What does the latest report say about the growth of the Latin America cyber security market?

Latin America Cyber Security Market Forecast by 2033

Market Size in 2024: USD 21.6 Billion
Market Forecast in 2033: USD 40.9 Billion
Market Growth Rate 2025-2033: 6.80%

The Latin America cyber security market reached USD 21.6 billion in 2024 and is projected to expand to USD 40.9 billion by 2033, growing at a CAGR of 6.80% during 2025-2033. This growth is driven by stronger privacy regulations, increasing cloud adoption, and the rising demand for identity and access management (IAM) solutions across industries.

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Growth Drivers of the Latin America Cyber Security Market

Strengthening Privacy Regulations and International Cooperation

Since then, a growing number of Latin American countries have begun enacting privacy and data protection laws to secure sensitive data in their respective countries, requiring companies to have better cybersecurity infrastructure. In February 2024, LAC and the EU established a cybersecurity cooperation initiative to improve bi-regional cooperation. Such regulations add to consumer data protections and increase pressure on companies to invest in more advanced cybersecurity systems, where reputational and financial incentives push companies to minimize risks.

Rising Cloud Adoption and Security Operations Centers

The digital adoption and telecommuting trends of Latin America have greatly accelerated the transition to the cloud infrastructure, and also brought cloud security issues such as data leaks and vulnerabilities, so some companies are developing cloud security and monitoring solutions. In March 2024, Eviden opened a new security operations center (SOC) in Monterrey, Mexico to help regional organizations improve their cybersecurity services. Such developments highlight the increasing importance of cloud security for the region's digital landscape.

Growing Focus on Identity and Access Management (IAM)

With increasing organizational digital transformation, IAM solutions are being adopted worldwide to provide secure access to enterprise systems and data, prevent forbidden access, combat insider threats, and meet compliance. In August 2024, Assured Data Protection expanded its scope by forming a joint venture with Rubrik in Latin America to provide cyber resiliency and IAM services to enterprise clients. The selection of the IAM reflects the increasing demand for authentication and access control solutions in both the private and public sectors.

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Latin America Cyber Security Market Segmentation

Analysis by Security Type

• Network Security
• Cloud Security
• Application Security
• End-Point Security
• Wireless Network Security
• Others

Analysis by Component

• Hardware
• Solution
o Threat Intelligence and Response
o Identity and Access Management
o Data Loss Prevention
o Security and Vulnerability Management
o Intrusion Prevention System
o Others
• Services

Analysis by Deployment

• Cloud-based
• On-premise

Analysis by End User

• Banking, Financial Services, and Insurance
• Healthcare
• Manufacturing
• Retail
• Government
• IT and Telecommunication
• Others

Analysis by Country

• Brazil
• Mexico
• Argentina
• Colombia
• Chile
• Peru
• Others

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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Latin America Cyber Security Market News

• August 2024: Assured Data Protection expanded into Latin America through a joint venture with Rubrik, offering advanced cyber resiliency solutions.
• March 2024: Eviden launched a new Security Operations Center (SOC) in Monterrey, Mexico, to deliver advanced cybersecurity services.
• February 2024: Latin America and the Caribbean (LAC) partnered with the European Union (EU) to strengthen cybersecurity cooperation.
• Regional governments introduced stricter data protection regulations in 2024, compelling businesses to upgrade their cybersecurity infrastructure.
• Enterprises across Latin America increased investments in IAM and cloud security solutions to address rising cyber threats.

Key highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.

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IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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