Nigeria Cybersecurity Market Size Booming to Touch USD 369 Million by 2031

Published | 17 October 2025

Nigeria Cybersecurity Market is flourishing because of the increasing sophistication of cyber threats to the accelerating digitalization across businesses.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Nigeria Cybersecurity Market size at USD 186.99 million in 2024. During the forecast period between 2025 and 2031, BlueWeave expects Nigeria Cybersecurity Market size to expand at a CAGR of 10.19% reaching a value of USD 368.90 million by 2031. The growth of Nigeria Cybersecurity Market is propelled by the government's efforts to strengthen national cybersecurity frameworks by intensifying its cybersecurity agenda among increasing cybersecurity threats, focusing on policy reforms, institutional enhancements, and capacity building. For instance, in February 2024, the Nigerian government amended Cybercrimes (Prohibition, Prevention, etc.) Act 2015 to impose a 72-hour incident reporting requirement and bolster enforcement against cyber threats. The October 2025 launch of the National Digital Trustmark enhances e-commerce security. These initiatives are helping in the reduction of vulnerabilities in critical sectors. The continued efforts to enhance the cyber security framework could boost the growth of Nigeria Cyber Security Market in the coming years.

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Impact of Escalating Geopolitical Tensions on Nigeria Cybersecurity Market

Intensifying geopolitical tensions could disrupt the growth of Nigeria Cybersecurity Market. Heightened global conflicts often lead to increased cyber espionage, state-sponsored attacks, and cross-border cyber threats, making Nigeria’s digital infrastructure more vulnerable. As the country deepens its digital integration and international partnerships, it becomes a potential target for politically motivated cyberattacks. This growing threat landscape compels both government and private sectors to invest more in cybersecurity, driving demand for advanced solutions. However, geopolitical instability may also disrupt global supply chains and technology transfers, limiting access to critical cybersecurity tools and expertise. Thus, political, military, trade, and tariff tensions present both growth opportunities and operational challenges for the players in Nigeria Cybersecurity Market.Bottom of Form

Healthcare Segment Leads Nigeria Cybersecurity Market

The healthcare segment holds the largest share of Nigeria Cybersecurity Market, due to its rapid digitalization and heightened vulnerability to cyber threats. The adoption of electronic health records (EHRs), telemedicine, and connected medical devices has made healthcare institutions prime targets for ransomware, data breaches, and other attacks. In response, providers are significantly investing in cybersecurity solutions, training, and incident response, supported by public-private collaborations, solidifying healthcare as a key driver of cybersecurity demand and innovations in Nigeria.

Competitive Landscape

Major companies in Nigeria Cybersecurity Market include Check Point Software Technologies, Cisco Systems, CyberSOC Africa Layer3 Limited,  Digital Encode Limited, Ethnos Cyber Ltd, Forcepoint, Fortinet, IBM, Inlaks,  Microsoft, Palo Alto Networks, and Trend Micro. The presence of a high number of companies intensifies the market competition as they compete to gain a significant market share. These companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches, to further enhance their market share.

Don’t miss the business opportunity in Nigeria Cybersecurity Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Nigeria Cybersecurity Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Nigeria Cybersecurity Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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