Market Research Report
Latin America Critical Infrastructure Protection Market Forecast 2021-2028
|Published by||Inkwood Research||Product code||980896|
|Published||Content info||112 Pages
Delivery time: 2-3 business days
|Latin America Critical Infrastructure Protection Market Forecast 2021-2028|
|Published: January 11, 2021||Content info: 112 Pages||
The Latin America critical infrastructure protection market is anticipated to register a CAGR of 6.55%, over the forecast years of 2021 to 2028. The increasing reliance on critical infrastructure, and the growing risk of cyberattacks, are among the key drivers facilitating the region's market growth.
The Latin America critical infrastructure protection market growth is evaluated by assessing Argentina, Mexico, Brazil, and the rest of Latin America. Mexico is among the leading economies across Latin America, at par with Argentina, Brazil, Chile, and Colombia. The country's government is continually establishing efforts in order to strengthen the resilience capacity, for maintaining the continuity and stability of services, in case of future cybersecurity incidents. Mexico also concentrates on cyber risks as well as identification of CII assets, by instituting the National Center for Cyber Incident Response. It essentially responds to attacks directed towards the critical infrastructure's technological assets. Moreover, in November 2019, Pemex, Mexico's state-owned oil firm, suffered a ransomware attack, demanding $4.9 million. The attack compelled the company to shut down computers across the country, and froze systems, like payments.
Conversely, the government of Brazil has acknowledged that opportunities within the critical infrastructure protection segment lie in the utility of the Internet of Things (IoT) revolution, in addition to its potential scope. As a result, the government has aimed to accelerate the development of IoT, and prioritized smart cities as the application for sustainable development. Hence, such factors are accredited to market growth.
Leading companies operating in the market include, Ericsson AB, Honeywell International, etc.