The cybersecurity industry is a multihundred-billion-dollar global market, and there’s no end in sight. Cybercrime is a worldwide problem, and it continues to rise in practically every country.
While North America remains the obvious market leader, the rest of the world is starting to catch up. Asia Pacific and Latin America are two regions for investors and startups to keep an eye on.
The Cybersecurity Ventures Q4 2015 Asia-Pacific Report states that market expansion is being driven by DDoS attacks, adoption of cloud computing and mobile devices.
Highlights from the report:
- Organizations in the Asia Pac region were forecast to spend $230 billion to deal with cybersecurity breaches in 2014 — the highest amount for any region in the world, according to International Data Corporation (IDC) and the National University of Singapore survey, as reported in Marsh’s “Cybercrime in Asia” 2014 report.
- A report from Research and Markets forecasts the cybersecurity market in the Asia-Pacific region to grow at a CAGR of 15.15 percent over the period of 2014 to 2019.
- The Asia Pacific cybersecurity market contributes 17.21 percent of the global market and will grow to 21.16 percent by 2019, according to MicroMarketMonitor.
- According to a recent report published by ApacMarket.com, titled “Asia-Pacific Mobile Security Research Report, 2014 – 2020,″ the Asia-Pacific mobile security market is expected to garner $7.5+ billion by 2020, registering a CAGR of 42.9 percent during 2015 to2020.
The Cybersecurity Ventures Q4 2015 Latin America Report states that cybercrime and cybersecurity spending are on the rise in a maturing Latin American region.
Highlights from the report:
- The Latin American cybersecurity market is expected to grow from $5.29 billion in 2014 to $11.91 billion in 2019, at a CAGR of 17.6 percent for the period of 2014 to 2019, according to research firm MicroMarketMonitor. This market contributes 5.18 percent of the global market and will slightly grow to 7.65 percent by 2019. The Brazilian cybersecurity market is expected to grow to $7.29 billion during this time period.
- A recent InformationWeek / Dark Reading article stated that Brazil loses over $8 billion a year to Internet crime, making it the second-largest cybercrime generator in the world (ranking No. 1 in Latin America). And in terms of numbers, Brazil loses over $8 billion a year to Internet crime, which is the No. 1 economic crime in the country, compared to the rest of the world, where cybercrime is ranked fourth.
- “Cybersecurity in Mexico,” published in June 2015 by PwC Mexico – which is a member firm of PricewaterhouseCoopers International Limited (PwCIL) – stated that “Mexico ranks as the second country with the largest number of cyber-attacks in Latin America, after Brazil. The constant increase in connectivity is one of the main factors that make cybercriminals direct their attacks against Mexico. In 2014, cyber-attacks have grown 40 percent in Mexico.”
Go east, or go south. Whether your destination is Asia-Pac or Latin America, you will find an emerging market filled with cybersecurity startups seeking capital, emerging players seeking partners and corporations seeking cyber solutions to combat their digital adversaries.
Steve Morgan is founder and CEO at Cybersecurity Ventures and editor-in-chief of the Cybersecurity Market Report and the Cybersecurity 500 list of the world’s hottest and most innovative cybersecurity companies. Follow Steve on Twitter or connect with him on LinkedIn.