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Regulatory Enforcement and a Wave of New Cyber Security Related Laws Continue to Drive Market Growth in the Region
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The Asia-Pacific network security market maintained steady growth momentum with a YoY growth of 15.1% in 2018. Firewall segment remained the largest revenue contributor with a double-digit YoY strong growth.IDS/IPS segment experienced a slower growth due to the decrease demand of siloed security products in the region. In terms of market share, Greater China region (GCR), Japan and ASEAN remained the top three leading regions in Asia-Pacific network security market during 2018.As APAC organizations have started to embark on digital transformation journey, the expanding attack surfaces could expose them to greater cyber security risks. To better manage cyber security risks, organizations are increasingly putting priorities on cyber security solutions that could give them full visibility into each stage of cyber attack lifecycle, spanning across prediction, detection, prevention, mitigation and response stages.The enforcement of General Data Protection Regulation (GDPR) in 2018 has driven the security investment among enterprises in the region. The strong cyber regulations and enforcement actions by authorities urged enterprises to invest in cyber security in order to comply with compliance laws and regulations. Other countries have also introduced similar regulations to combat cyber threats be it Singapore Cybersecurity Bill, Anti-Fake News Law in Malaysia, etc.
Market trends are analyzed for the study period 2017 to 2023, with 2018 as the base year. Market trends such as vendor performance, vertical market splits, and enterprise-size splits are analyzed in this study. The countries included in this study are Australia, New Zealand, Singapore, Malaysia, Indonesia, the Philippines, Thailand, Vietnam, China, Hong Kong, Taiwan, India, Japan, South Korea and the rest of ASEAN countries.
This study is segmented to three key focus areas which covered firewall, Secure Sockets Layer Virtual Private Networking (SSL VPN) and Intrusion Detection System (IDS) & Intrusion Prevention System (IPS). 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 this tracker include 360 ESG, Check Point Software Technologies, Cisco Systems, F5 Networks, Fortinet, H3C Technologies, Hillstone Networks, Huawei, Juniper Networks, McAfee, Neusoft, NSFOCUS, Palo Alto Networks, Pulse Secure, Sangfor, SonicWall , Sophos, TopSec, Trend Micro, Venustech, WatchGuard Technologies and other vendors.
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