Asia-Pacific Cybersecurity Market, Applications, Market Demand and Forecast 2018Posted by facto on October 14th, 2019 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. Request a Sample Report @ https://www.factomarketinsights.com/sample/502 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. 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. 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. 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 What's covered in the report? o Overview of the Asia-Pacific cybersecurity market Like it? Share it!More by this author |