Market Size of Peru Cybersecurity Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 8.52 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Peru Cybersecurity Market Analysis
The Peru Cybersecurity Market is expected to register a CAGR of 8.52% during the forecast period.
- Cybersecurity is becoming increasingly crucial for Peruvian enterprises, governments, and individuals as the country's digital ecosystem continues to expand and evolve. With digital economy growth comes a significant rise in cyber threats, underscoring the pressing need for robust security measures. Such developments are necessitating the demand for cybersecurity solutions and services in businesses to strengthen security measures.
- However, Peru's organizations are grappling with challenges such as a scarcity of cybersecurity talent, a nascent digital landscape, and limited access to advanced security solutions that can effectively manage risks and streamline security processes. Peru's government is actively bolstering the nation's cybersecurity, a move that's poised to significantly impact market growth.
- A notable example is the establishment of Peru's National Centre for Digital Security. This initiative aims to bolster the nation's cybersecurity and proactively address associated risks. The Center's mandate spans a comprehensive spectrum, from identifying and protecting against digital threats to collaborating with public and private entities.
- Furthermore, the country implemented a Cybersecurity Framework for the private sector. This framework aims to identify and safeguard information assets, detect security events, and establish protocols for responding to and recovering from cybersecurity incidents.Such developments are positively driving the businesses in the country to establish strong cybersecurity mesures, thus positively driving the demand for cybersecurity solutions and services.
- Moreover, Cyberattacks and data breaches have surged to the forefront as the primary threats confronting companies in Peru. The Global Risk Management Survey 2023/2024 by AON Plc highlights this, ranking cyberattacks and data breaches as the 3rd most pressing risk for Peruvian companies and 4th as a future risk. Such data indicates strong demand for cybersecurity solutions and services in businesses to enhance cyber resillency.
