According to Frost & Sullivan's recent analysis on the Asia-Pacific (APAC) network security (NWS) market, the demand for security control systems to guard and protect remote work is rising. Owing to the pandemic, companies and businesses are adopting evolved work models, remote working, along with usage of cloud based platforms. Due to increased acceptance of the hybrid work model and the cyber security risks associated with it, companies and organizations are investing more on cyber security technologies and other required infrastructures. The cyber security market is anticipated to rise from $5.12 billion in 2020 to $7.32 by 2025 with a compound annual growth rate (CAGR) of 7.4%.
Significant growth is expected in the network security market and reportedly rising investments in cyber technologies. The idea is to enhance malware and cyber attack threat detection as well as response systems. Government organizations, companies and businesses are channeling their capital in automated threat management systems, secure remote and zero trust network access, SD-WAN and critical infrastructure protection.
Talking about the recent trends Vivien Pua, Information & Communication Technology Industry Analyst at Frost & Sullivan said, "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".
With growing cyber security concerns, the need for a secure remote access system is on demand and is expected to scale up due to remote working. "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", added Pua.