According to a market report, published by Sheer Analytics and Insights, The Asia-Pacific cyber-security market was valued at $29.12 billion in 2021 and it is expected to reach $270.3 billion at a CAGR of 21.30% between 2022 and 2032. The current network infrastructure is becoming more vulnerable to cyberattacks as a result of the emergence of IoT and the accelerating pace and scope of digital transformation in this area. Users of the internet, social media, and mobile devices have all increased significantly in recent years, which have aided the region's rapid growth in cybersecurity. Due to the increased intensity of these attacks and stringent government regulations, it is anticipated that the Asia-Pacific cybersecurity business will grow even more. In addition, one of the key elements that are projected to fuel demand for diverse cybersecurity solutions is the increased accuracy and frequency of cyber-attacks across the Asia-Pacific region. The essential mechanism for access and control is now digital identification. As a result, it forces businesses to acquire cybersecurity solutions.
The popularity of cybersecurity solutions is expanding as internet usage rises in both developed and developing nations. Additionally, cybersecurity has developed into a critical element of every firm due to the increasing data susceptibility caused by the expansion of the wireless network for mobile devices. In addition, a lot of developing nations including Japan, Singapore, China, and India face growing cybersecurity-related problems. India comes in third place in terms of DNS hijacks, which shows a strong increase in the reporting of cybercrime.
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Government agencies have increased efforts to combat these threats as the Asia Pacific has become one of the regions that are most frequently targeted by ransomware and other cyberattacks. The implementation of data breach reporting and data protection regulations is imminent in several APAC nations. Microsoft stated its plans to bring together APAC nations with the cybersecurity council in May 2021. They emphasized the value of governments working with IT firms to strengthen cyber-defense plans.
Additionally, Due to the rapid expansion of e-commerce platforms, the Chinese cybersecurity market is predicted to hold a commanding market share. As a result, the demand for cybersecurity solutions has increased, with Bluedon being the top operating company and a key player in the industry in terms of offering the best security solution to its clients. Furthermore, Japan is the region's largest contributor to the cybersecurity market and is anticipated to keep that position during the forecast period due to government regulations requiring government organizations to apply universal cybersecurity standards. Additionally, as a result of the increasing frequency and sophistication of cyberattacks, the Tokyo Olympics and Paralympic Games in Japan have drawn more attention to cybersecurity.
On the other side, the complexity of the network architecture for cyber security increases with technological advancement. There are too many access points for threats to properly target today's virtual corporation. Additionally, cyberattacks target network faults to infiltrate business networks by taking advantage of these holes. Numerous new zero-day risks have emerged as a result of increasing degrees of complexity. Attackers use covert methods and techniques to access a company's corporate network. Organizations underinvest in their security infrastructures due to ignorance about sophisticated cyber threats, which results in significant losses and might impede the growth of the cyber security market.
Some new developments in the Asia-Pacific cyber-security market:
- On 1st June, 2022, the first ever Asia-Pacific cybersecurity council was established by Microsoft. The goal is to establish a reliable communication pathway for handling online threats and exchanging best practices among the member nations.
- On 23rd February, 2022, In Bangalore, IBM opened an Asia-Pacific cyber security center. IBM's investment will increase the region's organization’s capacity for cyber-resilience. Significant research findings on the situation of cybersecurity in Asia were revealed throughout the discussion.
According to the study, key players dominating the Asia-Pacific cyber-security market are AVG Technologies (Czech Republic), AT&T (U.S), CyberArk Software (U.S), Check Point Software Technologies (Israel), Cisco (U.S), Dell (U.S), F5 (U.S), F-Secure (Finland), Fortinet (U.S), Imperva (U.S), IBM Corporation (U.S), Kaspersky (Russia), Microsoft Corporation (U.S), NortonLifeLock (U.S), Oracle Corporation (U.S), Palo Alto Networks (U.S), Symphony Technology Group (U.S), Splunk Technology (U.S), Thoma Bravo (U.S), Trellix (U.S), among others.
The Asia-Pacific Cyber-Security Market Has Been Segmented Into:
The Asia-Pacific Cyber-Security Market – by Component Type:
- Hardware
- Software
- Services
- Others
The Asia-Pacific Cyber-Security Market – by Security Type:
- Endpoint Security
- Cloud Security
- Network Security
- Application Security
- Data Security
- Others
The Asia-Pacific Cyber-Security Market – by End-User
- Government and Defense
- BFSI
- IT and Telecom
- Retail
- Healthcare
- Energy and Utilities
- Other
The Asia-Pacific Cyber-Security Market – by Regions:
Asia Pacific
- India
- China
- Japan
- South Korea
- Australia
- Singapore
- Thailand
- Sri Lanka
- Others
Browse the full report at https://www.sheeranalyticsandinsights.com/market-report-research/asia-pacific-cyber-security-market-21
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