|By PR Newswire||
|August 19, 2013 11:57 PM EDT||
KUALA LUMPUR, Malaysia, Aug. 19, 2013 /PRNewswire/ -- Virtualization and the popularity of cloud computing have thrown up numerous challenges for enterprise networks; threat exposure is one of them. Owing to the spurt in security requirements, the Asia-Pacific network security market grew by a healthy 5.7 percent in 2012 year-on-year (YoY) and 7.0 percent on quarter-on-quarter (QoQ) in Q2 2012.
New analysis from Frost & Sullivan (http://www.networksecurity.frost.com), Asia-Pacific Network Security Market, finds that the market earned revenues of US$2.16 billion in CY 2012 and estimates this to reach US$3.62 billion in 2018.
"With Asia-Pacific's economy racing ahead, the region is teeming with opportunities for IT developers and consequently, network security technology vendors," said Frost & Sullivan ICT Research Analyst Misun Yoon. "Further, an escalation in the volume of data in enterprises is compelling companies to find ways to secure their environment."
Enterprises are becoming ever more concerned about the rising incidence of cyber attacks as they not only cause significant financial losses, but also attract negative publicity. The recent bring-your-own-device (BYOD) trend, while offering flexibility in business, has created several vulnerable spots in the network for hackers to attack.
Due to the sophisticated threat landscape, particularly in light of the escalating instances of application-layer attacks, vendors need to provide not only network security solutions but also adopt other features such as content security and application-layer solutions.
"The network security market is expected to be dominated by feature play on integrated platforms, as enterprises seek to expand their security footprint without incurring significant costs," noted Yoon. "Considering the U.S. and European markets are battling financial constraints, it is vital for network security vendors to succeed in the Asia-Pacific region."
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Asia-Pacific Network Security Market is part of the Network Security Technologies Growth Partnership Service program. Frost & Sullivan's related research services include: PAC WAN Optimization Controller Market, APAC Web Application Firewall Market, and APAC Application Delivery Controller Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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SOURCE Frost & Sullivan