Market Insights Technology Cybersecurity Cyber Solutions

Network Security - ASEAN

ASEAN

The Network Security market in ASEAN is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$0.56bn in 2024.
This indicates a promising future for the Network Security market sector in ASEAN.
Furthermore, the market is anticipated to demonstrate a compound annual growth rate (CAGR 2024-2029) of 12.30%, resulting in a substantial increase in market volume.
By 2029, the Network Security market in ASEAN is projected to reach a market volume of US$1.00bn.
These figures highlight the potential for expansion and development within the Network Security market industry in ASEAN.
In terms of expenditure, the average Spend per Employee in the Network Security market is expected to reach US$1.62 in 2024.
This indicates the level of investment that companies in ASEAN are willing to make to ensure the security and protection of their networks.
When considering global comparisons, it is worth noting that United States is expected to generate the highest revenue in the Network Security market.
In 2024, the projected revenue United States alone is estimated to be US$10,830.0m.
This highlights the dominance of the United States in the global Network Security market.
Overall, the Network Security market in ASEAN is poised for growth and offers promising opportunities for businesses operating in this sector.
The projected revenue, market volume, and spending per employee figures underline the potential for development and expansion in this market segment.
In ASEAN, the network security market is experiencing significant growth due to the increasing focus on cybersecurity measures by both government and private sector entities.

Key regions: United States, Germany, Saudi Arabia, Brazil, Chile

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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.