Market Insights Technology Cybersecurity Cyber Solutions

Network Security - Australia

Australia

The Network Security market in Australia is expected to witness a significant surge in revenue, reaching a projected value of AU US$225.80m by the year 2024.
Moreover, this market segment is anticipated to display a robust compound annual growth rate (CAGR 2024-2029) of 9.94%.
As a result, the market volume is projected to expand and reach AU US$362.60m by 2029.
In terms of average Spend per Employee, the Network Security market in Australia is forecasted to reach AU US$15.44 in 2024.
This metric indicates the level of investment and expenditure dedicated to each employee within this market segment.
When examining the global landscape, it is worth noting that United States is expected to generate the highest revenue in the Network Security market, amounting to a staggering US$10,830.0m in the year 2024.
This demonstrates United States' dominance and prominence within the industry on a global scale.
With the rise in cyber threats, Australia is investing heavily in network security to safeguard its critical infrastructure and protect sensitive information.

Key regions: United States, Germany, Saudi Arabia, Brazil, Chile

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.