Endpoint Security Market Analysis in Asia Pacific and Industry Research Report To 2024 – The Courier | #malware | #ransomware | #hacking

Estimates suggest that the endpoint security market size in Asia Pacific will register more than USD 1 billion in annual revenue by 2024.

The surge in the number of cybercrimes or malware attacks owing to the rising usage of internet connected devices will anchor the Asia Pacific endpoint security market share over the coming years. The China Internet Network Information Centre (CNNIC), estimated that there were over 57.34 million new mobile internet users in 2017, and the annual count reached around 753 million for the same year. This increasing penetration of smartphones, broadband, and IoT has attracted a significant amount of cybercrime in China.

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Symantec, an online security firm, through its Internet Security Threat Report (ISTR), revealed that India was one of the leading countries to witness higher instances of cybercrimes in 2017. It also stated that Australia was the second-most affected country with a vast proportion of malicious email-borne attack links in the same year. This development has pushed government bodies to regulate favorable cybersecurity policies to ensure stronger data protection. The presence of several SMEs has paved the way for multiple growth opportunities for the endpoint security solution providers in the APAC region.

Need to secure government and healthcare data

APAC endpoint security anti-virus software industry is estimated to record over 21% of the total revenue share up to 2024. This can be credited to the growing awareness towards rendering protection to the IT networks through the latest and robust antivirus solutions. There is a continued occurrence of malware attacks on government institutions and corporate networks. This has necessitated the deployment of firewall & encryption technologies like endpoint security solutions and anti-malware to offer application identification and control.

The healthcare sector may account for 16% of APAC endpoint security market share by 2024 owing to the prevalence of cyberattacks on healthcare networks. This can be further attributed to the higher use of internet-connected devices that have driven to need to limit this network vulnerability with the help of endpoint security solutions, like intrusion prevention, anti-virus, and endpoint application control. The present COVID-19 pandemic could have also significantly influenced the demand for data protection concerning the affected patients.

Potential in the BFSI sector

Application of endpoint security tools in the BFSI sector could observe a 10% CAGR through the next few years. This is owing to the drastic surge in the number of cyberattacks and intrusions leading to the exposure of sensitive personal as well as business data and increased economic costs. For instance, India’s Cosmos Bank incurred a loss of USD 13.5 million on account of a malware attack triggered on its ATM server in August 2018.

Taking note of such instances, government agencies are coming up with severe security policies as an effective retort towards cyber threats. The China Banking Regulatory Commission (CBRC) offered cybersecurity protection to banks in May 2017 to eliminate the possibility of disruptive system risk events that occur in response to WannaCry ransomware attacks. Moreover, the committee is placing its efforts to guide banks for the proper assessment and monitoring of such events considering the adverse effects incurred by the attacks on over 30,000 organizations in the country.

Japan as a key market

The annual revenue from the Japan endpoint security market is poised to rise at a growth rate of 8% over the coming years. This is due to the expansion of some of the global cybersecurity firms to extend their cybersecurity infrastructure offerings to customers across the region. For instance, an American cybersecurity firm, Cylance launched its new office in Japan to support regional customers and OEMs.

Furthermore, the Government in Japan is formulating various policies and training initiatives to modify the cyber rating for the country. For instance, the IoT Cybersecurity Action Program inaugurated by the Ministry of Internal Affairs and Communications (MIC) in January 2017 is working towards establishing various training centers for a skilled cyber workforce in the country.

Rising presence in China

China ranks among the technologically advanced countries in the world and is prone to numerous cyberattacks. There is a rising demand for cloud-based infrastructures in the region along with the penetration of smartphones & connected devices owing to high connectivity.

Smartphones used by several users in the country act as electronic wallets and can be considered a primary target for hackers to conveniently steal the user’s payment details and personal information. On account of these factors, the endpoint security market in China is projected to amass more than 28% of the revenue share by 2024.

Providers of endpoint security services in the Asia Pacific are keen on marketing strategies to come up with new offerings to meet the rising consumer requirements. For instance, Trend Micro joined hands with Vivotek to render cyber defense solutions to its users in January 2018. These firms are also focusing on effective communication measures to enhance their innovations. For instance, Qihoo 360 Enterprise Security Group carried out regular discussions with vulnerability response platform developers to launch white the hat collaboration mechanism.

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Cisco, Comodo, Symantec, IBM, Eset, F-Secure, McAfee, Panda Security, Webroot, Kaspersky Lab, Microsoft, VIPRE, Sophos, and Ahnlab are some of the other renowned endpoint security companies.

Table of Contents (ToC) of the report:

Chapter 1.Methodology & Scope

  • Endpoint Security Market scope & definitions
  • Assumptions
  • Research methodology

Chapter 2.Executive Summary
Chapter 3.Industry Insights

  • Industry segmentation
  • Industry ecosystem analysis
  • Industry impact forces
    • Endpoint Security Market Growth drivers
    • Endpoint Security Market Growth restraints
  • Regulatory overview
  • Porter’s analysis
  • PESTEL analysis
  • Competitive landscape, 2017

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1158/asia-pacific-endpoint-security-market 

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