Asia-Pacific Cyber Security Market, (By Component: Hardware, Software, Services & Others. By Security: Endpoint Security, Cloud Security, Network Security, Application Security, Data Security & Others. By End-User: Government and Defense, BFSI, IT and Telecom, Retail, Healthcare, Energy and Utilities & Other. By Region - Asia-Pacific) - Industry Market Analysis, Growth, Trends & Forecast, 2022 to 2032

The Asia-Pacific cyber-security market was valued at $29.12 billion in 2021 and it is expected to reach $270.3 billion at a CAGR of 21.30% between 2022 and 2032. Increased target-based cyber-attacks on businesses that disrupt operations, rising demand for IoT security solutions, an increase in data breaches, and growing concerns about cyber-attacks on vital infrastructure are some of the drivers propelling the market's expansion. However, difficulties in deploying and implementing cyber security solutions as well as the variety of complex cyber threats are anticipated to restrain market expansion.

By region, China has been dominating the cyber-security market across the Asia-Pacific.

The technique of protecting networks, computers, servers, mobile devices, electronic systems, and data from hostile intrusions is known as cyber security. It is often referred to as electronic information security or information technology security. The phrase can be broken down into a few basic categories and is used in a wide range of applications, including business and mobile computing. Most breaches happened in the medical industry, retail, and public sector, with malicious criminals being most often to blame. In addition, by analyzing Vietnam, Australia & New Zealand, Indonesia, Thailand, China, South Korea, India, Japan, and the rest of Asia Pacific, the growth of the cyber security market in that region is examined. China has fully understood and recognized the value of cybersecurity, advancing its standing to the level of national security.

Source: SAI Research

Download Free PDF Sample Request

However, both the government and businesses in Japan are quickly recognizing the need for cybersecurity. For instance, the rise in cyberattacks on Japanese businesses has prompted the government to propose new policies, infrastructure, and laws. Additionally, the American-based company FireEye Inc. provides cyber security solutions that help businesses prevent, prepares for, address, and respond to cyberattacks. To recognize and stop both known and new cyberattacks, the company offers cloud-based solutions as well as appliances that are unique to certain vectors.

With the widespread adoption of digitization, the demand for cybersecurity solutions has grown increasingly pronounced in the banking industry. The necessity for robust cybersecurity solutions for banks has been reinforced by the opening of new access points for cybercrimes. Cybersecurity awareness has strongly encouraged businesses to invest in security services. Governments and enterprises are likely to work with security solution providers given that cyberattacks frequently target numerous entities across continents. 

On the other hand, the industry is being pushed by new business models and applications as well as falling device costs, such as an increase in connected devices, such as consumer electronics, connected cars, factories, etc., which is boosting cybersecurity in businesses and driving the adoption of IoT.

Based on component type, the hardware segment accounted for the largest share of this market and is also anticipated to drive market growth during the forecast period. The hardware consists of encryption, firewall hardware, NAC hardware, and tokens for authentication. Hardware encryption provides security for both data in transit and data at rest. On host PCs, it does not require the installation of any drivers or software. It encrypts data stored on devices to protect against the most common assaults, such as cold boot attacks, harmful viruses, and brute force attacks. Additionally, the hardware is anticipated to assist enterprises in improving IT security by providing real-time threat monitoring and safeguarding the systems by stopping threats from entering computer systems.  

In terms of security type, the cloud security category has led the market growth over the last few years. The growth of social media, mobile technology, and cloud computing has led to an increase in reports of cybersecurity breaches across Asia Pacific nations. Cloud-based services, however, are always susceptible to data breaches and online threats. Enterprises are likely to embrace cloud security solutions due to the growing danger of unauthorized access, the rise in threat actors operating across cloud layers, and the rise in malware infiltrations.

By end-user type, the government and defense segment holds the largest market growth and is also anticipated to propel the market in the future. Due to the sensitive information they hold, government and defense companies are constantly at risk from state-sponsored hackers. As a result, numerous governments all over the world are making significant investments in enhancing their countries' cyber security, which ultimately contributes to the segment's growth. Several ads are allegedly targeted solely at state-owned media, IT, and telecom companies, as well as government agencies involved in finance, aerospace, and defense.

Geographically, China holds the largest market share of cyber-security across the Asia-Pacific region. Most of the key players are situated in China which is a plus point for market growth. In recent years, China has permitted a significant amount of internet access. This region uses digital technologies to their fullest potential to streamline payments and other services. Thus, a serious cyberattack is anticipated. The Chinese cybersecurity law, which is at the core of a much larger goal, has arguably attracted the most attention. However, many of the associated standards and measures are still in the draught stage. The majority of the present laws and strategies are final. On the other side, Japan is also anticipated to have more growth opportunities due to the adoption of cyber-security by numerous industry platforms. 

According to the study, key players such as AVG Technologies (Czech Republic), AT&T (U.S), CyberArk Software (U.S), Check Point Software Technologies (Israel), Cisco (U.S), Dell (U.S), F5 (U.S), F-Secure (Finland), Fortinet (U.S), Imperva (U.S), IBM Corporation (U.S), Kaspersky (Russia), Microsoft Corporation (U.S), NortonLifeLock (U.S), Oracle Corporation (U.S), Palo Alto Networks (U.S), Symphony Technology Group (U.S), Splunk Technology (U.S), Thoma Bravo (U.S), Trellix (U.S), among others are leading the Asia-Pacific cyber security market.

Scope of the Report:

The Asia-Pacific Cyber-Security Market Has Been Segmented Into:

The Asia-Pacific Cyber-Security Market – by Component Type:

• Hardware
• Software
• Services
• Others

The Asia-Pacific Cyber-Security Market – by Security Type:

• Endpoint Security
• Cloud Security
• Network Security
• Application Security
• Data Security
• Others

The Asia-Pacific Cyber-Security Market – by End-User

• Government and Defense
• BFSI
• IT and Telecom
• Retail
• Healthcare
• Energy and Utilities
• Other

The Asia-Pacific Cyber-Security Market – by Regions

Asia Pacific

• India
• China
• Japan
• South Korea
• Australia
• Singapore
• Thailand
• Sri Lanka
• Others