"Smart Strategies, Giving Speed to your Growth Trajectory"

South America Cyber Security Market Size, Share & COVID-19 Impact Analysis, By Security Type (Network Security, Cloud Application Security, End-point Security, Secure Web Gateway, Application Security, and Others (Internet Security)), By Enterprise Size (Small and Medium-sized Enterprises and Large Enterprises), By Industry (BFSI, IT and Telecommunications, Retail, Healthcare, Government, Manufacturing, Travel and Transportation, Energy and Utilities, and Others), and Regional Forecast, 2023-2030

Last Updated: June 24, 2024 | Format: PDF | Report ID: FBI107435



Play Audio Listen to Audio Version

South America is the largest region in the global cyber security market. It is projected to grow at a CAGR of 17.7% during the forecast period. The global market for cyber security is projected to grow from USD 153.65 billion in 2022 to USD 424.97 billion by 2030.

Cyber technology has become a vital asset in the region's relationship between the government and society. The government is taking various actions to guarantee the protection of national interests in the cybernetic sector. Brazil is making strengthening regulations on cyber security by implementing robust cybersecurity policies. The country has developed institutions, regulations, and laws related to cybersecurity within the scope of the federal public administration.

Moreover, the increase in cybersecurity instances in Brazil has led to increasing demand for insurance for risks. For instance, according to the National Confederation of Insurers association, cyber risk insurance generated the most significant volume of business in March 2022. Over USD 2.7 million insurance policies were sold, with an increase of 23.4% compared to 2021.

According to IDC, Brazil’s overall security spending is expected to reach nearly USD 1 billion in 2022, with an increase of 10% compared to 2020. Additionally, expenses on security solutions will be around USD 860 million, with cloud security as a key focus for IT decision-makers in Brazil.

In Argentina, there is growing awareness of the importance of cybersecurity among people. According to the National Argentine Cybersecurity Office, Argentine companies financed over USD 60 million in cybersecurity in 2021 and are focusing on investing in cybersecurity during the forecast period.  Moreover, the Argentine Ministry of Security formed a new Federal Cybersecurity Force to educate and equip public units with the latest technologies to fight cyber-attacks.

Our report on the South America cyber security market covers the following countries/regions – Brazil, Argentina, and the Rest of South America.


Increasing Demand for Cloud-based Cyber Security Solutions to Act as a Key Trend

Cloud computing is widely used due to its reliable and flexible architecture. With organizations moving toward a cloud environment, the need for security measures is increasing to safeguard the data from leaks. The hybrid-cloud method involves applications and services that can be configured and hosted locally and can be transferred to the cloud. Most organizations use the hybrid method since it proves to be more secure than affecting the entire thing to the cloud.


Deployment of Security Solutions in BYOD Propels the South America Cyber Security Market Growth

The COVID-19 pandemic enabled companies to include a BYOD strategy as employees migrated to remote locations, resulting in hybrid work environments. Bring-Your-Own-Device (BYOD) and the rising of social media have propelled industries to protect interconnections. Additionally, digital applications connected to the organization are of dynamic vulnerabilities.


Inadequate Budget for Installing the Cyber Security Software to Hinder Market Growth

Cybersecurity software solutions are less comprehensive and have no proper alignment regarding business objectives and security protocols. Moreover, cyber security systems emphasize protecting against external threats more than internal ones. Various reasons, such as lack of experts and professionals in emerging and evolving security solutions, are key detaining factors. The high cost of applying and updating internet security solutions and services hamper the product adoption among Small & Medium Enterprises (SMEs).


In terms of the competitive landscape, Beltis, Infopulse, INCUCA TECH, Exadel, Inc., Sikur, and VaultOne are the key players in the South America market. They are focused on strengthening their product portfolio, active involvement, and distribution network through strategic collaboration and partnerships for the acceleration of product launches, which increase the market share.


  • Beltis (Brazil)

  • Infopulse (Brazil)

  • INCUCA TECH (Brazil)

  • Exadel, Inc. (Brazil)

  • Sikur (Brazil)

  • VaultOne (Brazil)


  • February 2023: Accenture acquired Morphus, a Brazil-based cyber defense, cyber threat intelligence services, and provider of risk management, increasing its practice capabilities in Brazil. This acquisition will carry over 230 highly skilled professionals, making Accenture a major cybersecurity professional services provider in Brazil.

  • July 2022: Exadel acquired Motion Software, a software engineering company specializing in block chain, analytics, AI, healthcare, and eLearning. This acquisition will allow Exadel to increase its presence across Europe by integrating with Motion's small work platform to open new opportunities for streamlining the matchmaking process for EU clients.

  • February 2022: Sikur co-developed Sikur One by partnering with Brazilian manufacturer Multilase to track the Zero Trust Concept. This security framework enables the users of the Sikur One to continuously validate themselves and authorize their IDs to maintain access to the phone and the data stored in it.


To gain extensive insights into the market, Request for Customization

The South America cyber security market research report provides qualitative and quantitative insights into the market and a detailed analysis of the South America market size & growth rate for all possible segments in the market. Along with the market forecast, the research report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are an overview of the adoption of technology, an overview of price analysis, an overview of the regulatory scenario by key countries, new product launches, and key industry developments – mergers, acquisitions & partnerships.

Report Scope & Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period


Growth Rate

CAGR of 17.7% from 2023 to 2030


Value (USD Billion)


By Security Type, Enterprise Size, Industry, and Country

By Security Type

  • Network Security

  • Cloud Application Security

  • End-point Security

  • Secure Web Gateway

  • Application Security

  • Others (Internet Security)

By Enterprise Size

  • Small & Medium Enterprises (SMEs)

  • Large Enterprise

By Industry

  • BFSI

  • IT and Telecommunications

  • Retail

  • Healthcare

  • Government

  • Manufacturing

  • Travel and Transportation

  • Energy and Utilities

  • Others

By Region

  • South America (Enterprise Size, Security Type, Industry, Country)

    • Brazil (By Industry)

    • Argentina (By Industry)

    • Rest of South America (By Industry)

Frequently Asked Questions

Growing at a CAGR of 17.7%, the market will exhibit steady growth in the forecast period (2023-2030).

Deployment of security solutions in BYOD is the major factor driving the market growth.

Beltis, Infopulse, INCUCA TECH, Exadel, Inc., Sikur, and VaultOne are the major market players in the South America market.

Brazil dominated the market in 2022.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • 2019-2030
  • 2022
  • 2019-2021
  • 60

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Information & Technology Clients


Related Reports

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.