Asia Pacific Cybersecurity Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Asia Pacific Cybersecurity Market is segmented by Product Type (Solutions, Services), Deployment (On-cloud, On-premise), End-user Industry (Aerospace and Defense, Banking, Financial Services, and Insurance, Healthcare, Manufacturing, Retail, IT and Telecommunication), and Country.

APAC Cybersecurity Industry Overview

Asia Pacific Cyber Security Market Summary
Study Period: 2018 - 2028
CAGR: 18.3 %

Major Players

Asia Pacific Cyber Security Market Major Players

*Disclaimer: Major Players sorted in no particular order

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APAC Cybersecurity Market Analysis

Asia Pacific cybersecurity market is expected to register a CAGR of 18.3% during the forecast period. Due to the advent of IoT and the growing speed and scope of digital transformation in this region, the current network infrastructure is becoming more exposed to cyberattacks. Internet, social media, and mobile users have all seen significant increases in recent years, contributing to the region's strong rise in cybersecurity. The Asia-Pacific cybersecurity industry is expected to expand even more due to the increasing severity of these attacks and strict government laws.

  • The growing internet usage in both developed and developing countries increases the adoption of cybersecurity solutions. Additionally, due to increased data susceptibility brought on by the expansion of the wireless network for mobile devices, cybersecurity has become a crucial component of every organization.
  • Many emerging countries, such as India, China, Singapore, and Japan, face increasing cybersecurity-related issues. India ranks third in the number of DNS hijacks, indicating a sharp rise in cybercrime registration. Additionally, Asia received 26% of all worldwide attacks in 2021, according to IBM X-Force Threat Intelligence Index 2022, making it the most attacked area globally. India tops the list of the most frequently attacked country in Asia. Recent research by the Australian Cyber Security Growth Network entitled the cybersecurity sector might triple in size over the next ten years.
  • Although there have been several cybersecurity events in recent years, most of them have remained hidden. Recent high-profile incidents that significantly impacted many common persons have brought public conversation and government and regulatory body attention to the forefront. For Instance, CERT-In, India's official cybersecurity organization, issued a direction relating to Information security practices, procedures, prevention, response, and reporting of cyber incidents for safe and trusted internet to impose stringent cybersecurity reporting requirements. It stated that India had recorded over 2.12 lakh cybersecurity incidents as of February 2022.
  • The industry is being driven by new business models and applications as well as reducing device costs, such as an increasing number of connected devices, including consumer electronics, connected cars, factories, etc., which is driving the adoption of IoT and strengthening cybersecurity in enterprises. So, The adoption of M2M/IoT connections drives the cybersecurity market.
  • Low preparedness and a high reliance on conventional authentication techniques are challenging. In a market environment where security professionals advise identity-management solutions like facial recognition and biometric identification, more than 80% of organizations still rely solely on usernames and passwords for login, which could challenge growth.
  • The APAC cybersecurity market is anticipated to grow significantly as a result of the recent COVID-19 outbreak because of the rising trend of cyberattacks involving malware and ransomware in the context of COVID-19, which is forcing the organizations to adopt cybersecurity solutions as many of them have switched to remote work environments amid lockdown in various countries.
  • As more people use cloud-based services during this pandemic and operate in unfamiliar, less secure environments, this is becoming a hotspot for cyberattacks. According to Barracuda Sentinel, email threats linked to COVID-19 have grown by 67%. As a result, cloud-based cybersecurity solutions are essential during this pandemic and are predicted to develop.

APAC Cybersecurity Industry Segments

IT advancements, communication technologies, and smart energy grids are transforming the landscapes of nearly every country's essential infrastructure and commercial networks. Rapidly changing technology, however, brings with it rapidly advancing hazards. Cybersecurity solutions assist a company in monitoring, detecting, reporting, and countering cyber threats, which include internet-based attempts to damage or disrupt information systems and hack crucial data using spyware and malware, as well as phishing to protect data confidentiality. The study's market size is based on end-user spending on cyber security systems and services.

The Asia Pacific Cybersecurity Market is segmented by Product Type (Solutions, Services), Deployment (On-cloud, On-premise), End-user Industry (Aerospace and Defense, Banking, Financial Services, and Insurance, Healthcare, Manufacturing, Retail, IT and Telecommunication), and Country. 

