What do you know about Nigeria? Large country in Africa, which has export of oil, strong national football team, Boko Haram, financial sanctions and… Unfortunately, in most cases, if you ask somebody to tell you anything about Nigeria, the list of “insights” from your opponent will be very short. Probably, you will even hear from your friend that doing business in Nigeria is something that will not bring you any benefits, because the country has a lot of problem with corruption and economic vulnerability.
In Zillya! Laboratory, we have researched this question and found that such widely spread opinion about Nigeria it not fair and contains a lot of prejudice, especially in the light of potential cyber security business!
In 2015, we made research of Nigerian antivirus software market and found that this country has a great potential for doing cyber security business in the nearest future. Let’s get into some facts about Nigeria that will dispel your doubts about unrevealed potential of “African tiger”.
Nigeria is the country #1 in Africa in terms of population and number of Internet users.
Only imagine – according to Internet World Stats the number of Internet users on 30th of June 2016 was more than 92 million! For example, the total population of Germany is only 81 million. Moreover, taking into account that Internet penetration in Nigeria is only 51%, country has great potential for further growth and becoming TOP-5 world’s countries with the greatest number of people connected to the Internet (after India, China, USA, and Japan).
What does it mean for “doing cyber security business”? It is obvious that growing number of Internet users will attract scammers and frauds that always keep their hands on pulse of economy and know when to attack. Nigerians in the nearest 5-10 years will be attacked heavily by representatives of the world of cybercrime, especially, if to take into account weaknesses of Nigerian cyber security infrastructure.
Nigerian antivirus software market has high level of competition, but not the highest.
Our research has shown that Nigeria is getting more popular as country for expansion for market leaders. Symantec, Kaspersky, Avast, MacAfee and other top market layers are looking for the chance to take strong position on Nigerian market, but there are also vendors that quite market due to low prices for the products, competitors and lack of understanding how to work with such big and differentiated country. For instance, Avira, eScan, Dr. Solomon has made their exit after several tries to build the business from the ground up.
Our experience tells us that if you want to enter Nigerian antivirus software market with your own solution, you have to do it as quick as possible not to miss the boat, which is not overloaded yet. In case if you have reliable partner in Nigeria or you really understand country’s business conditions and people mentality, it is time to act and to fight for approximately $30 million market.
To know how to create your own antivirus software solution and to enter cyber security market, read our OEM Practical Guide or contact our business development ream directly. We will gladly help you!