Global Cybersecurity Market to See Significant Growth in APAC, Latin America

While the U.S. continues to dominate – with more than 80 percent share of the global market in 2015 – a recent report by Zion Market Research forecasts Asia Pacific and Latin American regions to experience considerable future growth in demand for cybersecurity solutions.

Rapid growth is expected in Asia Pacific in the near future due primarily to an increase in cyber crime and demand for cybersecurity in emerging economies within the region. Latin America is forecast to show substantial development over the next five years, with Brazil expected to have the most potential.

Kaspersky Labs has also recently highlighted Latin America as a future growth region as criminals catch up with more advanced techniques. The security firm says that 30 percent of malicious email received by Latin American users now contains ransomware content, demonstrating a shift from the trojan attacks that cyber criminals previously favored.

Europe was the second largest cybersecurity market in 2015 and is set to remain stable over the next five years while North America experiences moderate growth. Overall, Zion predicts the global cybersecurity market to grow from USD $105.45 billion in 2015 to USD $181.77 billion in 2021.

KEYWORDS: cybersecurity market growth international security

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Kylie Bull began her career in television news at ITN in the UK before moving to print journalism. She has been an editor at IHS Jane's for sixteen years, where she continues today, and was recently the managing editor at Homeland Security Today. Bull has reported on a wide variety of security, geopolitical and counterterrorism subjects and has interviewed world leaders such as Russian President Vladimir Putin and UK Prime Minister Theresa May.