South Africa Cyber Security Market report thoroughly covers the market by types, deployment and verticals. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas, key performance indicators and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
South Africa Cyber Security Market Synopsis
South Africa cyber security market is anticipated to witness strong growth over the coming years on account of rapid growth in internet users combined with growing dependability on e-governance, IoT, commercial services and social networking that has upturned the vulnerability of both inhabitants and government to cyber criminals. However, the ongoing global pandemic COVID-19 hampered the overall economic growth of South Africa, thus, restraining the growth of the cyber security market as well.
According to the publisher, South Africa Cyber Security Market size is projected to grow at CAGR of 12.9% during 2021-27. For proper functioning and implementation of cybersecurity policy in the country, several government departments and organizations such as Centre for Scientific and Industrial Research (CSIR), the State Information Technology Agency (SITA), the State Security Agency (SSA), the South African Police Service (SAPS), the Hawks, the South African National Defence Force (SANDF), and the Department of Communications and Digital Technologies (DCDT) are working together. Such strong governmental support for sectors such as telecoms, retail, finance and health would amplify the demand for enterprise cybersecurity products, services and consumer software in the country. Based on types, enterprise cybersecurity services dominated the market revenue share in 2020 in the overall cybersecurity market owing to factors such as cost considerations, focus on core competencies, lesser time consumption and increasing share of cloud-based service model.
Market Analysis by Verticals
Based on verticals, the BFSI dominated the market revenue share in 2020 owing to the increased spending on security solutions and services to remain prepared against any cyberattack in South Africa as the ongoing pandemic has increased the ransomware attacks on banks, and financial institutions. Further, the BFSI domain would show substantial growth in coming years on account of an increase in the number of cyber-attacks on the banking sector and growing adoption of cloud-based security solutions and mounting risk of data loss. According to the report published by South African Banking Risk Information Centre 2019, around 16,296 acts of cybercrime were done alone to banking sector thereby resulting in the loss of around $15 million and could increase in near future.
Market Analysis by Types
On the basis of types, Enterprise Cyber Security Services acquired the major revenue share in the market for the year 2020 owing to the increased number of cyber-attacks across all verticals which resulted in high demand of the services for hardware support, consultation services related to antivirus software. Additionally, the South African businesses and population faced consistent attacks during the pandemic and incurred heavy losses due to which the demand for cybersecurity services has increased in the country and the same trend is expected to continue in the coming years.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2017 to 2020.
- Base Year: 2020
- Forecast Data until 2027.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
- Key Highlights of the Report
- South Africa Cyber Security Market Overview
- South Africa Cyber Security Market Outlook
- South Africa Cyber Security Market Forecast, Until 2027
- Historical Data and Forecast of South Africa Cyber Security Market Revenues, for the period 2017-2027
- Market Drivers and Restraints
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Competitive Benchmarking
- South Africa Cyber Security Market Trends
- South Africa Cyber Security Market Share, By Players
- Company Profiles
- Key Strategic Recommendation
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Types
- Consumer Software
- Enterprise Cyber Security Products
- Identity and Access Management (IAM)
- Data Loss Prevention (DLP)
- Endpoint Protection
- Firewall
- Intrusion Prevention System (IPS)
- Secure Email Gateway (SEG)
- Secure Web Gateway (SWG)
- Security Information and Event Management (SIEM)
- Testing
- Other Software (DDoS, Risk and Compliance etc.)
- Enterprise Cyber Security Services
- Managed Security Services
- Outsourcing, Implementation, and Hardware Support
- Consulting Services
By Deployment
- Cloud
- On-Premises
- By Verticals
- Government and Defense
- BFSI
- Retail
- Healthcare and Hospitality
- IT and Telecom
- Energy and Utilities
- Manufacturing
- Others (Water Treatment Plants, Chemical Industry etc.)
Table of Contents
1. Executive Summary
Companies Mentioned
- NortonLifeLock Inc
- McAfee, Inc
- Oracle Corporation
- Fortinet, Inc
- IBM Corporation,
- Cisco Systems Inc.
- Dell Technologies Inc
- Check Point Software Technologies Ltd.,
- Microsoft Corporation
- Palo Alto Networks, Inc.
