Market Insights Technology Cybersecurity Security Services

Managed Services - South Africa

South Africa

The Managed Services market in South Africa is expected to experience significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$93.03m South_African Rand by 2024.
Furthermore, the market is predicted to exhibit a steady annual growth rate of 1.86% from 2024 to 2029, resulting in a market volume of US$102.00m South_African Rand by the end of 2029.
When considering the average Spend per Employee in the Managed Services market, it is anticipated to reach US$3.70 South_African Rand in 2024.
This indicates the level of investment and expenditure within the industry, highlighting the potential for growth and development.
In terms of global comparison, United States is expected to generate the highest revenue in the Managed Services market, with an estimated amount of US$10,260.0m in 2024.
This demonstrates the dominance of the United States in this particular market segment.
These figures reflect the promising prospects of the Managed Services market in South Africa, showcasing its potential for growth and its position in the global market landscape.
The demand for Managed Services in South Africa is rapidly growing, as businesses seek to outsource IT operations for improved efficiency and cost savings.

Key regions: India, Germany, Canada, Europe, Belgium

Market

Region

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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.