By Product Type
Solutions
Identity and Access Management
Threat Detection and Prevention (Unified Threat Management and Threat Mitigation)
Security and Vulnerability Management
DDoS Mitigation
Next Generation Firewall
IDS/IPS​
Security Information and Event Management
Other Solutions
Services
By Deployment
On-cloud
On-premise
By End-user Industry
Aerospace and Defense
Banking, Financial Services, and Insurance
Healthcare
Manufacturing
Retail
IT and Telecommunication
Other End-user Industries
By Country
China
India
Japan
South Korea
Rest of Asia Pacific

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APAC Cybersecurity Market Trends

This section covers the major market trends shaping the APAC Cybersecurity Market according to our research experts:

Cloud Deployment Drives the Market Growth

  • The increasing realization among companies about the importance of saving money and resources by moving their data to the cloud rather than building and maintaining new data storage drives the demand for cloud-based solutions, hence increasing the adoption of on-demand security services.
  • Owing to these benefits, large enterprises and SMEs in the region are increasingly adopting cloud-based solutions. Over the next few years, cloud platforms and ecosystems are expected to serve as the launch pad for an explosion in the pace and scale of digital innovation.
  • According to the CISCO Cybersecurity Series latest report, Asia Pacific countries tend to have higher percentages of their infrastructures hosted in the cloud rather than on-premise. 16% are hosted between 80–100%, compared to just 9% in this bracket globally. 52% of organizations in Asia Pacific countries felt the ease of use of cloud deployment, and 50% of the organization in the region felt cloud deployment of cybersecurity solutions offers better data security.
  • With the rising adoption of cloud services, like Google Drive, Dropbox, and Microsoft Azure, and with these tools emerging as an integral part of business processes, enterprises have to deal with security issues, such as losing control over sensitive data. This gives rise to the increased incorporation of on-demand cyber-security solutions.
  • The company, such as Microsoft in the region, offers Cloud-based endpoint protection technology that enables employees to work when, where, and how they need to function and can allow them to use the devices and apps they find most useful to get their work done.
APAC Cybersecurity Market : Cloud Adoption of Enterprise Infrastructure, by segment, In %, from 2020 to 2022, in India

China Occupy Maximum Market Share

  • Growing cyber-attacks in the country have propelled China to strengthen its defensive capabilities. The government is also a major source of cyberattacks in other parts of the world. According to the statistics provided by Cloudflare, in March 2022, China accounted for 45 percent of the world's cyberattack traffic.
  • The increasing initiatives by the government and the related regulatory bodies to strengthen cloud security are expected to fuel the adoption of cyber security-based solutions over the forecast period.
  • The Cyberspace Administration of China issued new measures for cybersecurity review in January 2022 for critical information infrastructure operators (CIIO) purchasing network products and services, which may influence national security. Under this measure, Important communications products, high-performance computers or servers, mass storage equipment, large database or application, cloud computing service, or any other network product or service that has an important influence on the security of any critical information infrastructure, CIIO should apply to Cybersecurity Review Office (CRO) for cybersecurity review.
  • Moreover, encryption has met greater resistance in China. The government's encryption regulations and implementation are among the most restrictive in the world, giving the government full access to all encrypted content within its domestic territory. Article 31 of China's Cryptography Law allows the State Cryptography Administration to inspect and access encrypted systems. Since conversations are not end-to-end encrypted, this rule applies to all industries, including social media platforms like WeChat, which are required (and able) to turn over all user data.
  • Owing to technological advancements, there is an increase in the number of connected devices in China. It is the world's largest Internet of Things (IoT) market. Furthermore, 5G and 5G enabled devices will exponentially increase the devices' interconnectivity. As a result, it increases connected devices, directly augmenting the market's need for security products.
APAC Cybersecurity Market : Proportion of Types of Cybersecurity Problems, in %, in 2020-2021, China

APAC Cybersecurity Market Competitor Analysis

The Asia Pacific cybersecurity market is moderately fragmented. Players in the market adopt strategic initiatives such as mergers and acquisitions, partnerships, and new product offerings due to increasing awareness regarding mobility security among enterprises. Some of the recent developments in the market are:

  • March 2022 - BlackBerry Limited announced 13 channel partners, including distributors and value-added integrators, who would provide BlackBerry Jarvis 2.0 to companies in the Asia Pacific region developing secure, mission-critical systems. BlackBerry Jarvis is a binary software composition analysis (SCA) and security testing tool designed to detect and list open-source software and software licenses within embedded systems and cybersecurity vulnerabilities and exposures.

