Africa Cyber Security Market worth $2.32 BN by 2020, According to a New Study on ASDReports

Friday 26 June 2015, Amsterdam

The report, now available on ASDReports “Africa Cyber Security Market by Solution (IAM, Risk and Compliance Management, IDS/IPS, Encryption, Antivirus and Antimalware, Firewall, DLP, UTM, Security and Vulnerability management, Disaster Recovery and Business Continuity, DDOS Mitigation, Web Filtering) by Service, by Verticals, by Country - Global forecast to 2020”, defines and segments the cyber security market in Africa into different sub-segments with an in-depth analysis and market size estimation. It also identifies the drivers and restraints for this market with in-sights on trends and opportunities.

The report has broadly segmented the Africa cyber security market by sub-segment: network security, endpoint security, content security, application security, industrial control system security, and cloud security; by solution: identity and access management, risk and compliance management, IDS/IPS, encryption, antivirus and antimalware, firewall, data loss protection, UTM, security and vulnerability management, disaster recovery and business continuity, DDoS mitigation, web filtering, and others; by service: consulting, design and integration, risk and threat assessment, managed security service, and training and education; by vertical: Banking Financial Services, and Insurance (BFSI), aerospace, defense, and intelligence, government, energy and utilities, manufacturing, retail and wholesale distribution, telecommunication, transportation, and other verticals; and by country  Kenya, South Africa, Nigeria, Morocco, and others.

The major force driving this market is expected to be the increasing focus on government regulations and compliance requirements and penetration of mobile devices and internet subscription. The enterprises across the region are expected to start investing in cyber security projects in the coming years as the African region has been facing continuous sophisticated cyber-attacks.

The Africa cyber security market is estimated to grow from $0.92 Billion in 2015 to $2.32 Billion by 2020, at a compound annual growth rate (CAGR) of 20.41% from 2015 to 2020. On the basis of countries, South Africa is expected to be the largest market in terms of market size, while emerging economies like Morocco and Nigeria are expected to experience increased market traction with high CAGRs during the forecast period.