Triton Market Research’s report on the Latin American cyber security market illustrates that the industry is anticipated to proliferate at a CAGR of 10.33% in terms of revenue, during the forecasted period 2019-2028.
The countries reviewed in the Latin American cyber security market are:
• Mexico
• Brazil
• Rest of Latin America
A variety of cyber threats, including cybercrime, online scams and digital surveillance, is faced by Brazil. These may be due to insufficient technical infrastructure, poorly-trained workforce, limited financial resources and lack of cooperation between law enforcement agencies. There is a lack of standardization in gathering the evidence and other forensic procedures, coupled with the insufficient capability to collect cyber intelligence. The absence of a unified government position regarding this issue and the lack of reliable data in Brazil leads to an unbalanced approach to the field of cyber security.
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Different influential entities and individuals tried to determine the future of the country’s cyber security architecture. Hence, law enforcement agencies are now increasingly involved in working on cybercrimes at the national and sub-national levels. Also, people are becoming more aware of these special units. These developments are indicating potential growth in the cyber security market growth in Brazil.
Mexico lacks national governance for cyber security. A lack of a cyber security culture, outdated version technologies and wrong system configurations are the principal vulnerabilities of the country. The Cybersecurity 2016 OAS Report is also focused on the improvement of national capabilities, thereby boosting the confidence in private and public digital services. These factors are likely to pave the way for the growth of the studied market.
In 2016, Dell and EMC Corporation merged to form Dell Technologies. The company provides personal computers, servers, smartphones, TVs, and computer & network security & information security services. It has operations in different regions, including the Middle East. The company provides products, including Dell Technologies Cloud and Dell EMC VxBlock System 1000.
Few companies in the cyber security market are Trend Micro Incorporated, Dell Technologies Inc, Imperva, Cyber Ark Software Ltd, FireEye Inc, AVG Technologies (Acquired By Avast Software sro), Cisco Systems Inc, International Business Machines Corporation, Rapid7, Check Point Software Technologies Ltd, Intel Security (Intel Corporation), Fortinet Inc, Proofpoint Inc, Palo Alto Networks Inc and Symantec Corporation (Broadcom Inc).