Market Insights Technology Cybersecurity Cyber Solutions

Application Security - Portugal

Portugal

The Application Security market in Portugal is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$3.69m in 2024.
This growth is expected to continue at an annual growth rate of 12.13% (CAGR 2024-2029), resulting in a market volume of US$6.54m by 2029.
When it comes to spending, the average Spend per Employee in the Application Security market is projected to reach US$0.68 in 2024.
This indicates the importance of investing in robust security measures to protect valuable data and systems.
In terms of global comparison, United States is expected to generate the highest revenue in the Application Security market, with an estimated revenue of US$3,004.0m in 2024.
This highlights the dominance of the US market in this sector.
As in Portugal continues to develop and strengthen its technological infrastructure, the Application Security market presents significant opportunities for growth and investment.
Portugal's growing cybersecurity ecosystem is driving increased demand for application security solutions to protect against cyber threats.

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

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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.