ASEAN Cyber Security Market Size (2024 - 2029)

The ASEAN Cybersecurity Market is experiencing significant growth, driven by the increasing need for enhanced cybersecurity measures due to rising cyberattacks and the accelerated digital transformation prompted by the pandemic. The market's expansion is further fueled by the growing adoption of application security solutions, which are crucial for protecting organizational assets from various security threats. The advent of 5G technology and the proliferation of connected devices are also contributing to the market's growth, as they facilitate the industrial revolution 4.0 and increase the demand for robust cybersecurity measures.

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Market Size of ASEAN Cyber Security Industry

ASEAN Cyber Security Market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 18.50 %
Market Concentration Medium

Major Players

ASEAN Cyber Security Market Major Players

*Disclaimer: Major Players sorted in no particular order

ASEAN Cybersecurity Market Analysis

The ASEAN Cybersecurity Market is expected to register a CAGR of 18.5 % during the forecast period (2022-2027). The pandemic has further accelerated the need for cybersecurity as enterprises planning to execute months-long business continuity plans (BCP), including information security monitoring and response while operating under quarantine conditions, focused on enhancing cybersecurity.

  • Growing cyberattacks in the ASEAN region have propelled various countries in the region to strengthen its defensive capabilities. However, the region also stands to be a one of the major source of origin for cyberattacks in other parts of the world.
  • Application security has gained importance recently amid COVID-19 led situations. The solution helps ensure that an organization's information and assets are protected from security threats such as data breaches, malware, denial of service (DDoS) attacks, and viruses. Applications, which are prominently used in enterprises, as well as for personal use, are witnessing tremendous adoption owing to the IT initiatives coupled with the growing smartphone penetration, regionally.
  • In addition, the advent of 5G is expected to expedite the use of connected devices in the industries that are already pushing toward industrial revolution 4.0. This revolution has aided cellular connectivity throughout the industry through the rise of IoT. Machine-to-machine connections are driving the traction of application security.
  • According to the National Cyber and Encryption Agency (BSSN), in Indonesia, the development of 5G technology has also created a loophole in cybersecurity, as the technology will enable faster stealing of data. With the existence of many loopholes in Indonesian websites, digital economy fraud and ransomware attacks are expected to rise in the nation. Two civil groups condemned cyberattacks on the websites of two prominent institutions and the social media account of a scientist, all of whom have been critical of the government's handling of the COVID-19 pandemic in April 2020.

ASEAN Cybersecurity Industry Segmentation

The study analyzes the current market scenario and growth trends related to cyber security technology in the ASEAN region, which has emerged as one of the major hotspots for investments, aided by strong M&A activity, partnerships and supportive governmental policies. The study tracks the country-level market dynamics and major implementation use cases for cybersecurity.

Major trends, such as AI in cybersecurity, changing regulatory framework across countries, and convergence of IT and OT across end-user industries, are also captured in the study.

The competitive landscape has been taken to calculate the cybersecurity penetration and how players involve themselves in organic and inorganic growth strategies. Furthermore, the market study has also focused on the impact of the COVID-19 pandemic on the market ecosystem.

By Offering
Security Type
Cloud Security
Data Security
Identity Access Management
Network Security
Consumer Security
Infrastructure Protection
Other Types
Services
By Deployment
Cloud
On-premise
By End User
BFSI
Healthcare
Manufacturing
Government & Defense
IT and Telecommunication
Other End Users
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ASEAN Cyber Security Market Size Summary

The ASEAN Cybersecurity Market is experiencing significant growth, driven by the increasing frequency of cyberattacks and the region's role as a source of cyber threats globally. The COVID-19 pandemic has accelerated the demand for robust cybersecurity measures as businesses adapted to remote operations and heightened security needs. The rise of application security has become crucial in protecting organizational assets from various threats, including data breaches and malware attacks. The proliferation of connected devices, fueled by the advent of 5G and the push towards Industry 4.0, has further emphasized the need for enhanced cybersecurity solutions. Despite these advancements, challenges such as cybersecurity loopholes in rapidly developing technologies like 5G remain a concern, particularly in countries like Indonesia.

The shift towards cloud-based solutions is reshaping the cybersecurity landscape in the ASEAN region, as enterprises seek to optimize resources and enhance security without substantial capital investment. Cloud platforms are becoming pivotal in driving digital innovation, with Cloud Security Posture Management (CSPM) playing a vital role in managing security across diverse infrastructures. The market is characterized by a fragmented landscape with major players like IBM, Cisco, and Fujitsu adopting strategies such as mergers, acquisitions, and partnerships to strengthen their market presence. Initiatives in countries like Singapore aim to establish best practices and manage cybersecurity risks across critical sectors, while companies are introducing solutions to help businesses, particularly SMEs, navigate the complex cybersecurity landscape.

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ASEAN Cyber Security Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Value Chain Analysis

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitutes

      5. 1.3.5 Intensity of Competitive Rivalry

    4. 1.4 Impact of Covid-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Offering

      1. 2.1.1 Security Type

        1. 2.1.1.1 Cloud Security

        2. 2.1.1.2 Data Security

        3. 2.1.1.3 Identity Access Management

        4. 2.1.1.4 Network Security

        5. 2.1.1.5 Consumer Security

        6. 2.1.1.6 Infrastructure Protection

        7. 2.1.1.7 Other Types

      2. 2.1.2 Services

    2. 2.2 By Deployment

      1. 2.2.1 Cloud

      2. 2.2.2 On-premise

    3. 2.3 By End User

      1. 2.3.1 BFSI

      2. 2.3.2 Healthcare

      3. 2.3.3 Manufacturing

      4. 2.3.4 Government & Defense

      5. 2.3.5 IT and Telecommunication

      6. 2.3.6 Other End Users

ASEAN Cyber Security Market Size FAQs

The ASEAN Cyber Security Market is projected to register a CAGR of 18.5% during the forecast period (2024-2029)

Cisco Systems Inc, IBM Corporation, Fujitsu Thailand Co. Ltd, Red Sky Digital Ventures Ltd and Info Security Consultant Co. Ltd are the major companies operating in the ASEAN Cyber Security Market.

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ASEAN Cybersecurity Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)