APAC Cybersecurity Market Top Players

  1. AVG Technologies (Avast Software s.r.o.)

  2. IBM Corporation

  3. Check Point Software Technologies Ltd

  4. Cisco Systems Inc.

  5. Dell Technologies Inc.

*Disclaimer: Major Players sorted in no particular order

Asia Pacific Cyber Security Market Concentration

APAC Cybersecurity Market Recent Developments

  • July 2022 - A new partnership between Cyware and CyberQ Group would strengthen cybersecurity capabilities in the Asia Pacific region. This partnership would provide advanced managed security services that enable customers to combine, analyze and autonomously share threat intelligence while enhancing threat response collaboration of Cyware's Cyber Fusion and Collective Defense technologies for MSSPs.
  • February 2022 - The IBM Security Command Center in India represents a sizeable investment in security incident response and training for organizations throughout APAC. It is designed to prepare everyone from the C-Suite to technical staff by training cybersecurity response techniques through highly realistic, simulated cyberattacks. The investment also includes a brand-new Security Operation Center (SOC), which would be added to IBM's extensive worldwide network of SOCs and would offer clients all over the world round-the-clock security response services.

APAC Cybersecurity Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Value Chain Analysis

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Competitive Rivalry within the Industry

    4. 4.4 Industry Guidelines and Policies

    5. 4.5 Assessment of the Impact of the COVID-19 on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Rapidly Increasing Cybersecurity Incidents and Regulations Requiring Their Reporting

      2. 5.1.2 Growing M2M/IoT Connections Demanding Strengthened Cybersecurity in Enterprises

    2. 5.2 Market Restraints

      1. 5.2.1 Lack of Cybersecurity Professionals

      2. 5.2.2 High Reliance on Traditional Authentication Methods and Low Preparedness

    3. 5.3 Market Opportunities

      1. 5.3.1 Rise in the Trends of IoT, BYOD, Artificial Intelligence, and Machine Learning in Cybersecurity

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Product Type

      1. 6.1.1 Solutions

        1. 6.1.1.1 Identity and Access Management

        2. 6.1.1.2 Threat Detection and Prevention (Unified Threat Management and Threat Mitigation)

        3. 6.1.1.3 Security and Vulnerability Management

        4. 6.1.1.4 DDoS Mitigation

        5. 6.1.1.5 Next Generation Firewall

        6. 6.1.1.6 IDS/IPS​

        7. 6.1.1.7 Security Information and Event Management

        8. 6.1.1.8 Other Solutions

      2. 6.1.2 Services

    2. 6.2 By Deployment

      1. 6.2.1 On-cloud

      2. 6.2.2 On-premise

    3. 6.3 By End-user Industry

      1. 6.3.1 Aerospace and Defense

      2. 6.3.2 Banking, Financial Services, and Insurance

      3. 6.3.3 Healthcare

      4. 6.3.4 Manufacturing

      5. 6.3.5 Retail

      6. 6.3.6 IT and Telecommunication

      7. 6.3.7 Other End-user Industries

    4. 6.4 By Country

      1. 6.4.1 China

      2. 6.4.2 India

      3. 6.4.3 Japan

      4. 6.4.4 South Korea

      5. 6.4.5 Rest of Asia Pacific

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 AVG Technologies (Avast Software s.r.o.)

      2. 7.1.2 IBM Corporation

      3. 7.1.3 Check Point Software Technologies Ltd

      4. 7.1.4 Cisco Systems Inc.

      5. 7.1.5 Cyber Ark Software Ltd

      6. 7.1.6 Dell Technologies Inc.

      7. 7.1.7 Fireeye Inc.

      8. 7.1.8 Fortinet Inc.

      9. 7.1.9 Imperva Inc.

      10. 7.1.10 Intel Security (Intel Corporation)

      11. 7.1.11 Palo Alto Networks Inc.

      12. 7.1.12 Proofpoint Inc.

      13. 7.1.13 Rapid7 Inc.

      14. 7.1.14 Broadcom Inc.

      15. 7.1.15 Trend Micro Inc.

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OF THE MARKET

**Subject to Availability
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APAC Cybersecurity Market Research FAQs

The Asia Pacific Cybersecurity Market is studied from 2018 - 2028.

The Asia Pacific Cybersecurity Market is growing at a CAGR of 18.3% over the next 5 years.

AVG Technologies (Avast Software s.r.o.), IBM Corporation, Check Point Software Technologies Ltd, Cisco Systems Inc., Dell Technologies Inc. are the major companies operating in Asia Pacific Cybersecurity Market.

Asia Pacific Cybersecurity Industry Reports

In-depth industry statistics and market share insights of the Asia Pacific Cybersecurity sector for 2020, 2021, and 2022. The Asia Pacific Cybersecurity research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Asia Pacific Cybersecurity report PDF.

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