Market Insights Technology Cybersecurity Cyber Solutions

Application Security - ASEAN

ASEAN

The Application Security market in ASEAN is forecasted to witness a significant increase in revenue, reaching a staggering US$50.16m by 2024.
This projection is based on the expected annual growth rate (CAGR 2024-2029) of 14.58%, which would result in a market volume of US$99.04m by 2029.
Moreover, the average Spend per Employee in the Application Security market is estimated to reach US$0.14 in 2024.
This metric provides insights into the investment made per employee in this sector.
When comparing the revenue generated globally, it is noteworthy that United States is expected to dominate the market, with an estimated revenue of US$3,004.0m in 2024.
This signifies United States' position as a key player in the Application Security market.
In ASEAN, the application security market is experiencing significant growth as businesses prioritize protecting their digital assets.

Key regions: Spain, Belgium, Brazil, India, Chile

Market

Region

Region comparison

Currency

Methodology

Data coverage:

Data encompasses B2C, B2B and B2G enterprises. Figures are based on security spending excluding VAT and the number of cyberattacks.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial statements of the market-leading companies and industry associations, national statistical offices, and specific countries’ security organizations (e.g., German Cyber Security Council, Canadian Centre for Cyber Security). Furthermore, we use relevant key market indicators and data from country-specific associations, such as GDP and internet penetration. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. Possible techniques are, for example, exponential trend smoothing and the autoregressive integrated moving average (ARIMA) forecasting algorithm. The main drivers are GDP, internet users, level of digitization, and consumer attitude towards data and IT security.

Additional notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.