Data Security - G7

  • G7
  • The Data Security market is expected to see a significant increase in revenue over the next few years.
  • By 2024, it is projected to reach a staggering US$4.08bn.
  • This growth is anticipated to continue at a steady pace, with an annual growth rate (CAGR 2024-2029) of 10.66%.
  • As a result, the market volume is estimated to reach US$6.77bn by 2029.
  • One interesting aspect to note is the average Spend per Employee in the Data Security market.
  • In 2024, it is expected to reach US$10.12.
  • This indicates the value placed on data security as organizations invest in protecting their valuable assets.
  • When comparing revenue on a global scale, it is evident that United States dominates the Data Security market.
  • In 2024 alone, it is projected to generate a substantial revenue of US$2,891.0m.
  • This highlights the economic power and significance of the United States in the G7 countries.
  • Overall, the Data Security market presents a lucrative opportunity for businesses, with substantial revenue growth expected in the coming years.
  • The United States, as a leading player in this market segment, is set to reap significant benefits from this trend.
  • In the G7 country of Japan, the demand for data encryption and secure storage solutions is rapidly increasing due to rising concerns about cyber threats.

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.

Overview

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