Market Insights Technology Cybersecurity Cyber Solutions

Data Security - China

China

China is expected to see significant growth in the Data Security market.
By 2024, the projected revenue is estimated to reach US$1.82bn.
This is an impressive figure that highlights the potential of this market segment in the country.
Looking ahead, the market is expected to continue growing at an annual growth rate of 12.43% from 2024 to 2029.
This will result in a market volume of US$3.27bn by 2029.
In terms of average Spend per Employee, in China is projected to reach US$2.31 in 2024.
This indicates the level of investment that companies in the country are willing to make in order to ensure data security.
While in China shows great potential in this market, it is worth noting that United States is expected to generate the highest revenue globally.
In 2024, the projected revenue United States is estimated to be US$2,891.0m.
This showcases the strong position of the United States in the Data Security market.
Overall, in China is poised to make significant strides in the Data Security market, with impressive revenue projections and a strong focus on ensuring data security.
China is leading the way in data security with its strict regulations and advanced technologies.

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

Market

Region

Region comparison

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.