Market Insights Technology Cybersecurity Cyber Solutions

Data Security - Bangladesh

Bangladesh

in Bangladesh, a country in South Asia, is anticipated to witness significant growth in the Data Security market.
According to projections, the revenue in this market is expected to reach US$4.59m in 2024.
Moreover, it is estimated that the market will experience a compound annual growth rate (CAGR 2024-2029) of 16.90%, resulting in a market volume of US$10.02m by 2029.
In terms of the average Spend per Employee, the Data Security market in Bangladesh is projected to reach US$0.06 in 2024.
This indicates the amount spent on data security per employee within the sector.
When compared globally, United States is expected to generate the highest revenue in the Data Security market, with an estimated value of US$2,891.0m in 2024.
This emphasizes the dominant position of the United States in this market segment.
The demand for data security solutions in Bangladesh has skyrocketed due to the increasing number of cyber attacks targeting businesses and individuals in the country.

Key regions: Brazil, Saudi Arabia, Chile, Germany, Belgium

Market

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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.