Market Insights Technology Cybersecurity Cyber Solutions

Cloud Security - Benin

Benin

Benin is a country in West AfriIn 2024, the revenue in the Cloud Security market Benin is projected to reach US$135.20k.
This market is expected to show an annual growth rate (CAGR 2024-2029) of 29.46%, resulting in a market volume of US$491.70k by 2029.
Additionally, the average Spend per Employee in the Cloud Security market in Benin is projected to reach US$0.03 in 2024.
In global comparison, it is worth noting that United States is expected to generate the highest revenue in the Cloud Security market, with an estimated amount of US$869.2m in 2024.
As a journalist with deep knowledge about history and facts, I can provide you with a short, country-specific statement about current trends in the Cloud Security market in Benin: "Benin's Cloud Security market is experiencing steady growth as businesses in the country increasingly prioritize data protection and cybersecurity measures."

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.