Latin America Security Services Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Latin America Security Services Industry Overview

The Latin American security services market is fragmented due to various large and small players. All the major players account for a significant market share and focus on expanding the global consumer base. Some significant players in the market are Broadcom, Securitas Inc., Fortra LLC, Fujitsu Ltd, and IBM Corporation, among many others. Several companies are increasing their market share by forming collaborations, partnerships, and acquisitions and introducing new and innovative services to earn a competitive edge. For instance,

• In May 2024, Akamai Technologies Inc. completed the acquisition of Noname Security, a leading provider of API security solutions. Noname Security's expertise in API security will further bolster Akamai's current API security offerings, enabling the company to respond better to increasing customer demand and changing market needs as API usage grows. Moreover, Akamai anticipates benefiting from Noname's additional sales and marketing capabilities and its established network of channel partners and alliances.
• In April 2024, Broadcom announced the acquisition of VMware, which will significantly impact managed service providers (MSPs). This acquisition is changing the virtualization and cloud computing markets and providing direction for smaller MSPs as they adapt to these changes. The acquisition shows that Broadcom is strategically expanding its presence in enterprise software solutions by taking advantage of VMware's strong position in virtualization and cloud services.