Market Insights Technology Cybersecurity Cyber Solutions

Cloud Security - Armenia

Armenia

Armenia is expected to witness significant growth in the Cloud Security market.
By 2025, the projected revenue for this market segment is estimated to reach US$382.70k.
This revenue is expected to experience a steady annual growth rate of 27.39% between 2025 and 2029, resulting in a market volume of US$1,008.00k by the end of 2029.
When it comes to the average Spend per Employee in the Cloud Security market, in Armenia is projected to reach US$0.28 in 2025.
This indicates the level of investment and resources allocated towards ensuring robust cloud security measures within organizations.
However, in global comparison, United States is expected to generate the highest revenue in the Cloud Security market.
In 2025, the projected revenue for the United States alone is estimated to be a staggering US$1,142.0m.
This highlights the dominant position of the United States in this market segment.
Armenia's cloud security market is experiencing rapid growth as local businesses prioritize data protection and compliance with international cybersecurity standards.

Key regions: Canada, Chile, Brazil, Spain, Germany

Market

Region

Region comparison

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.