Quadintel published a new report on the Asia-Pacific Cybersecurity Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
With increased internet penetration, cyberattacks are becoming more powerful, allowing hacker’s greater access to new technology. One such example is the production a malware called Flame’. Asia-Pacific cybersecurity market is anticipated to grow at an overall compound annual growth rate (CAGR) of 15% and will be worth of USD 46.09 Bn by 2023. The improved accuracy and frequency of cyber threats across different parts of the Asia-Pacific region is one of the predominant factors that is anticipated to drive the demand of various cybersecurity solutions.
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COVID-19 Impact Analysis
The pandemic of COVID-19 has also reduced the availability of and demand for non-COVID-19-related medical treatment. A wide range of treatments, including emergency care for acute diseases, routine check-ups, and recommended cancer screenings, are being postponed or avoided by patients. Undiagnosed illnesses and a failure to intervene early will have serious long-term health consequences. COVID-19 has accelerated a variety of existing and emerging healthcare trends, including changing consumer attitudes and habits, the convergence of life science and health care, rapid advances in digital health technologies, and new talent and care delivery models, to name a few.
Increase in cloud services, for social media and mobile devices, has made traditional security systems obsolete. Digital identity has become the crucial access to control mechanism. Hence, it enforces the adoption of cybersecurity solutions among Enterprises.
By countries, the Asia-Pacific cybersecurity market is divided into China, Japan, India and the rest of APAC. Japan is one of the largest markets in the Asia-Pacific region. This is because the country had already mandated uniform cybersecurity standards for government organizations in 2014, to prevent unauthorized access and activity. The Japanese government is working on a number of policies and awareness initiatives to improve the cyber rating of the country. On the other hand, China has allowed massive internet penetration in the past few years, this region makes the maximum use of digitized platforms to ease payments and other services. And is hence expected to face severe cyberattack. Thus, the China cybersecurity market is expected to grow at high pace.
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By end use industries, Asia-Pacific’s cybersecurity solution are classified into financial services, telecommunication, healthcare, public sector, and others. The Financial sector is expected to dominate the market because this sector is heavily targeted by cyber threats. In 2016, Japan witnessed a massive cyber-attack- around 14000 ATMs were attacked and the banking sector had to face huge cybercrime costs.
Key growth factors:
o The prime factor that is propelling the cybersecurity market in the Asia-Pacific region is the huge risk associated with cyberattacks. APAC had already faced a loss of USD 81 Bn in 2016.
o It is reported that more than 80% of organizations in the region are targeted owing to rising digitization, hence, increase in the severity of attacks is likely to propel the market.
Threats and key players:
o The factors that hinder cybersecurity are lack of sufficient budget, lack of management support, shortage of resource. It is also reported that about 75% of the Asian population lacks a proper understanding of cybersecurity
o APAC countries facing data breaches shows growing concerns about company reputations, profit downtime, etc.
o The key players in this markets area Cisco System, IBM Corporation, check point Software, Palo Alto Network Inc., Symantec, and Trend Micro Inc.
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What’s covered in the report?
o Overview of the Asia-Pacific cybersecurity market
o The current and forecasted market size data for the Asia-Pacific cybersecurity market
o The current and forecasted market size data for the segments of the market, by end users industries – financial services, telecommunication, healthcare, public sector, and others
o The current and forecasted market size data for the segments of the market, by solution- identity and access management, encryption, governance regulation and compliance, unified threat management, and security information and event management
o Market trends in the Asia-Pacific cybersecurity market
o Market drivers and challenges in the Asia-Pacific cybersecurity market
o Current and forecasted countries – Japan, China, India, and rest of APAC market size data for the Asia-Pacific cybersecurity market.
o Analysis of company profiles of the major players operating in the market
o Get a broad understanding of the Asia-Pacific cybersecurity market and its segments – By region, by solution, and by end-user industries
o Get region-specific drivers and challenges affecting the Asia-Pacific cybersecurity market?
o Recognize significant competitors’ business and market dynamics, and respond accordingly
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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Table of Contents:
- Market Overview
- Market Definition and Scope
- Market Dynamics
- Market Industry Analysis
- Market, Regional Analysis
- Analysis of Leading Companies
- Competitive Intelligence
- Research Process
- Market Analysis and Forecast, By Product Types
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