Canada Cybersecurity Market is Segmented by Offering (Solutions and Services), Deployment Mode (Cloud and On-Premise), Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), and End User Industry (BFSI, Healthcare, IT and Telecom, and More). The Market Forecasts are Provided in Terms of Value (USD).

The Canada cyber security market reached around USD 9.18 Billion in 2024. The market is projected to grow at a CAGR of 8.90% between 2025 and 2034 to reach nearly USD 21.53 Billion by 2034.

The revenue is forecast to experience significant growth in all segments in 2029. The trend observed from 2019 to 2029 remains consistent throughout the entire forecast period. There is a continuous increase in the indicator across all segments. Notably, the Cybersecurity segment achieves the highest value of **** billion U.S. dollars at 2029. Find further statistics on other topics such as a comparison of the revenue in Australia & Oceania and a comparison of the revenue change in Italy. The Statista Market Insights cover a broad range of additional markets.

Canada Cybersecurity Market size was valued at USD 8 Billion in 2024 and is projected to reach USD 13.27 Billion by 2032, growing at a CAGR of 7.5% from 2026-2032.

Canada Cybersecurity Market: Definition/ Overview

Cybersecurity refers to the practice of protecting systems, networks, and data from cyber threats, including hacking, malware, phishing, and unauthorized access. It is applied across industries such as finance, healthcare, government, and e-commerce to safeguard sensitive information, ensure data privacy, and prevent cyberattacks. With increasing digital transformation, the future scope of cybersecurity is expanding with advancements in AI-driven threat detection, zero-trust security models, and quantum-resistant encryption, making it a crucial aspect of digital infrastructure.

Canada cybersecurity market is valued at USD 7.3 billion, driven by rising cyberattacks, cloud adoption, and regulatory compliance, with strong demand for AI-powered tools and cloud security solutions.

The Canadian cybersecurity market, valued at $12.96 million in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 10.99% from 2025 to 2033. This expansion is driven by several key factors. Increasing digitalization across all sectors, from BFSI (Banking, Financial Services, and Insurance) and healthcare to manufacturing and government, necessitates heightened cybersecurity measures to protect sensitive data and critical infrastructure. The rising frequency and sophistication of cyberattacks, coupled with stringent government regulations aimed at enhancing data privacy (like PIPEDA), are further fueling market demand. Growth is also spurred by the adoption of cloud-based security solutions, offering scalable and cost-effective protection, and the increasing demand for advanced threat detection and response capabilities, including artificial intelligence (AI) and machine learning (ML)-powered security solutions. While the market faces restraints such as skilled cybersecurity workforce shortages and the complexity of implementing comprehensive security solutions across diverse organizational environments, the overall growth trajectory remains positive. The market segmentation reveals significant opportunities across various offerings. Cloud security, data security, and identity access management (IAM) are expected to dominate the market, reflecting the growing reliance on cloud services and the need for robust identity management practices. The on-premise deployment model will likely continue to hold a considerable share, especially within industries with stringent data residency requirements. Leading players like IBM, Cisco, Microsoft, and Check Point are leveraging their established presence and technological expertise to capture market share, while smaller niche players are focusing on specialized solutions to cater to specific industry needs. The forecast period of 2025-2033 presents promising prospects for Canadian cybersecurity companies, as the country continues to strengthen its digital infrastructure and prioritize cybersecurity investments. Future growth will depend heavily on addressing the skills gap, fostering innovation in security technologies, and adapting to the evolving threat landscape. Recent developments include: May 2022 - Microsoft Corporation announced the expansion of its cybersecurity capabilities under the Microsoft Security Experts service category, combining expert-trained technologies with human-led services. The new managed services include Microsoft Defender Experts for Hunting and Microsoft Defender Experts for XDR., January 2022 - Proofpoint Inc acquired Dathena to add AI-based data classification to its Information and Cloud Security platform, strengthening its cloud-based people-centric security solutions. The updated solutions will provide services to the company to avoid data losses during the widely adopted hybrid working policies.. Key drivers for this market are: Rising Digitalization, e-Commerce, and IT Infrastructure for Businesses, Economic Growth Supporting New Businesses; Government Policies for Cybersecurity Driving the Market. Potential restraints include: Rising Digitalization, e-Commerce, and IT Infrastructure for Businesses, Economic Growth Supporting New Businesses; Government Policies for Cybersecurity Driving the Market. Notable trends are: Government Policies to Dominate the Market Growth.

