Asia Pacific Cybersecurity Market size surpassed USD 35 billion in 2019 and is estimated to witness 20% CAGR between 2020 and 2026. 

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The market growth is attributed to the extremely high cyber threat potential and weak cyber security threat mitigation efforts. Various governments across the region have undertaken initiatives to accelerate digitalization, leading to frequent & sophisticated cyber-attacks. This has driven the adoption of cybersecurity solutions in the region. These solutions ensure the security of enterprise digital assets and significantly reduce the impacts of financial losses by reliable detection and prevention of cyberattacks such as network intrusion and malware infection.

Asia Pacific Market, By Product Type

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The Asia Pacific cybersecurity market form network security segment will showcase around 25% growth rate during the forecast timeline, attributed to the rising importance of security solutions for the prevention of malware intrusion in enterprise networks. The rising proliferation of the internet and IoT devices has made modern networks complex and highly prone to cyber threats. Network security solutions ensure the proper functioning of corporate security networks by offering the latest anti-malware and anti-virus protection and ensuring zero system downtimes.

Asia Pacific Cybersecurity Market, By Organization

The government segment dominated over 25% market share in 2019, due to the critical nature of data, large-scale financial impact of cyber-attacks, and the increasing budget allocations for cybersecurity systems. Government agencies are rapidly becoming targeted by malicious hackers for financial abuse and data thefts, causing huge financial losses and impeding national growth. According to the August 2019 report on cyber security threats in the APAC region published by the Government of Australia, the cost of a cyber-attack on government enterprises was more than USD 30 million. The increasing pressure to mitigate financial losses and maintain a positive outlook for citizens will further drive the government sector toward the adoption of cybersecurity solutions.

Asia Pacific Market, By Country

Japan cybersecurity market held over 15% revenue share in 2019, owing to the large-scale adoption of security solutions by the manufacturing sector. According to the Global Threat Intelligence Report 2018 by NTT Security, manufacturing was the most attacked industry in Japan with 24% of all attacks. Additionally, the adoption of cybersecurity solutions in Japan has also been fueled by several government initiatives on strengthening the national data security infrastructure. The ministry of Internal Affairs & Communications (MIC) has set up cybersecurity training centers throughout Japan to build a highly technical and skilled cyber workforce.

Competitive Industry Landscape

Some of the leading companies operating in the Asia Pacific cybersecurity market include BAE Systems, Check Point Software, Cisco Systems, Inc., CyberArk Software Ltd., F-Secure Corporation, F5networks, Inc., FireEye, Inc., Fortinet, Inc., Hewlett-Packard, Ltd., IBM Corporation, Intel Corporation, McAfee LLC, Microsoft Corporation, Oracle Corporation, Palo Alto Networks, Inc., Proofpoint Inc. Rapid7, RSA Security, LLC., Sophos Group plc, Splunk, Inc, Symantec Corporation, and Trend Micro, Inc.