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Data Security - Ghana

Ghana
  • Revenue in the Data Security market is projected to reach US$1.19m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.92%, resulting in a market volume of US$2.09m by 2029.
  • The average Spend per Employee in the Data Security market is projected to reach US$0.08 in 2024.
  • In global comparison, most revenue will be generated United States (US$2.9bn in 2024).

Definition :
The Data Security market refers to the market for security measures and tools that protect the availability, resilience, integrity, and confidentiality of sensitive digital data by mitigating the risk associated with data storage and handling. Data security methods are employed to prevent unauthorized access, data corruption, system disaster, or data theft, using an encryption process, for example.

The primary objective of data security is to enhance sustainable trust and to secure the privacy of data in an increasingly digital environment.

Additional information:

The Data Security market comprises revenues, revenue change, average spend per employee, and the market shares of the key market players. Market values represent revenues that are generated by primary vendors, either directly or through distribution channels (manufacturer prices, excluding VAT). Reported market revenues include consumer spending (B2C), business spending (B2B), and government spending (B2G). Detailed definitions of each market can be found on the corresponding market pages. Key players in the market include Microsoft, Crowdstrike, and Cisco.

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In-Scope

  • Data encryption, such as Microsoft Azure Information Protection, IBM Guardium Data Encryption, and Sophos SafeGuard Encryption
  • Data loss prevention, such as Trend Micro Integrated Data Loss Prevention, Symantec Data Loss Prevention (DLP), and McAfee Total Protection for Data Loss Prevention
  • Data access control, such as Microsoft Azure Active Directory (Azure AD), Varonis Data Security Platform, and Symplified Access Management (Trustwave)

Out-Of-Scope

  • Data storage, such as Google Cloud Storage, Pure Storage, and AWS
  • Application security solutions, such as Microsoft, Broadcom, and Check Point Software
  • Cloud security solutions, such as Tenable, Cisco, and Palo Alto Network
  • Network security solutions, such as Palo Alto Networks, Check Point, and Juniper Networks
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Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Key Players

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Global Comparison

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jun 2024

    Sources: Statista Market Insights, Financial Statements of Key Players, National Cyber Security Organizations

    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.

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    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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