Market Insights Technology Cybersecurity Cyber Solutions

Data Security - Benelux

Benelux

The Data Security market is anticipated to witness substantial growth in the Benelux region.
By 2024, the revenue in this market is projected to reach US$104.60m.
Furthermore, experts predict that the market will continue to expand at a compound annual growth rate (CAGR) of 10.36% from 2024 to 2029, resulting in a market volume of US$171.20m by 2029.
In terms of the average Spend per Employee, the Data Security market is expected to reach US$6.55 in 2024.
This indicates the increasing importance of data security measures in the Benelux region.
When comparing global numbers, it is worth noting that United States is expected to generate the highest revenue in the Data Security market, with an impressive US$2,891.0m in 2024.
This highlights the significant presence and dominance of the United States in this industry.
Benelux is making significant investments in data security to protect its sensitive information and combat cyber threats.

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

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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.