Indonesia Cybersecurity Market Size (2024 - 2029)

Indonesia Cyber Security Market Analysis

The Indonesia Cybersecurity Market size is estimated at USD 1.15 billion in 2023, and is expected to reach USD 3.39 billion by 2028, growing at a CAGR of 24.19% during the forecast period (2023-2028).

• The key drivers contributing to the increase in the adoption of data-intensive approaches and decisions with the growth include the increase in the number of cyber-attacks globally with the growing digitalization has the potential to damage the Internet-linked digital infrastructure of various government or private sector enterprises, thereby significantly driving the market’s growth rate.
• One of the growing economies is Indonesia, which has been investing in information technology infrastructure and rising smartphone and internet penetration. Although the country has made progress in ICT, it does not have adequate cybersecurity safeguards that can be exploited by hackers. In this way, the need for security measures is growing due to an increasing number of Internet of Things connections.
• Cybersecurity collaboration is an efficient way to tackle the growing challenge of cyber threats. Organizations can benefit from synergies of knowledge, resources, and expertise working together to improve threat detection response to incidents or strengthen their security. Therefore, the growing collaborations at a global level are analyzed to contribute to the growth rate of the cybersecurity services market.
• To achieve improved efficiency and competitiveness, organizations are increasingly reliant upon digital transformation as it involves the integration of digital technologies in all business operations. Businesses have collectively been driven to a new stage of technological sophistication by the development of cloud-based infrastructure, interconnections among IoT devices, and the use of artificial intelligence in data analysis. However, this digital renaissance has also expanded the attack surface for cyber threats, necessitating a proportional growth in cybersecurity strategies.
• As organizations undergo digital transformation, the challenges associated with seamlessly integrating advanced cybersecurity solutions with existing legacy systems become increasingly evident. Legacy infrastructure, characterized by outdated hardware, software, and protocols, poses limitations to implementing modern cybersecurity measures. Combining these outdated systems with modern technology frequently results in an environment that makes it more challenging to implement and maintain strong cybersecurity frameworks.
• Due to the COVID-19 pandemic, governments worldwide have encouraged everyone to work from home, and technology has grown increasingly pervasive in everyone's personal and professional lives. The rise in remote working exposes people to greater cyber risk. Cybercriminals take advantage of this opportunity to ramp up their criminal activity.

Indonesia Cyber Security Industry Segmentation

Cybersecurity solutions help organizations monitor, report, and counter cyber threats to maintain data confidentiality. The adoption of cybersecurity solutions is expected to grow in line with the rising internet penetration among developing and developed countries. The need for cybersecurity has increased as every system in today's world is connected to the internet, making data more accessible to cybercriminals. The study further analyses the impact of COVID-19 on the ecosystem.

The Indonesian cybersecurity market is segmented by offering (security type and services), deployment (cloud and on-premises), and end user (BFSI, healthcare, manufacturing, government and defense, IT and telecommunication, and other end users). The market sizes and forecasts are provided in terms of value in (USD) for all the above segments.