• Rising online banking population in the country will create growth opportunities for cyber security providers.
• Increasing smartphone penetration especially growth in the mobile applications market will drive the demand for cyber Security solutions in the country.
• Growing number of startups in the country, majorly in IT and finance sector will amplify the market size of the cyber security Industry.
Brazil cyber security market is expected to grow at a robust rate in coming future owing to the increasing use of smart phones, online banking transactions and growing number of start-ups. Moreover, rising acceptance of Bring Your Own Device (BYOD) trend among organizations supplemented by enhanced network connectivity will extensively leverage the businesses. This will widely lead to the generation and consumption of an enormous amount of data traveling from the organizations to the mobile devices such as smartphones, laptops, tablets, and others. This trend is expected to result in the increased demand for cyber security solutions to prevent the data loss due to cybercrime.
Rising use of internet and smart phones has increased the e-commerce industry in the country. Brazil is well positioned when compared to other powerful emerging economies. Brazil has approximately 119 million Internet users in the country with the share of 54.2% in the total population in 2016. Growing smartphone penetration in the country has surged the demand for broadband Internet connections. The digital shift towards e-commerce, the internet and smartphones has raised the security concern among the population. This has positively impacted the demand for cyber security services from both enterprises and residential sector.
Ken Research in its latest study, Brazil Cyber Security Market Outlook to 2021 suggested Symantec, Avast, McAfee and Kaspersky Lab will continue their dominance but have to face fierce competition from the counterparts. The companies in the industry have plans to develop innovative products which can offer high scan speed and detection process.
The Brazil Cyber Security market is estimated to register a positive CAGR during 2016-2021. Inclining risk of cyber threats, increasing awareness about cyber security solutions, rising internet & smart phone penetration will be the key drivers for the growth of the remittance and bill payment industry in the country.
The report provided information on Brazil cyber security market, Brazil antivirus & antimalware market, Global cyber security market, Market segmentation, Future growth drivers competitive landscape of major companies including Symantec, Avast, McAfee and Kaspersky Lab, Trustwave and others.