Market Insights Technology Cybersecurity Cyber Solutions

Cloud Security - Denmark

Denmark

Denmark is expected to witness significant growth in the Cloud Security market.
By the year 2024, the projected revenue in this market segment is estimated to reach US$5.30m Danish kroner.
This growth is expected to continue with an annual growth rate of 25.95% from 2024 to 2029.
As a result, the market volume in Denmark is projected to reach US$16.80m Danish kroner by 2029.
When it comes to the average Spend per Employee in the Cloud Security market, in Denmark is anticipated to reach US$1.63 Danish kroner in 2024.
This highlights the country's commitment to investing in the security of cloud-based technologies.
In terms of global comparison, it is worth noting that United States is expected to generate the highest revenue in the Cloud Security market.
In 2024 alone, the projected revenue United States is estimated to be US$869.2m.
This signifies the dominance of the United States in this market segment.
As in Denmark continues to invest in Cloud Security market, it is poised to become a key player in this market, contributing to its overall growth and development.
Denmark is at the forefront of cloud security with its robust framework and strong focus on data protection.

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

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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.