Asia-Pacific Cybersecurity Market Size Grow with a High CAGR- Global Industry Analysis, Key Manufacturers, Trends, and Forecasts 2022-2031

The report titled Asia-Pacific Cybersecurity Market which was recently added by Kenneth Research, aims at providing the clients with the business growth and investment opportunities present in the market globally. Further, the market is evaluated on various parameters that is covered in the report and further includes market size, market volume and the growth rate over the forecast period, i.e., 2022-2031. The market is further anticipated to grow with a robust CAGR throughout the forecast period.

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In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country’s goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.

On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

Asia-Pacific Cybersecurity Market

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.

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.

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.

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

Why buy?

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

Customizations Available
With the given market data, Kenneth Research offers customizations according to specific needs. Write to us at info@netscribes.com.

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The Market report answers the following questions:

What is the aim of the report?

  • The market report presents the estimated market size of Asia-Pacific Cybersecurity Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
  • Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
  • An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
  • The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
  • The various parameters accelerating the growth of Market are incorporated in the research report.
  • The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

  • Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
  • The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
  • The growth rate of the market in every region, including their countries over the forecast period is included in the market report.

Based on what factors are the key market players assessed in this report?

  • The report offers detailed analysis of leading companies in the market across the globe.
  • It provides details of the major vendors involved in the Market including Key Players
  • A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
  • The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
  • The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

  • Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
  • The report offers the present scenario and future growth prospects Market in various geographical regions.
  • The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
  • The SWOT analysis is conducted along with Porter’s Five Force analysis.
  • The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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