitalization adoption, such as the cloud, mobile technologies by SMBs and large enterprises. In addition, the increasing need for unified cyber solutions, data disclosure mandates, increased internet subscriptions, and enhanced enterprise mobility is boosting the market growth. Moreover, the growing cyber security concerns across banking, energy, utilities sector is also contributing to the growth of the market.
Businesses in Africa are particularly vulnerable to cybercrime, with more than half of the countries in Africa having inadequate Cyber Security laws and regulations, making it a haven for cybercriminals. These factors are increasing the need for cyber security. Securing universal internet access and the capability to operate safely and effectively within an increasingly digitized economy are the two of the greatest challenges for businesses operating in Africa.
|Revenue forecast in 2030
|USD 19.79 Billion
|CAGR of 14.35% during 2021-2030
|Product, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Cisco, IBM, EMC Corporation, CSC, Symantec, HP, Fortinet dominate the Africa Cyber Security market. Some of the few other players include MCAfee, Darktrace, Synopsys, and Zartech.
Key Segments of the Global Africa Cyber Security Market
Type Overview, (USD Billion)
Application Overview, (USD Billion)
- Large Enterprises
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Africa Cyber Security Market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global Africa Cyber Security Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Africa Cyber Security industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on Type, Type, Application, and Application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Africa Cyber Security Market. The report will benefit:
- Every stakeholder involved in the Africa Cyber Security Market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the global Africa Cyber Security Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Africa Cyber Security Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
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Based on Type, the cloud-based segment of the market is projected to grow at the highest CAGR from 2019 to 2028, owing to the increasing adoption of cloud based services and IoT solutions for cyber security is augmenting the market growth. Large enterprises and small businesses are seeking for cyber security owing to rising number of cyber attacks. On-premises segment is estimated to grow at the significant rate over the forecast period.
Application segment is comprised of SMBs and large enterprises. The large enterprises segment is expected to lead the market from 2020. Several organization across industries such as oil & gas, IT & Telecom, BFSI are facing challenges due to the rising cyber security concers. Furthermore, the increasing internet penetration, focus on enterprise mobility are expected to offer potential growth opportunities for market growth. SMBs segment is projected to expand at the considerable rate in the next few years.
In various regions across the globe, the Africa Cyber Security market is experiencing steady growth. With regard to the regional outlook, South Africa is projected to rank higher in terms of market share than other regions of the Africa Cyber Security. Growing demand for cyber security across SMBs & large enterprises applications across the developing countries such as South Africa, Nigeria, Egypt is projected to witness a prolific growth in the coming years. The growth of Africa Cyber Security market may also be influenced by the rising concerns of cyber security in enterprises in the region.
The global market for Africa Cyber Security is made up of a large number of influential players. Market players such as Cisco, IBM, EMC Corporation, CSC, Symantec, HP, Fortinet dominate the Africa Cyber Security market. Some of the few other players include MCAfee, Darktrace, Synopsys, and Zartech.