The South Africa Cybersecurity Market size is estimated at USD 0.26 billion in 2024, and is expected to reach USD 0.49 billion by 2029, growing at a CAGR of 12.97% during the forecast period (2024-2029).
The rapid introduction of digital technologies for data assembly, storage, analysis, and sharing has created a need for digital data security, which is a major factor driving the growth of the South African cyber security market.
South Africa's Cybersecurity Market is moderately concentrated and dominated by major players like Palo Alto Networks Inc., Cisco Systems, Inc, Kaspersky Labs, and CyberArk And Check Point Software Technologies Ltd. These major players, with a prominent market share, are focusing on extending their overall customer base across foreign countries.
In November 2022, Vodacom Business partnered with CybSafe to provide its businesses and clients with on-demand security training and awareness access. CybSafe is mainly known for its industry-leading, customizable and behavioral-science-based cybersecurity solutions. Now, Vodacom Business clients can download the CybSafe app onto their mobile devices and utilize it to gain cybersecurity compliance while improving the security behaviors of their employees.
In August 2022, Vodacom and Microsoft South Africa collaborated to train around twenty interns around the significance of cybersecurity. Vodacom is keen to play a crucial role in addressing cyber skills scarcity in South Africa, with cybersecurity a vital threat for businesses, governments, and individuals worldwide.
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