Cybersecurity Software Services in Australia - Market Research Report (2014-2029)
Melbourne, Australia
Last Updated: June 2024
ANZSIC OD5549Revenue
$1.9bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
6,775
Businesses
1,396
Wages
$XXX.Xm
Cybersecurity Software Services in Australia industry analysis
The rapid expansion of the Australian IT sector has generated high demand for cybersecurity software services. With digitalisation and the increased reliance on technologies like cloud services and IoT, advanced cybersecurity measures have moved from being optional to mandatory. Large multinational companies dominate the industry, especially in offering antivirus software, although local providers are innovating to stay competitive. Many providers are applying AI-enhanced managed cybersecurity response systems to pre-emptively identify and mitigate suspicious activities to gain a competitive edge. Recent high-profile data breaches, like those at Medibank and Optus, have emphasised the necessity for such advanced measures, incentivising businesses to invest in cybersecurity solutions. Revenue is expected to climb by 2.1% to $1.9 billion in the current year, constituting an annualised 2.3% growth over the five years through 2023-24.
Trends and Insights
- Australia's booming IT sector and high-profile data breaches have heightened the need for advanced cybersecurity measures. This surge in demand is driving significant growth in the cybersecurity industry.
- Evolving cyber threats and advanced technologies have amplified the critical role of antivirus software in managing cybersecurity risks. This has spurred providers to enhance antivirus capabilities, catalysing heightened demand for these solutions.
- Cybersecurity software providers are predominantly located in New South Wales, Victoria and Queensland, mirroring Australia's economic and population distribution. The need for highly skilled talent and the presence of major clients in these regions reinforce this trend.
- Price, quality and service range are the main factors that providers compete on. Providers that have affordable, high-quality and diverse services gain more clients.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 2.3 % over the past five years, to reach an estimated $1.9bn in 2024.
Trends and Insights
Technological advancement and escalating cyber threats are aiding revenue growth
- The Australian IT sector's rapid expansion has spurred high demand for cybersecurity software. Digitalisation and continuous technological advancements have created a need for secure and advanced software systems.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Remote working and technological advancement trends propel the industry forwards
- The COVID-19 pandemic significantly shifted the Australian workforce towards remote and hybrid working models, a trend expected to continue into the foreseeable future. Driving this change is an amalgamation of businesses and employees realising the benefits of lower operational costs and enhanced flexibility in terms of work-life balance.
Biggest companies in the Cybersecurity Software Services in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
Data#3 | 423.3 | |
Trend Micro Australia | 209.1 | |
Accenture Australia | 205.2 |
To view the market share and analysis for all 12 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Antivirus software, VPN services and Authentication and data encryption . Antivirus software is the largest segment of the Cybersecurity Software Services in Australia.
Trends and Insights
Cybersecurity concerns and new technology amplify demand for antivirus software
- Antivirus software is a critical cybersecurity measure, designed to prevent, detect and remove harmful viruses and software from computer systems.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Computer System Design Services in Australia
- IT Security Consulting in Australia
- Software Publishing in Australia
Complementors
- There are no industries to display.
International industries
- Security Software Publishing in the US
- IT Security Consulting in the US
- Cyber Security Software Development in the UK
- IT Security Consulting in the UK
Table of Contents
About this industry
Industry definition
Cybersecurity software providers offer a variety of cybersecurity software solutions, like antivirus, virtual private networks and two-factor authentication. Cybersecurity consulting services, like procuring secure hardware and training personnel on cyber safety, are not included in the industry.
What's included in this industry?
Antivirus software developmentVirtual private network operationAuthentication service operationFirewall operationData encryption servicesCybersecurity incident response servicesCompanies
Data#3Trend Micro AustraliaAccenture AustraliaPurchase this report to view all 12 major companies in this industry.
Related Terms
PUBLIC NETWORKVIRTUAL PRIVATE NETWORK (VPN)CLOUD COMPUTINGENDPOINTIndustry Code
ANZSIC 7000 - Cybersecurity Software Services in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Australia's booming IT sector and high-profile data breaches have heightened the need for advanced cybersecurity measures. This surge in demand is driving significant growth ...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Evolving cyber threats and advanced technologies have amplified the critical role of antivirus software in managing cybersecurity risks. This has spurred providers to enhance...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Cybersecurity software providers are predominantly located in New South Wales, Victoria and Queensland, mirroring Australia's economic and population distribution. The need f...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Price, quality and service range are the main factors that providers compete on. Providers that have affordable, high-quality and diverse services gain more clients.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Data#3 is transitioning towards a service-oriented model, focusing on managed services and strengthened partnerships to deliver advanced solutions. This strategic shift aims ...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Data#3's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Trend Micro Australia's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Accenture Australia's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 9 additional companies
Detailed analysis
- Description and key data for Data#3, and factors influencing its performance in the industry
- Description and key data for Trend Micro Australia, and factors influencing its performance in the industry
- Description and key data for Accenture Australia, and factors influencing its performance in the industry
- Description, key data and performance trends for 9 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The enactment of the Security of Critical Infrastructure Act 2018 has necessitated enhanced threat management in critical sectors. This has escalated demand for cybersecurity...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Digital transformation and shifts towards recurring revenue models have fuelled significant profitability increases in the cybersecurity industry. Expansion in service offeri...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Cybersecurity Software Services industry in Australia in 2024?
The market size of the Cybersecurity Software Services industry in Australia is $1.9bn in 2024.
How many businesses are there in the Cybersecurity Software Services in Australia industry in 2024?
There are 1,396 businesses in the Cybersecurity Software Services industry in Australia, which has grown at a CAGR of 5.8 % between 2019 and 2024.
Has the Cybersecurity Software Services industry in Australia grown or declined over the past 5 years?
The market size of the Cybersecurity Software Services industry in Australia has been growing at a CAGR of 2.3 % between 2019 and 2024.
What is the forecast growth of the Cybersecurity Software Services industry in Australia over the next 5 years?
Over the next five years, the Cybersecurity Software Services industry in Australia is expected to grow.
What are the biggest companies in the Cybersecurity Software Services market in Australia?
The biggest companies operating in the Cybersecurity Software Services market in Australia are Data#3, Trend Micro Australia and Accenture Australia
What does the Cybersecurity Software Services in Australia include?
Antivirus software development and Virtual private network operation are part of the Cybersecurity Software Services industry.
Which companies have the highest market share in the Cybersecurity Software Services in Australia?
The company holding the most market share in Australia is Data#3.
How competitive is the Cybersecurity Software Services industry in Australia?
The level of competition is moderate and steady in the Cybersecurity Software Services industry in Australia.
