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The Latin America antivirus software market size is estimated to grow at a CAGR of 12.83% between 2022 and 2027. The market size is forecast to increase by USD 295.3 million. The growth of the market depends on several factors, including an increase in the use of mobile devices, the emergence of innovative viruses and cyberattacks, and an increasing IT security budget.
This Latin America antivirus software market report extensively covers market segmentation by application (enterprise and individual), and device (laptops, desktops, and mobile and tablets). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increase in the use of mobile devices is notably driving the market growth, although factors such as complex IT infrastructure may impede the market growth. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increase in the use of mobile devices is notably driving market growth. One of the major reasons behind this is the rise in Internet access through such devices, which raises the possibility of cyber threats. Additionally, the increased access to important data and information due to the use of mobile devices for personal and professional purposes increases the possibility of unauthorized access if a mobile device is stolen. Furthermore, the acceptance of mobile devices for m-commerce, bill payment, and GPS is growing along with technological advancements. Thus, mobile devices need to be protected from hackers with high-level security when accessing confidential information. As a result, there is a huge demand for cutting-edge cybersecurity solutions.
There is a greater need for the exchange of global data and information as businesses expand internationally. Employee travel across borders has significantly increased as a result of business expansion on a global scale. This has led to an increase in services providing security and mobile device access to secure networks. However, using mobile devices to access networks and the cloud poses new security risks. In order to ensure data and network security, users are increasingly adopting cybersecurity solutions. Hence, such factors will boost the antivirus software market in Latin America during the forecast period.
The advent of cloud-based antivirus software is an emerging trend in the market. Cloud-based antivirus software services are used for tasks like biometric data storage, video management, and authentication. It's critical to protect the data from unauthorized access because banks and hospitals store significant amounts of sensitive information in the cloud. Because they are economical and don't need an infrastructure to support their implementation, cloud-based services are becoming more and more popular among SMEs. The adaptability and scalability of cloud-based security solutions allow for the fulfillment of a wide range of customer requirements, which accounts for their rising popularity.
In order to ensure remote access to data in light of the increased employee mobility, a number of businesses have adopted cloud-based services for administrative tasks like client relationship management (CRM), payroll, and enterprise communication. Security solutions are in higher demand as a result of the growing need to safeguard data stored in the cloud. To enforce data security for banking and healthcare organizations, governments around the world have put in place strict regulations like the Payment Card Industry Data Security Standard (PCI DSS) Act and the Health Insurance Portability and Accountability Act (HIPAA). Hence, these trends can benefit the antivirus software market in Latin America during the forecast period.
The complex IT infrastructure is a major challenge impeding the market growth. The IoT has a huge potential for development and adoption because it improves device connectivity and makes M2M communication easier. However, this has produced a convoluted IT infrastructure that links big data, cloud computing, and mobile devices, resulting in a network of unsecured devices.
Businesses are struggling to receive the highest level of security and service from organizations. Finding legitimate end-user devices to connect to and exchange data within such a sophisticated connected network is challenging. As large-scale financial information is involved in such networks, engaging in a wide range of activities like e-commerce, online transactions, online payments, and financial transactions has increased the network's vulnerability to attacks. Therefore, antivirus market vendors face a challenge in maintaining security and confidentiality in such a complicated network infrastructure. Hence, such factors hinder the growth of the antivirus software market in Latin America during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Antivirus Software Market in Latin America Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Fortinet Inc. - The company offers network security, cloud security, security operation, zero trust access networking, and communications security-as-a-service. The key offerings of the company include antivirus software which is designed to provide malware, ransomware, and phishing protection in PC and laptops.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the enterprise segment will be significant during the forecast period. During the forecast period, enterprise antivirus software is expected to experience significant growth in Latin America due to the region's growing acceptance of digitalization and an increase in cyber threats. The market in focus is dominated by major players like McAfee, Symantec, and Kaspersky because they provide antivirus software for businesses.
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The enterprise segment was valued at USD 122.99 million in 2017 and continued to grow until 2021. The demand for cloud-based antivirus solutions is increasing as more businesses move their operations to the cloud. As data privacy and security become even more important, businesses are expected to continue investing in powerful antivirus solutions to protect their sensitive data and fend off cyberattacks. Due to these benefits, the antivirus software market in Latin America is anticipated to grow at a faster rate during the forecast period due to the significant demand for antivirus software from the enterprise application segment.
The Latin America antivirus software market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the antivirus software market in Latin America as a part of the global IT consulting and other services market within the global IT services market. The parent global IT services market cover companies offering IT consulting and system integration services, application services, electronic data processing services, business process outsourcing services, infrastructure services, and Internet services. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Antivirus Software Market Scope in Latin America |
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Report Coverage |
Details |
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Page number |
138 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12.83% |
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Market growth 2023-2027 |
USD 295.3 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
11.91 |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AO Kaspersky Lab, Avast Software Sro, BlackBerry Ltd., ESET Spol Sro, Fortinet Inc., F Secure Corp., G DATA CyberDefense AG, International Business Machines Corp., Malwarebytes Inc., McAfee LLC, Microsoft Corp., NortonLifeLock Inc., Psafe, S.C. BITDEFENDER Srl, Sophos Ltd., Trend Micro Inc., WatchGuard Technologies Inc., Wontok, Open Text Corp., and Dell Technologies Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Device
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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