Asia Pacific Application Security Market Forecast 2021-2028
The Asia Pacific application security market is set to record a CAGR of 17.99% during the forecast period, 2021-2028. The lack of cybercrime legislation and awareness and knowledge of basic security in the region makes it vulnerable to digital thefts. This is also one of the major reasons for malware attacks like ransomware. Such factors present market growth opportunities.
Indonesia, Japan, India, South Korea, China, Australia & New Zealand, Vietnam, Thailand, Singapore, and Rest of Asia Pacific are evaluated for the Asia Pacific application security market growth assessment. In Japan, companies' growing focus on the threats associated with access to corporate resources below security levels is one of the market growth drivers. There are also several regulations in place for curbing security breaches. Also, businesses in critical infrastructure are investing to safeguard their models, given the cybersecurity threats. Further, the government introduced a Basic Act on Cybersecurity. It established the National Centre of Incident Readiness and Strategy for Cybersecurity (NISC). Such factors enable market growth in Japan.
In countries like Indonesia, most businesses have low security awareness, and hence penetration testing becomes a necessity in the country. The government collaborated with the US in 2018 to promote strong cyberspace co-operation. Further, in Vietnam, rapid technological developments have facilitated the access and sharing of information on the internet. This has also made the country vulnerable to sophisticated cyber-attacks. Moreover, cashless payments are surging in the country, doubling in value in the first three quarters of 2018. The shifting preference to digital payments, the growing penetration of smartphones and the internet, the thriving e-commerce industry, and the surging need for immediate transactions, are the important factors propelling market growth in Vietnam.
Some of the eminent companies in the market are Synopsys, Trustwave, Veracode, Whitehat Security, Sitelock, Rapid7 Inc, etc.
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• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
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