Market Insights Technology Cybersecurity Cyber Solutions

Cloud Security - Germany

Germany

Germany, a country known for its technological advancements and strong focus on data protection, is also a key player in the Cloud Security market.
In 2024, the projected revenue in this market segment is expected to reach US$113.00m.
This signifies the steady growth and increasing demand for cloud security solutions within the country.
Looking ahead, the market is anticipated to exhibit a promising compound annual growth rate (CAGR) of 25.34% between 2024 and 2029.
This substantial growth is projected to result in a market volume of US$349.60m by 2029.
This suggests a positive outlook for the Cloud Security market in Germany, driven by factors such as the growing awareness of cybersecurity threats and the need for robust data protection measures.
Furthermore, when considering the average Spend per Employee in the Cloud Security market, in Germany is projected to reach US$2.48 in 2024.
This metric reflects the level of investment and resources dedicated to ensuring a secure cloud infrastructure within German businesses and organizations.
In a global comparison, it is worth noting that United States is expected to generate the highest revenue in the Cloud Security market, with a projected amount of US$869.2m in 2024.
This highlights the dominance of the US market in this sector, but also emphasizes the potential for growth and opportunities for Germany to further strengthen its position in the Cloud Security market.
Germany's strict data protection laws and focus on privacy make it a prime market for cloud security solutions.

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.