Cloud Security - Kenya

  • Kenya
  • Kenya, a country in East Africa known for its diverse landscapes and rich cultural heritage, is also a significant player in the Cloud Security market.
  • In 2024, the projected revenue for this market segment is estimated to reach US$0.79m.
  • This figure is expected to experience a steady annual growth rate of 28.61% from 2024 to 2029, resulting in a market volume of US$2.78m by the end of that period.
  • When it comes to analyzing the Cloud Security market, it is crucial to consider the average Spend per Employee.
  • In Kenya, this metric is projected to reach US$0.03 by 2024, highlighting the country's commitment to investing in robust security measures for cloud computing.
  • While in Kenya is making strides in the Cloud Security market, it's important to note that United States remains the dominant player on a global scale.
  • In 2024, United States is expected to generate a staggering revenue of US$869.2m, solidifying its position as the leader in this market segment.
  • Kenya is witnessing a growing demand for cloud security solutions as businesses prioritize data protection and compliance.

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

 
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Region
 
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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.

Overview

  • Revenue
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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