SA Cybersecurity Services Report 2024

BMIT investigates the major factors that impact the South African Cybersecurity Services market, including the key trends, drivers and challenges that inhibit this market.

The research study also aims to estimate the size of the Cybersecurity Services market in South Africa and forecast expenditures over the next five years.

Key questions answered

  • What is the size of the SA Cybersecurity Services market, segmented by each technology sector?
  • What are the business expectations within the SA Cybersecurity market?
  • Which are the key business drivers and inhibitors within the SA Cybersecurity market?

Market modelling

The research methods used by BMIT for this report represent market data acquired and defined based on a number of proprietary and public sources, both primary and secondary, followed by further analysis and forecasting.

Primary research

The report is a compilation of quantitative and qualitative analysis, based on online interviews with leaders of various IT companies in South Africa, and secondary research sources. To inform the market sizing model, initial estimates of market size and splits based on secondary sources were provided by BMI TechKnowledge during the interviews, and thereby confirmed or revised. As part of BMIT’s annual end-user engagement survey, we included a Cybersecurity set of questions for those respondents who were knowledgeable about Cybersecurity in their organisation.

Table of Contents

Global Market Overview
  • Global Cybersecurity Market Size
  • The Cost of Cybercrime
  • Cybersecurity Budgets, 2024
  • Cybercrime by region and industry according to X-Force
  • Top actions on objectives 2023 (IBM X-Force)
  • Top initial access vectors 2023 (IBM X-Force)
  • Cybersecurity skills shortage
  • Legislation worldwide
  • Comparison Table: Worldwide Data Privacy Regulations
International trends
  • The Rise of Artificial Intelligence (AI) in Cybersecurity
  • The Growing Threat of Ransomware and Extortion
  • The Increasing Sophistication of Cyber Attacks
  • The Rise of State-Sponsored Hacktivism
  • The Growing Importance of Cloud Security
  • The Increasing Importance of Identity & Access Management (IAM)
  • The Increasing Focus on Regulatory Compliance
Overview of Local Market
Key Local Drivers
  • Local market drivers in Cybersecurity
  • Cyber-attacks in South Africa
  • Incident Response and Preparedness
  • IT Modernisation and Cloud Adoption
  • Identity and Access Management
  • Cybersecurity Insurance
  • Automation and AI
  • Zero trust is being adopted across the market
Key Local Challenges
  • Local Cybersecurity key challenges
  • The cost of cybercrime in South Africa
  • Cost constraints and reduction
  • Skills Shortage
  • Cybersecurity Misconceptions and Lack of Awareness
  • Fostering a Security Culture
  • Providers creating confusion in Complex Environment
  • Regulatory Compliance and Enforcement
  • SA Data Protection legislation
Key Local Trends
  • Local Cybersecurity trends
  • AI-Powered Cybersecurity Powers Forward
  • Growing Demand for Managed Security Services
  • Cybersecurity Mesh Architecture
  • Data protection in Multi-Cloud environments
  • Increasing IoT and security threats on the edge
  • Increased attention on the Dark Web
  • Cybersecurity Market Maturity
Local Market End User Survey
  • Local cyber attacks
  • Types of local cyber attacks
  • Cybersecurity budget growth
  • Driving factors of cybersecurity
  • Cybersecurity components implemented
  • Cybersecurity frameworks and newer technologies
  • Impact of POPIA
Local Market Size Estimates and Forecast
  • ROM Market sizing estimate and forecast
  • Cybersecurity technology forecast
  • Cybersecurity Vertical market split estimates
  • Cybersecurity Market Company Size split
Selected Company Profiles
  • BCX
  • Performanta
  • EOH
  • BUI
  • Dimension Data
  • Altron
Case Studies
  • GPAA Government Pensions Administration Agency
  • TransUnion
  • Dis-chem
  • X  (formerly Twitter)(International Case Study)
  • UBER (International Case Study)

Related research

Deliverables and format

  • Rich narrative PowerPoint descriptive document and Excel workbook
  • Online presentation (in PowerPoint format)

Further information

For further information and details on how to subscribe to this research, please contact Anita Mathews at 011 540 8000 | 082 466 2317 | anita@bmit.africa