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Security Services - Cambodia

Cambodia
  • The Security Services market in Cambodia is expected to witness significant growth in the coming years.
  • According to projections, the market revenue is anticipated to reach US$13.33m by 2025.
  • Furthermore, it is estimated that the market will experience a compound annual growth rate (CAGR) of 7.35% between 2025 and 2029, resulting in a market volume of US$17.70m by the end of the forecast period.
  • In addition to revenue growth, the average Spend per Employee in the Security Services market is also expected to increase.
  • It is projected to reach US$1.42 in 2025, indicating a positive trend in the industry.
  • When comparing global markets, United States is anticipated to generate the highest revenue in the Security Services market sector.
  • In 2025 alone, it is estimated that United States will generate a revenue of US$47.1bn.
  • This highlights the dominance of the US market in terms of revenue generation.
  • Overall, the Security Services market in Cambodia is poised for growth and is expected to contribute significantly to the country's economy.
  • Cambodia's security services market is experiencing significant growth due to increased demand for protection against rising crime rates and political instability.

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: Dec 2024

Source: Statista Market Insights

Analyst Opinion

Driven by the development of digital technologies such as the Internet of Things, data pooling, and AI, company processes were automated, and more of their infrastructures were reliant on IT systems. As more processes were done digitally, hackers had more opportunities to steal company information. Especially during the COVID-19 pandemic, when many industries rushed to find solutions for their employees to work remotely, data vulnerabilities were exposed that led to malicious activities in the form of phishing, malware, and ransomware.

In addition, there are different types of cyberattacks, and to prevent them from damaging company operations, core businesses, and employees, each security service requires a different approach. This complexity has sped up the development of cybersecurity services, which include overarching processes, such as design and integration, consulting, implementation, risk, and threat assessment, as well as professional training and education. By providing a comprehensive security strategy, these services help to protect companies against common cybercrimes.

The Security Services market is the largest part of the Cybersecurity industry in 2023, with US$88 billion, and is expected to reach US$114.7 billion by 2028.

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.

Technology

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Security Services: market data & analysis - BackgroundSecurity Services: market data & analysis - Cover

Key Market Indicators

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

Most recent update: Jan 2025

Source: Statista Market Insights

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