Antivirus Software Market size in Latin America to grow by USD 295.3 million from 2022 to 2027; The increase in the use of mobile devices to boost market growth - Technavio
NEW YORK, June 6, 2023 /PRNewswire/ -- The antivirus software market size in Latin America is expected to increase by USD 295.3 million from 2022 to 2027. The market is expected to be registering a CAGR of 12.83%, according to the latest research report from Technavio. Discover IT Consulting & Other Services industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!
The antivirus software market in latin america covers the following areas:
Antivirus Software Market in Latin America- Vendor Landscape
There are numerous domestic and foreign competitors vying for market share in the highly competitive antivirus market in Latin America. The market in focus is being driven by the rising use of connected devices and concerns about cybersecurity threats, which is fueling an increase in demand for dependable antivirus software. The antivirus software market in Latin America is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
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Antivirus Software Market in Latin America - Key Market Segmentation
This Latin America antivirus software market report extensively covers market segmentation by application (enterprise and individual), and device (laptops, desktops, and mobile and tablets).
View Sample Report in minutes of this report for more highlights into the market segments.
Antivirus Software Market in Latin America - Regional Market Outlook
As a result of rising internet usage and digitalization, the antivirus software market in Latin America is competitive as well as expanding rapidly. An increase in cyber threats and the requirement for companies as well as individual consumers to implement precautions against these threats drives the regional market. Even though there exists greater competition in the market in focus, consumers have grown increasingly price-conscious and there is free antivirus software available. Hence, such factors drive the market during the forecast period.
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What's New? -
Antivirus Software Market in Latin America - Market Dynamics
The increase in the use of mobile devices is notably driving the market growth of antivirus software. This can be attributed to the rise in Internet access through such devices, which raises the possibility of cyber threats. Moreover, 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.
Along with technological advancements, the acceptance of mobile devices for m-commerce, bill payment, and GPS grows. Therefore, mobile devices need to be protected from hackers with high-level security when accessing confidential information. Resultantly, the demand for cutting-edge cybersecurity solutions is high. Hence, such factors drive market growth during the forecast period.
The advent of cloud-based antivirus software is an emerging trend influencing the market. These services are used for tasks such as biometric data storage, video management, and authentication. It is also critical to protect the data from unauthorized access because banks and hospitals store significant amounts of sensitive information in the cloud.
Cloud-based services become increasingly popular among SMEs, as they are economical and don't need an infrastructure to support their implementation. Furthermore, 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. Hence, such trends influence the growth of the market in focus during the forecast period.
The complex IT infrastructure is a major challenge hindering market growth. IoT improves device connectivity and makes M2M communication easier. Hence, it experiences a huge potential for development and adoption. But this has produced a convoluted IT infrastructure that links big data, cloud computing, and mobile devices, resulting in a network of unsecured devices.
Businesses struggle to receive the highest level of security and service from organizations, which makes finding legitimate end-user devices to connect to and exchange data within a sophisticated connected network challenging. Therefore, such factors hinder the growth of the antivirus software market in Latin America during the forecast period.
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Key Topics Covered:
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
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