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Government-led Initiatives Setting the Stage for Robust Growth in Security
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The Asia-Pacific network security market recorded a revenue of $3.13 billion and a year-on-year (YoY) growth of 13.9% in 2016, performing better than the year earlier which saw a YoY growth rate of 9.8%. The growth was fueled by the strong performance of major countries such as China, Japan, Australia, and India and was also aided by the high growth rates of the Philippines and Hong Kong. The service provider segment continued its dominance with the largest share of the market at 24.4% and also attained the highest growth of 18.1% YoY. In addition to the market growth analysis, the key driving forces have been identified and further elaborated in the study. The rise of cyber attacks such as ransomware has spurred the demand for network security solutions. In addition, data protection authorities are becoming more stringent in checks, imposing penalties, and releasing the names of organizations which failed to protect their consumers’ data. Local authorities have also created cyber security agencies and led initiatives to encourage risk assessments and consulting services to private enterprises to improve their security infrastructure, including network security. Key Target AudienceThe key target audience includes:• End users such as banking industries, local governments, industrial sector, healthcare institutions, IT solution providers, etc.• Managed security service providers• Security vendors• Researchers focusing on network security • Educational bodies• Channels, distributors, or resellers of security productsResearch ScopeThe market trends are analyzed for the study period 2015 to 2021, with the base year being 2016. The countries included in this study are Australia, New Zealand, Singapore, Malaysia, Indonesia, the Philippines, Thailand, Vietnam, China, Hong Kong, Taiwan, India, Japan, and South Korea.Network security solution is the key focus area of this study. The vertical segmentation in this study includes the government; banking, financial services, and insurance (BFSI); service provider; healthcare; manufacturing; education; and other sectors. The customer segmentation includes large enterprises with more than 500 employees as well as small and medium-sized businesses with less than 500 employees.Companies mentioned in the network security market's competitive landscape include Check Point, Cisco, Fortinet, Palo Alto Networks, IBM Security, Pulse Secure, Sangfor, F5 Networks, Huawei, Venustech, Topsec, Juniper Networks, NSFOCUS, SonicWall, WatchGuard, and others. Key Questions This Study Will Answer• Is the network security market growing? How long will it continue to grow, and at what rate? • Are the existing competitors structured correctly to meet customer needs? • Will network security continue to exist, or will other solutions and services take its place? • What are the most common network security threats in Asia-Pacific? • Are the vendors in the market ready to go it alone or do they need partnerships to take their business to the next level?
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