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Greater Proliferation of Targeted Cyber-attacks and Data Breaches Remains the Key Driver of Cyber Security Spending
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The Asia-Pacific network security market recorded a YoY growth of 11.8% in Q2 2018, slightly slower as compared to Q1 2018 which grew at 15.7% YoY. Industries that hold highly valuable data such as Banking, Financial services and Insurance (BFSI), the government, service providers and healthcare sector are being targeted more frequently. These attractive targets for cyber-attacks have significantly increased their spending in cyber security to improve cyber resilience.In Q2 2018, healthcare sector was the fastest growing verticals with a YoY growth of 21.8%. Service provider, government and BFSI sectors were the top 3 key revenue contributors in the market, with a combined contribution of more than 60% of market share. The small and medium-sized business segment recorded a slightly stronger YoY growth at 13.2%, recorded a larger market share of 34.8% as compared to last quarter. Research Scope:This tracker provides an analysis of the total network security market in the Asia-Pacific region for Q2 2018 (April to June) period. 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, and South Korea.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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