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The cyber security market in North America has the potential to grow by USD 66.66 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 15.54%.

This cyber security market in North America research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by deployment (on-premise and cloud) and geography (the US, Canada, and Mexico). The cyber security market in North America report also offers information on several market vendors, including AO Kaspersky Lab, Booz Allen Hamilton Holding Corp., Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., Corporation Service Co., Fortinet Inc., General Dynamics Corp., McAfee LLC, and Northrop Grumman Corp. among others.

What will the Cyber Security Market Size in North America be in 2021?

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Cyber Security Market in North America: Key Drivers and Trends

The increase in the use of mobile devices is notably driving the cyber security market growth in North America, although factors such as high cost of deployment may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the cyber security market in North America industry get your FREE report sample now.

      With the increasing adoption of mobile devices, such as mobile phones, laptops, and tablets, the need for cybersecurity solutions is rising.
      One of the major reasons for the rising need for cybersecurity solutions is the increasing use of devices such as mobile phones and laptops to access the Internet, which is increasing the chances of cybercrimes. 
      The use of mobile devices for personal and professional use is increasing the access to critical data and information, which will increase the chance of unauthorized access in case of a stolen mobile device.
      With technological advances, the acceptance of mobile devices for m-commerce, bill payment, and GPS is also increasing.
      The confidential information accessed by mobile devices requires high-level security against hacking.




      Implementing firewalls as a disruptive deception capability is another key driver influencing the cyber security market growth in North America.
      Advancements in technology have led to the introduction of firewalls with advanced capabilities such as intrusion prevention, blacklists, reputation feeds, and URL filtering. 
      The implementation of a firewall helps end-users to leverage threat detection and provide an enhanced opportunity to secure the network. 
      The implementation of a firewall further results in the generation of deception responses that further allows deception technology providers to offer deception hosts designed specifically to be attacked. 

This cyber security market in North America analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Cyber Security Market Vendors in North America?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

AO Kaspersky Lab
Booz Allen Hamilton Holding Corp.
Broadcom Inc.
Check Point Software Technologies Ltd.
Cisco Systems Inc.
Corporation Service Co.
Fortinet Inc.
General Dynamics Corp.
McAfee LLC
Northrop Grumman Corp.

The cyber security market in North America is fragmented and the vendors are deploying growth strategies such as investing in R&D and branding to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the cyber security market in North America forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Cyber Security Market in North America?

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72% of the market’s growth will originate from US during the forecast period. The US is the key market for cyber security in North America. Market growth in this region will be faster than the growth of the market in Canada and Mexico.

The expanding IT, healthcare, BFSI, retail, and education

In Canada Defense Cybersecurity Market, offering valuable insights, key market trends, competitive landscape, and future outlook to support strategic decision-making and business growth.

In Canada AI in Cybersecurity Market , was valued at approximately USD 10.11 billion in 2022 and is projected to reach USD 12.45 billion by 2029,

Canada Cyber Security Market growth is driven by growing digitalization, cloud adoption, and remote work environments, cyber security has become a critical component of enterprise risk management and national security.

Percentage of enterprises impacted by specific types of cyber security incidents by the North American Industry Classification System (NAICS) and size of enterprise.

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Cyber Security Market Size 2025-2029

The cyber security market size is valued to increase USD 269.8 billion, at a CAGR of 16.7% from 2024 to 2029. Increase in use of mobile devices will drive the cyber security market.

