Market Insights
The Asia-Pacific cyber security market was estimated at USD 13.30 billion in 2015 and is projected to reach USD 34.30 billion by 2020, at a CAGR of 20.86% over the forecast period. Many of the critical infrastructure components are completely dependent on IT systems as it provides the foundation for information exchange for sectors like voice, data, video, and internet connectivity. As such, IT systems are a part of other key security and emergency preparedness resources and are an important component of the overall national critical infrastructure. Cyber-infrastructure protection and security are impending matters in the international security environment.
Market Dynamics
With technological advancements exponentially rising in the IT industry, new security challenges are required to be addressed. After Edward Snowden exposed the snooping activities of global communication channels, many nations were jolted over their security situation and raised concerns over the USA’s act of massive surveillance. Information warfare, which is the competitive use of information in survival contests, has been a pervasive feature of conflict since the beginning of recorded history.
The advent of digital technologies for collection, storage, analysis, and distribution of information has created a world of insecurity, providing numerous new opportunities in the Asia-Pacific cyber security market. According to recent white paper reports, data breaches significantly impact consumer confidence. Cyber security is rather relatively untouched in the Asia-Pacific region, with very few countries having implemented national cyber security strategies to deal with cyber threats. Country’s willingness to integrate cyber security in their region shall drive the market steadily.
Market Segmentation
The Asia-Pacific cyber security market is segmented by security type (network, cloud, end-point, application, wireless network, etc.); by industry (aerospace, defense, intelligence, banking, financial services and insurance sector, healthcare, retail, manufacturing, etc.); by solution (IAM, DLP, SVM, IPS, UTM, enterprise risk and compliance, managed security services, etc.) and regionally (China, Japan, India and others).
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