APAC Internet Security Market

APAC Internet Security Market Size (2024 to 2029)

The Asia-Pacific Internet security market is expected to be worth USD 24.86 billion by 2029 from USD 13.49 billion in 2024 and grow at a CAGR of 13.01% during the forecast period.

Internet security solutions are used to protect the computer system and ensure the perfect execution of activities. The Internet is an insecure channel for sharing information based on intrusions such as fraud or phishing. The protection and transmission of data over the Internet use a variety of methods, including data encryption, firewalls, antivirus and more. As more people and organizations connect to the Internet through the web and email, VoIP and other services worldwide, threats to security increase day by day. Such attacks continue to evolve with more sophisticated and technological advances.

APAC Internet Security Market Drivers

The main drivers of the APAC Internet security market are the increased use of the Internet due to advances in wireless communications technology, Internet security through cloud services, strict government regulations and increased financial activity online.

Internet security solutions cover a wide range of industries, including banking financial institutions and services, retail, telecommunications and information technology, government, manufacturing, education, defense, aerospace and others. 

The evolution of cyber threats has also created numerous government regulations. Commercial companies must meet essential safety standards. Failure to comply with these rules imposes a certain number of fines on the government. Emphasis is placed on various security guidelines and features that must be followed by various regulations such as the Health Insurance Portability and Accountability Act (HIPPA), the Payment Card Industry Data Security Standard (PCI-DSS) and the Certification and Accreditation Process for Defense Information Assurance (DIACA). Therefore, strict government measures taken to implement compliance worldwide require companies to implement Internet security solutions for data privacy.

APAC Internet Security Market Restraints

However, the growing demand for the complexity of Internet security industry standards, regulations and device security are some of the main factors that hinder the market growth.

REPORT COVERAGE

This research report on the APAC Internet Security market has been segmented and sub-segmented based on the following categories.

APAC Internet Security Market By Type

• Hardware
• Software  
• Services    

Based on the type, the Asia Pacific Internet security market is divided into software, hardware and services. The software was the segment with the highest revenue in 2018, and the service segment is foreseen to record the highest growth rate during the estimated period. The increasing adoption of antivirus and firewall securities by large, small and medium enterprises has contributed to the growth of the software segment in the regional market.

APAC Internet Security Market By Technology

•  Authentication      
• Access Control       
• Content Filtering  
• Cryptography         

Based on technology, The APAC Internet security market is classified as an authentication technology, access control technology, content filtering and encryption technology. Of these, the authentication segment was the most profitable sector in 2018, owing to the strict login mechanisms required to protect the confidential information from extruders or unauthorized access.

APAC Internet Security Market By Application

• BFSI            
• Information Technology    
• Telecommunications          
• Retail         
• Government/Defence       
• Education
• Healthcare              
• Aerospace               

Based on the application, the defense/government applications sector led the regional market in 2018, representing almost 27.0% of total sales. High spending on security solutions and concerns about data leakage from intelligence, research and development and financial activities can lead to cyber terrorism, which is acting as a catalyst for the development of this sector.

APAC Internet Security Market By Country

• China
• India
• japan
• South Korea
• South East Asia
• Australia & NZ
• Rest of Asia-Pacific

As the economic importance of Asia Pacific in security matters increases, the country's national cybersecurity efforts have been activated. Countries like India and China are rapidly shifting towards digitalization in all sectors, and internet security activity is more likely to increase in the region. Therefore, the governments of China and India are working to develop reliable and robust cybersecurity policies and action plans, which are foreseen to reduce the impact of cybercrime in the region.

KEY MARKET PARTICIPANTS

The APAC internet security market is led by important companies such as MacAfee, AVG Technologies, Palo Alto Networks, Kaspersky Lab, Trend Micro Inc., Symantec Corporation, Cisco Systems, IBM Corporation, Dell Root 9B, Fortinet Inc., Imperva Inc., and CyberArk Software Ltd.

RECENT HAPPENINGS IN THE MARKET

• In Jan 2020, Insight Partners, a private equity firm has completed the acquisition of Israel-based cybersecurity company Armis which valued around USD 1.1 billion.

• As of Jan 2020, Accenture is about to acquire Symantec’s Cyber Security Services from Broadcom, Inc, strengthening the former’s ability in managed security services in terms of expecting, identifying, and counteracting the internet threats.