How Cyber Security Market Is Positioned In Brazil
The Brazilian economy is the largest economy in Latin America and the world’s 6th largest economy. Brazil is undergoing a digital revolution with few parallels in the developing world. The rate of digital penetration and social media adoption has risen exponentially over the past decade. Over 50 percent of Brazilians are active Internet users, & Brazilian financial institutions were early adopters of online services. Cyber security and online fraud are major concerns, with annual losses reaching billions of dollars, Latin America Cyber Security Market, Cybecrime in Brazil, McAfee Antivirus Market Share.
The market has increased from USD ~ billion in 2011 to USD ~ billion in 2016 growing at a CAGR of ~% during the period. In 2011, hackers have attacked Brazilian army computers. This has forced the authority to implement cyber defense project, which is responsible for preventing the cyber attacks and wars. The Strategic Cyber Defense Project has proved successful in preventing the nation from cyber crimes and afterwards cyber security industry in the country is governed by the military.
In 2014, Brazil has faced more than one million cyber attacks against both military and civilian’s internet connected computers. ~ % of these attacks were fraud attempts, ~ % were scans on computer and ~ % was cyber attacks to crash the operations of a specific service. To prevent these attacks military started using software and services to detect these viruses and to protect the computers in future from these cyber attacks.
Additionally, Brazil hosted the FIFA world cup in 2014 and Summer Olympic Games in 2016, which has increased the number of foreign tourists in the country. In order to prevent cybercriminals and international scams, the military has imposed various rules & regulations and has implemented the cyber security solutions to prevent the scams, hence driving the market. The companies in the country have expanded their service line and were regularly involved in research activities for developing new products.
Market Segmentation By Security Type
Cloud based security is the largest contributor in the industry. The increasing number of virtualized and cloud networks in the country is boosting the demand for cloud based security. Cloud based security in the country is growing at a rapid pace as this type of cyber security is cost effective and covers wide range of network.
Wireless security contributed ~% in the revenues of the industry in 2016. A wireless security protects a wireless network from unauthorized and malicious attacks. Wireless network security involves encryption and security of wireless communications.
Network endpoint security is the third largest contributor in the industry. Endpoint security system refers to a system that consists of security software located in a centrally managed and accessible server or gateway within the network.
Application security is the fourth largest segment in the industry with the percentage share of ~% in 2016. Application security solutions are the measures taken to improve the security of an application.
Content security helps in blocking unwanted network traffic prior to its entry into an organization’s network.
Market Segmentation By Solutions
Indentify and Access Management (IAM) dominated the industry in terms of revenues in year 2016. IAM is used to provide authorized access to the employees and other authorized personnel to organizational systems.
Data security has contributed ~% in the industry revenues. Data security offers privacy measures to stop unauthorized access to computers, databases and websites. Brazil is ranked second in the world for data loss through cyber attacks. The companies in the country especially from BFSI sectors are facing huge loss. The companies are demanding high quality data security solutions to prevent the data from cyber crimes.
The third largest category is Firewalls+IPS+IDS+antivirus Endpoint with the share of ~% followed by security & vulnerability management ~%, encryption ~% & UTM ~%.UTM solution helps the administrators to manage wide variety of security related applications in the websites without slowing the network of the system.
Topics Covered in the Report
- Latin America Cyber Security Market
- Cyber crime in Brazil,
- McAfee Antivirus Market Share
- Brazil Data Security Market
- Brazil Firewall Market
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Ankur Gupta, Head Marketing & Communications