Banking & Financial Sector Of Countries Such As Singapore, Japan And South Korea Are More Vulnerable To Cyber Attacks

By Goldstein Market Intelligence || 2018-02-03 3:00:48 AM

Banking & Financial Sector Of Countries Such As Singapore, Japan And South Korea Are More Vulnerable To Cyber Attacks

According to Goldstein Research, “Exponential growth in cyber attacks is impacting the financial state of government and enterprises. Emerging trend of adopting advance technologies are making systems more vulnerable to cyber attacks. This has increased the demand for security packages and solutions to protect confidential data for industries such as government, military, banking financial service, IT and telecommunication, and many more in Asia-Pacific region.”

“Asia-Pacific (APAC) Cyber Security Market Outlook 2024”

The APAC cyber security market is categorized on the basis of security type, by solutions, by services, by deployment mode and by end-user. Security type is further segmented into network security, data & cloud security, wireless security, application security and other security types (database security, end-point security, web security). Increasing penetration of internet and usage of mobile data for banking and online marketing is increasing the cyber threats to these end user industries which are bolstering the demand for data & cloud security and network security to protect the confidential data from cyber attacks.

Ease of access to information and cost effective solution of cloud based services and solutions have increased the adoption of cloud security. However, risk of data leakage and loss of data is a major concern in the deployment of cloud security.

India is one of the fastest growing economies of the world. With increasing internet penetration and growing internet traffic in the country, vulnerability of cyber threats is increasing which is raising the demand for adoption of cyber security solutions in the region. India cyber security market is expected to reach nearly USD 2.8 billion by the end of 2024, growing at a CAGR of 11.0% during the forecast period.

Collaboration of public and private sectors are targeting to provide solutions for cyber threats

Singapore has launched National Cyber Security Masterplan for five years coordinating with public and private sector to fight against cyber threats. Countries such as China, India, Malaysia, Australia and Vietnam are also investing in improving cyber security infrastructures in the region.

“Asia-Pacific (APAC) Cyber Security Market 2024” contains detailed overview of the Asia-Pacific (APAC) cyber security market in terms of market segmentation by security type, by solutions, by services, by deployment mode and by end-user.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.

Asia-Pacific (APAC) cyber security market also provides competitive outlook of some of the major players of the APAC cyber security market which includes profiling of companies such as Cisco Systems Inc., IBM Corporation, Dell Root 9B, Herjavec, Check Point Software Technologies Ltd., Palo Alto Networks, Symantec Corp, McAfee, Kaspersky Lab, Trend Micro Inc., Fortinet Inc., FireEye Inc., Trend Micro, Imperva Inc., CyberArk Software Ltd. and AVG Technologies. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents comprehensive synopsis on the Asia-Pacific (APAC) cyber security market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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