Philippines: cyber solutions market revenue by segment 2023

Concerning the six selected segments, the segment Other Solutions has the largest revenue with 37.24 million U.S. dollars. Contrastingly, Cloud Security is ranked last, with 2.87 million U.S. dollars. Their difference, compared to Other Solutions, lies at 34.37 million U.S. dollars.

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Revenue of the cyber solutions market in the Philippines in 2023, by segment (in million U.S. dollars)

Characteristic	Revenue in million U.S. dollars
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Supplementary notes

Data provided by Statista Market Insights are estimates.

Definition:
Cyber solutions refer to automated security technologies that help monitor and secure IT systems, data, networks, and digital assets, protecting against cyberattacks, which can cause, among other things, phishing, information extortion, and/or data breaches. These technologies are also used to detect, report, and counter cyberattacks. They consist of a range of products, services, and approaches that are designed to minimize the impacts of cyber threats on governments, organizations, and individuals based on their unique cybersecurity profile, the industry landscape, and regulation policies.

Structure:

The Cyber Solutions market is divided into six distinct markets, based on different types of security solutions:

Application security refers to a solution that ensures the development, deployment, and continuous maintenance of software applications that are of great importance within the context of cybersecurity.
Cloud security refers to a solution that is designed to assure the security of applications, data, and IT infrastructure within a cloud computing environment.
Data security refers to a solution that encrypts sensitive data and prevents unauthorized access as well as data leaks.
Network security refers to a solution that employs robust firewalls and advanced detection and prevention systems, along with the effective design of a secure network architecture. This constitutes a foundational defense strategy against malicious actions.
Endpoint security refers to endpoint protection, i.e., a comprehensive security approach to protect end user devices, such as laptops, servers, and mobile devices, from being attacked by cybercriminals.
The Other Solutions market aggregates revenues of the security solutions that are not specifically mentioned in the other cyber solution markets, such as identity and access management or risk management.

Additional information:

The Cyber Solutions market comprises revenues, revenue change, average spend per employee, as well as a list of the key players in the market and their consolidated revenues. Market values represent revenues that are generated by primary vendors, either directly or through distribution channels (manufacturer prices, excluding VAT). Reported market revenues include consumer spending (B2C), business spending (B2B), and government spending (B2G). Detailed definitions of each market can be found on the corresponding market pages. Key players in the market include IBM, Broadcom, and Cisco.

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