Market Insights Technology Cybersecurity Cyber Solutions

Network Security - North Macedonia

North Macedonia

The Network Security market in North Macedonia is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$1.49m in 2024.
Furthermore, it is anticipated that the market will experience a compound annual growth rate (CAGR) of 11.52% from 2024 to 2029, resulting in a market volume of US$2.57m by the end of 2029.
When considering the average Spend per Employee in the Network Security market, it is estimated to reach US$1.57 in 2024.
This indicates the amount of investment per employee in this sector.
In terms of global comparison, United States is projected to generate the highest revenue in the Network Security market.
In 2024, it is expected to reach a staggering US$10,830.0m.
This showcases the dominant position of the United States in this industry.
Overall, these figures highlight the potential growth and significance of the Network Security market in North Macedonia.
The projected revenue and market volume demonstrate the opportunities that lie ahead for businesses in this sector.
North Macedonia is experiencing a growing demand for advanced network security solutions due to increasing cyber threats.

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.