The Latin America, Middle East and Africa Cloud Security Market is expected to witness market growth of 17.8% CAGR during the forecast period (2021-2027).
Cloud security is a collection of solutions and policies used to safeguard cloud-based systems, infrastructure and networks. These security procedures are set up to secure data stored in a company's cloud while also complying with security regulations. Since 2019, about 16 billion records comprising important information like home addresses, credit card numbers, and other sensitive data have been exposed to susceptible risks, according to a report issued by the Selfkey Foundation, State of the Breach June 2020.
As a result, the demand for security solutions has exploded in recent years. Since businesses have migrated to remote operations as a result of COVID-19, there has been a considerable increase in data breaches and security threats. The market is likely to remain robust over the projection period, owing to factors such as the growth of smartphones and a large base of Internet users.
The MEA geography has a technology infrastructure that is underdeveloped and unable to supply local companies with reasonable bandwidth. Naturally, this has stifled the rise of bandwidth-intensive technologies like the cloud, and has fostered a company culture that is still heavily reliant on older infrastructure.
While cloud acceptance in the MEA area remains low, new initiatives such as Bahrain's "cloud-first policy," national strategic visions like UAE Vision 2021, New Kuwait Vision 2035 and Saudi Vision 2030, and the acceptance of emerging technologies are beginning to shift the cloud landscape.
The coronavirus outbreak has prompted renewed interest in cloud-based technologies, with remote working and the expansion of online services underscoring the importance of a strong digital infrastructure. In fact, through 2024, the Middle East data centre industry is expected to increase at a growth rate of roughly 7% CAGR, with end-user needs motivating data centre developers like Equinix to support this expansion.
The Brazil market dominated the LAMEA Cloud Security Market by Country in 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $1.7 billion by 2027. The Argentina market is estimated to grow at a CAGR of 18.5% during (2021 - 2027). Additionally, The UAE market is expected to expect a CAGR of 17.5% during (2021 - 2027).
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Vertical, the market is segmented into Telecom & IT, BFSI, Healthcare, Retail & eCommerce, Government & Defense, Utilities, Manufacturing, and Others. Based on Application, the market is segmented into Email & Web Security, Cloud Identity & Access Management, Data Encryption & Prevention, Threat Intelligence, Monitoring & Protection, and Others. Based on Service Model, the market is segmented into Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), and Platform-as-a-Service (PaaS). Based on Security Type, the market is segmented into Network Security, Endpoint Security, Perimeter Security, Application Security and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include McAfee Corp., IBM Corporation, Microsoft Corporation, Google LLC, Amazon Web Services, Inc., Cisco Systems, Inc., Palo Alto Networks, Inc., Check Point Software Technologies Ltd., Sophos Group PLC (Thoma Bravo), and Trend Micro, Inc.
By Organization Size
By Vertical
By Application
By Service Model
By Security Type
By Country: Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Cloud security is a collection of solutions and policies used to safeguard cloud-based systems, infrastructure and networks. These security procedures are set up to secure data stored in a company's cloud while also complying with security regulations. Since 2019, about 16 billion records comprising important information like home addresses, credit card numbers, and other sensitive data have been exposed to susceptible risks, according to a report issued by the Selfkey Foundation, State of the Breach June 2020.
As a result, the demand for security solutions has exploded in recent years. Since businesses have migrated to remote operations as a result of COVID-19, there has been a considerable increase in data breaches and security threats. The market is likely to remain robust over the projection period, owing to factors such as the growth of smartphones and a large base of Internet users.
The MEA geography has a technology infrastructure that is underdeveloped and unable to supply local companies with reasonable bandwidth. Naturally, this has stifled the rise of bandwidth-intensive technologies like the cloud, and has fostered a company culture that is still heavily reliant on older infrastructure.
While cloud acceptance in the MEA area remains low, new initiatives such as Bahrain's "cloud-first policy," national strategic visions like UAE Vision 2021, New Kuwait Vision 2035 and Saudi Vision 2030, and the acceptance of emerging technologies are beginning to shift the cloud landscape.
The coronavirus outbreak has prompted renewed interest in cloud-based technologies, with remote working and the expansion of online services underscoring the importance of a strong digital infrastructure. In fact, through 2024, the Middle East data centre industry is expected to increase at a growth rate of roughly 7% CAGR, with end-user needs motivating data centre developers like Equinix to support this expansion.
The Brazil market dominated the LAMEA Cloud Security Market by Country in 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $1.7 billion by 2027. The Argentina market is estimated to grow at a CAGR of 18.5% during (2021 - 2027). Additionally, The UAE market is expected to expect a CAGR of 17.5% during (2021 - 2027).
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Vertical, the market is segmented into Telecom & IT, BFSI, Healthcare, Retail & eCommerce, Government & Defense, Utilities, Manufacturing, and Others. Based on Application, the market is segmented into Email & Web Security, Cloud Identity & Access Management, Data Encryption & Prevention, Threat Intelligence, Monitoring & Protection, and Others. Based on Service Model, the market is segmented into Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), and Platform-as-a-Service (PaaS). Based on Security Type, the market is segmented into Network Security, Endpoint Security, Perimeter Security, Application Security and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include McAfee Corp., IBM Corporation, Microsoft Corporation, Google LLC, Amazon Web Services, Inc., Cisco Systems, Inc., Palo Alto Networks, Inc., Check Point Software Technologies Ltd., Sophos Group PLC (Thoma Bravo), and Trend Micro, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Organization Size
- Large Enterprises and
- Small & Medium Enterprises (SMEs)
By Vertical
- Telecom & IT
- BFSI
- Healthcare
- Retail & eCommerce
- Government & Defense
- Utilities
- Manufacturing, and
- Others
By Application
- Email & Web Security
- Cloud Identity & Access Management
- Data Encryption & Prevention
- Threat Intelligence
- Monitoring & Protection,
- Others
By Service Model
- Software-as-a-Service (SaaS)
- Infrastructure-as-a-Service (IaaS),
- Platform-as-a-Service (PaaS)
By Security Type
- Network Security
- Endpoint Security
- Perimeter Security
- Application Security
- Others
By Country: Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Key Market Players
List of Companies Profiled in the Report:
- McAfee Corp.
- IBM Corporation
- Microsoft Corporation
- Google LLC
- Amazon Web Services, Inc.
- Cisco Systems, Inc.
- Palo Alto Networks, Inc.
- Check Point Software Technologies Ltd.
- Sophos Group PLC (Thoma Bravo)
- Trend Micro, Inc.
Unique Offerings from the Publisher
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. LAMEA Cloud Security Market by Organization Size
Chapter 5. LAMEA Cloud Security Market by Vertical
Chapter 6. LAMEA Cloud Security Market by Application
Chapter 7. LAMEA Cloud Security Market by Service Model
Chapter 8. LAMEA Cloud Security Market by Security Type
Chapter 9. LAMEA Cloud Security Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- McAfee Corp.
- IBM Corporation
- Microsoft Corporation
- Google LLC
- Amazon Web Services, Inc.
- Cisco Systems, Inc.
- Palo Alto Networks, Inc.
- Check Point Software Technologies Ltd.
- Sophos Group PLC (Thoma Bravo)
- Trend Micro, Inc.
Methodology
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