Opportunities in the Cybersecurity Sector in Peru
Peru has greatly increased digital access over the past decade and efforts underway will continue to close the gap as expansion of continues into rural areas deep in the interior – via satellite connections and associated hardware installation.
Opportunities for U.S. producers cyber/IT of goods and services are on par with that of other developing countries of its size. 32% of organizations in Peru suffered cyber-attacks over the last two years and the need for quality cyber security policies and products and services is highlighted through the fact that 65% of organizations in Peru allocate between 1% and 5% of the IT budget for cybersecurity, while only 18% of organizations allocate a budget greater than 10%. 80% of companies have a general awareness program on cyber threats, of which only 7% were formal and focused, and 20% were tested and improved. These statistics highlight the needs and opportunities for U.S. cyber security products and services in Peru.
Peruvian Government efforts focusing on digital security bolster both public and private sector demand for related products and services.
Top cyber challenges in Peru are:
- The Government of Peru is establishing a Digital Security Center but resources/staffing are limited.
- A report by the OECD noted Peru had a strong legal structure for digital policymaking authorities. Peru has issued a cyber-defense law though continues to lack a clear digital policy and strategy and, thus, remains a bit lost on the issue.
- Peru is just developing an understanding on the issues of data localization and cross border data flows.
- According to statistical reports, Peru occupies the 4th place in cyber-attacks in Latin America after Brazil, Mexico and Colombia.
- During 2019, at least 57% of Peruvian companies suffered a ransomware attack, with Peru being the most attacked country in Latin America. Vulnerability and malware attacks have also been detected.
- Among the most affected sectors are technology, education and health.
Local sector expert will make a presentation on overview, challenges and opportunities for U.S. companies in the cybersecurity industry in Peru.
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