Frost & Sullivan’s recent analysis of the Asia-Pacific (APAC) network security (NWS) market finds that the increasing acceptance of remote work and adoption of cloud, the remote workplace, collaboration, and security are driving growth. The emergency adoption of remote work due to the pandemic has led to investments in upgrading security control systems to protect remote employees. Additionally, the increased number of highly sophisticated cyber-attacks (organized or government-backed) on critical infrastructure and government organizations is driving organizations and businesses in the region to increase their investment in cybersecurity technologies to strengthen their threat detection and response capabilities. As a result, the buoyant market is estimated to hit $7.32 billion by 2025 from $5.12 billion in 2020, registering steady growth at a compound annual growth rate (CAGR) of 7.4%.
“From a technology perspective, as demand for secure software-defined wide-area network (SD-WAN) and secure cloud edge services solutions soars, the network firewall segment will continue to be the leading force for the overall NWS market growth over the forecast period,” said Vivien Pua, Information & Communication Technology Industry Analyst at Frost & Sullivan. “Similarly, the secure remote access segment is expected to maintain its strong growth momentum, mainly fueled by the increasing need for high-performance, secure remote access that has been soaring due to work-from-home environments.”
Pua added: “On a macro level, stringent regulatory compliance around data privacy and protection continues to be a key market driver, particularly for highly regulated industries, such as BFSI, government, telecommunications, and healthcare, and sectors that have critical infrastructure.”
Organizations are increasing their investments in cybersecurity technologies, presenting lucrative growth prospects for NWS market participants, such as: