Market Insights Technology Cybersecurity Cyber Solutions

Application Security - Bangladesh

Bangladesh

The Application Security market in Bangladesh is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach US$4.43m by 2024.
Furthermore, it is anticipated that the market will experience a robust compound annual growth rate (CAGR 2024-2029) of 18.52%.
This growth trajectory will result in a market volume of US$10.36m by 2029.
When it comes to the average Spend per Employee in the Application Security market, it is estimated to reach US$0.06 in 2024.
This metric indicates the amount of money invested in each employee working in this sector.
In terms of global comparison, United States is expected to dominate the market, generating the highest revenue of US$3,004.0m in 2024.
This showcases United States' leading position in the global Application Security market.
Despite the growing importance of application security, Bangladesh lags behind in adopting robust measures to protect its digital infrastructure.

Key regions: Spain, Belgium, Brazil, India, Chile

Market

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Currency

Methodology

Data coverage:

Data encompasses B2C, B2B and B2G enterprises. Figures are based on security spending excluding VAT and the number of cyberattacks.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial statements of the market-leading companies and industry associations, national statistical offices, and specific countries’ security organizations (e.g., German Cyber Security Council, Canadian Centre for Cyber Security). Furthermore, we use relevant key market indicators and data from country-specific associations, such as GDP and internet penetration. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. Possible techniques are, for example, exponential trend smoothing and the autoregressive integrated moving average (ARIMA) forecasting algorithm. The main drivers are GDP, internet users, level of digitization, and consumer attitude towards data and IT security.

Additional notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.