Major Market Trends & Insights

North America dominated the market and accounted for a 43% growth during the forecast period.
By End-user - Government segment was valued at USD 43.50 billion in 2023
By Deployment - On-premises segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 143.61 billion
Market Future Opportunities: USD 269.80 billion
CAGR from 2024 to 2029 : 16.7%

Market Summary

In the ever-expanding digital realm, the cybersecurity market assumes a pivotal role as businesses worldwide grapple with the escalating threat landscape. According to recent estimates, the global cybersecurity market is projected to reach a value of USD248.26 billion by 2023, underscoring its significant growth trajectory. This surge in demand is fueled by several key drivers, including the increasing use of mobile devices and the adoption of IoT technology. As businesses embrace digital transformation, they become increasingly reliant on complex networks and interconnected systems, creating a vast attack surface for cybercriminals. This, in turn, necessitates robust cybersecurity solutions capable of safeguarding sensitive data and mitigating potential threats. However, the high cost of deployment remains a significant challenge, necessitating a balance between security and cost-effectiveness. Moreover, the cybersecurity landscape is characterized by rapid evolution, with emerging threats and technologies requiring continuous adaptation and innovation. As such, cybersecurity providers must stay abreast of the latest trends and developments to deliver effective solutions. This ongoing demand for advanced security capabilities is expected to drive market growth in the coming years.

What will be the Size of the Cyber Security Market during the forecast period?

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How is the Cyber Security Market Segmented ?

The cyber security industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userGovernmentBFSIICTManufacturingOthersDeploymentOn-premisesCloud-basedProductSolutionServicesSectorLarge enterprisesSMEsTypeCloudEnd-point and IoTNetworkApplicationGeographyNorth AmericaUSCanadaEuropeFranceGermanyRussiaUKAPACChinaIndiaJapanSouth AmericaBrazilRest of World (ROW)

By End-user Insights

The government segment is estimated to witness significant growth during the forecast period.

Amidst the ever-evolving digital landscape, The market continues to expand, with the government sector leading the charge in 2024. This sector is projected to maintain its dominance throughout the forecast period, fueled by the installation of advanced security systems in both developed and developing nations. Homeland security and defense sectors' significant contributions further bolster this growth. With the increasing importance of data security and confidentiality, governments worldwide invest in cyber security solutions to safeguard sensitive information. In fact, a recent study reveals that the government sector accounted for over 25% of the market in 2023. This trend is expected to persist as governments continue to prioritize cybersecurity, implementing advanced technologies such as machine learning security, intrusion detection systems, and zero trust architecture. Additionally, the adoption of cybersecurity incident response, threat modeling techniques, data encryption techniques, and malware analysis techniques further strengthens their cybersecurity posture. As the threat landscape evolves, governments are also focusing on automation security tools, ransomware attack prevention, and artificial intelligence security to stay ahead of emerging threats. Compliance frameworks, incident response planning, data breach notification, and threat intelligence platforms are essential components of their cybersecurity strategies. Vulnerability assessment scanning, social engineering attacks, security orchestration automation, data loss prevention, risk assessment methodologies, access control management, penetration testing methodologies, phishing email detection, multi-factor authentication, network security protocols, and blockchain security implementation are all critical aspects of their cybersecurity arsenal.

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The Government segment was valued at USD 43.50 billion in 2019 and showed a gradual increase during the forecast period.

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Regional Analysis

North America

Canada’s network security market was valued at over USD 2.41 billion in 2023, experiencing significant growth due to increasing cybersecurity investments.

Average spending on specific measures to prevent or detect cyber security incidents by the North American Industry Classification System (NAICS) and size of enterprise.

Canada Cybersecurity for BFSI Market valued at USD 3.5 Bn, driven by rising cyber threats, regulatory compliance, and digital banking adoption in Ontario and British Columbia.

Canada Aerospace Cyber Security Market growth is driven by significant defense spending and the presence of major aerospace companies. Europe will see steady growth, supported by stringent cybersecurity regulations and technological advancements.

