Recent research by Frost & Sullivan on the APAC network security industry shows that remote work and cloud usage, as well as collaboration and security, are driving growth.
The network security market is expected to grow steadily by 2025
As a result of the epidemic, remote workers have been forced to upgrade their security control systems.
As a result of the increasing number of highly sophisticated cyberattacks (organised or government-backed) on critical infrastructure and government agencies, organisations and businesses in the region are increasing their investments in cybersecurity technologies to strengthen their threat detection and response capabilities. A 7.4 percent compound annual growth rate (CAGR) is expected to propel the market from $5.12 billion in 2020 to $7.32 billion in 2025.
Because of the increasing need for secure software-defined wide-area network (SD-WAN) and secure cloud edge services solutions, Frost & Sullivan analyst Vivien Pua believes that network firewalls will continue to be the primary driver in the overall NWS market growth over the projection period.
It’s projected that the secure remote access segment will also continue to rise rapidly due to the growing need for high-performance, secure remote access that has been soaring due to work-from-home situations.”
Investing more in Network Security
Cybersecurity investments are expanding, creating significant growth opportunities for NWS market actors, such as the following:
- Short-term increase in the replacement of threat prevention platforms :Due to the requirement for integrated and automated threat management platforms that are high-performing, many large companies will be updating and replacing their systems.
- Demand for secure remote access and zero-trust networks in the short term: Vendors should assess their channel partner strategy to improve business outcomes and channel partner engagement.
- Increased interest in SD-WAN security: In order to educate the market and assist businesses reach their goals, vendors should collaborate closely with their local channel partners.
- Growing demand for protection of key infrastructure: In order to defend CI from cyberattacks, market participants should focus on cybersecurity solutions. Their portfolios may need to be expanded to incorporate industrial control system security or operational technology security solutions.