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Asia Pacific Cybersecurity Market Size By Product Type (Identity, Authentication and Access Management (IAAM) [Access Management, Identify Access Management], Infrastructure Protection [Endpoint Protection, Email/Web Gateway, Security Information and Event Management (SIEM), Vulnerability Management, Cloud Security, Data Loss Prevention (DLP)], Network Security [Internet Service Provider Equipment, Virtual Private Network (VPN), Unified Threat Management (UTM), Firewall], Security Services [Implementation, Managed Security Services, Consultancy & Training, Hardware Support]), By Organization (SME, Government, Large Enterprises), By Industry (Banking, Government, Manufacturing, Transportation, IT & Telecom, Insurance, Securities), Industry Analysis Report, Regional Outlook (ANZ, China, India, Japan, South Korea, Philippines, Thailand, Singapore, Malaysia), Growth Potential, Competitive Market Share & Forecast, 2020 – 2026
Published Date: December 2020 | Publisher: Graphical Research Report ID: GR1570 | Delivery : PDF  Request Free Sample

APAC Cybersecurity Market share estimated to be over USD 35 billion in 2019 and is expected to register a lucrative growth between 2020 and 2026 at a CAGR of over 20%.
 

Cybersecurity Market, By Network Security

 APAC Cybersecurity Market

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The profound 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.

The network security segment is expected to grow at a CAGR of above 25% over the forecast period. The growth is 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.

The government segment is projected to account for a share of over 25% in the APAC market by 2026 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.

Japan held over 15% of the total market share in 2019 due 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.

The cybersecurity vendors in the region are investing heftily in R&D for new product developments and forging strategic partnerships to strengthen their product portfolio. For instance, in February 2019, Cisco partnered with the Economic Development Board (EDP) of Singapore government to set up a Cybersecurity Centre of Excellence (CCX). This helped the company to strengthen its threat intelligence research and response capabilities in the APAC region.

Some of the leading companies operating in the Asia Pacific 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.
 

Frequently Asked Question(FAQ) :

The industry share of APAC Cybersecurity is projected to expand at 20% CAGR during 2020 to 2026.
The market size of APAC Cybersecurity was valued over USD 35 billion in 2019.
The network security segment is expected to grow at a CAGR of above 25% over the forecast period. The growth is attributed to the rising importance of security solutions for the prevention of malware intrusion in enterprise networks.

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