Market Insights Technology Cybersecurity Cyber Solutions

Application Security - Ukraine

Ukraine

The Application Security market in Ukraine is expected to witness a substantial growth in the coming years.
According to projections, the revenue in this market is set to reach US$2.61m in 2024.
Furthermore, it is anticipated that there will be an annual growth rate of 12.96% (CAGR 2024-2029), resulting in a market volume of US$4.80m by 2029.
In terms of average spend per employee, it is estimated to reach US$0.13 in 2024.
This indicates the level of investment and commitment towards ensuring robust application security measures in the country.
When comparing global figures, it is noteworthy that United States is expected to generate the highest revenue in the Application Security market.
In 2024, the projected revenue for the United States stands at US$3,004.0m.
This highlights the significance of the American market in the global landscape.
Overall, these projections demonstrate the potential growth and importance of the Application Security market in Ukraine, as well as the dominance of the United States in this sector.
Ukraine's application security market is rapidly growing, driven by the country's strong pool of highly skilled cybersecurity professionals.

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.