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Cybersecurity Services Market Size 2024-2028

The cybersecurity services market size is forecast to increase by USD 49 billion at a CAGR of 9.23% between 2023 and 2028. The market is experiencing significant growth due to several key drivers. The increasing number of data breaches and cyber-attacks has heightened the awareness and importance of cybersecurity, leading to an increase in demand for these services. Another trend in the market is the integration of artificial intelligence (AI) and machine learning (ML) technologies to enhance threat detection and response capabilities. However, the high cost of implementing cybersecurity services remains a challenge for many organizations, particularly smaller businesses and governments with limited budgets. Despite this, the market is expected to continue growing as businesses recognize the need for cybersecurity to protect their valuable digital assets.

What will be the Size of the Market During the Forecast Period?

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The market is witnessing significant growth due to the increasing reliance on digital technologies and the subsequent rise in cyber threats. With the proliferation of cloud computing, remote work, and digital transactions, enterprises across various sectors including banking, financial services, healthcare, e-commerce platforms, and critical infrastructure are increasingly vulnerable to cyberattacks. Digital technologies have revolutionized the way businesses operate, enabling them to offer new services and reach wider audiences. However, they also introduce new risks. Cybersecurity risks, such as malicious attacks, are a major concern for organizations, particularly those dealing with sensitive data.

Moreover, the energy sector and critical infrastructure are also at risk from physical threats that can have digital consequences. Advanced security solutions are essential to mitigate these risks. AI and machine learning technologies are being increasingly adopted to enhance cybersecurity capabilities. Risk-based security approaches are becoming the norm, with organizations prioritizing resources to protect their most valuable assets. The shift to remote work has further complicated cybersecurity efforts. With employees working from home, the traditional perimeter security model is no longer sufficient. Organizations must ensure their networks and data are secure, regardless of where their employees are located. The cybersecurity skills gap is another challenge.

Similarly, with the increasing complexity of cyber threats, there is a growing demand for skilled cybersecurity professionals. Organizations must invest in training and development to ensure they have the necessary expertise in-house. In conclusion, the market is crucial in helping organizations navigate the digital landscape and protect against cyber threats. The market is expected to grow as businesses continue to adopt digital technologies and as cybercriminals become more sophisticated in their attacks. Organizations must prioritize cybersecurity to safeguard their assets and maintain customer trust.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Deployment

  On-premises
  Cloud based


End-user

  Government
  BFSI
  ICT
  Manufacturing
  Others


Geography

  North America

    Canada
    US


  APAC

    China
    India
    Japan
    South Korea


  Europe

    Germany
    UK
    France


  Middle East and Africa



  South America

By Deployment Insights

The on-premises segment is estimated to witness significant growth during the forecast period. On-premises cybersecurity services offer organizations advanced security solutions to safeguard their infrastructure from cyberattacks. These solutions are installed and managed within an organization's own physical environment, providing a high degree of control and customization. With on-premises cybersecurity, businesses can fine-tune security configurations, set up strict access controls, and maintain direct supervision over their security operations. This level of control is essential for industries with stringent regulatory requirements, sensitive data handling policies, or unique security considerations. Machine Learning (ML) and threat detection technologies are increasingly being integrated into on-premises cybersecurity solutions to enhance their capabilities. Cloud security services are also becoming a significant component of on-premises cybersecurity offerings, allowing organizations to extend their security perimeter to the cloud. The demand for cybersecurity professionals is at an all-time high due to the increasing number of cyberattacks.

However, there is a significant cyber talent shortage, making it challen

Canada cybersecurity for retail market is valued at USD 2.5 billion, driven by rising cyberattacks, digital payments, and e-commerce adoption to protect customer data.

Canada cybersecurity in healthcare systems market is valued at USD 1.5 billion, driven by digitization, cyber threats, and data protection awareness in regions like Ontario, Quebec, and British Columbia.

Over the last two observations, the revenue is forecast to significantly increase in all segments. The trend observed from 2017 to 2029 remains consistent throughout the entire forecast period. There is a continuous increase in the indicator across all segments. Notably, the Security Services segment achieves the highest value of *** billion U.S. dollars at 2029. Find further statistics on other topics such as a comparison of the revenue in the world and a comparison of the revenue in Canada. The Statista Market Insights cover a broad range of additional markets.