Market Insights Technology Cybersecurity Cyber Solutions

Cloud Security - Sri Lanka

Sri Lanka

The Cloud Security market in Sri Lanka is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach US$675.00k by 2025.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 17.94% (CAGR 2025-2029), resulting in a market volume of US$1,306.00k by 2029.
In terms of spending, the average Spend per Employee in the Cloud Security market is estimated to be US$0.08 by 2025.
This indicates the level of investment made by companies in Sri Lanka to ensure robust security measures for their cloud-based operations.
When considering global comparisons, it is noteworthy that United States is expected to generate the highest revenue in the Cloud Security market, reaching a staggering US$1,142.0m by 2025.
This demonstrates the dominance of the US market in this segment.
Overall, the Cloud Security market in Sri Lanka is poised for substantial growth, with increasing revenues and significant investments in ensuring secure cloud infrastructures.
Sri Lanka's cloud security market is rapidly growing, driven by increased adoption of cloud technologies and rising concerns about data protection.

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

Market

Region

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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.