Cloud stoking demand for network security in Asia Pacific: Frost & Sullivan

• Proliferation of mobile devices at the workplace increase corporate networks’ susceptibility to cyber threats
• Network security market earned revenues of US$2.16bil in 2012, expected to reach US$3.62bil in 2018

VIRTUALISATION and the popularity of cloud computing have thrown up numerous challenges for enterprise networks, with threat exposure being one of them. The spurt in security requirements saw the Asia Pacific network security market grow by 5.7% in 2012 year-on-year and 7% quarter-on-quarter in Q2 2012.
 
According to Frost & Sullivan’s Asia-Pacific Network Security Market report, the market earned revenues of US$2.16 billion in 2012, and the market research firm estimates this would 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,” she added.
 
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, Frost & Sullivan said in a statement.
 
The bring-your-own-device (BYOD) trend, while offering flexibility in business, has created several vulnerable spots in the network for hackers to attack, the company added.
 
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,” said Yoon.
 
“Considering the US and European markets are battling financial constraints, it is vital for network security vendors to succeed in the Asia Pacific region,” she added.
 
The Asia-Pacific Network Security Market report is part of Frost & Sullivan’s Network Security Technologies Growth Partnership Service programme.
 
Related Stories:
 
More Malaysian SMBs to invest in network security: Fortinet
 
Security on the cloud: Myths dispelled
 
Cloud growing in Asia, but companies face new challenges
 
 
For more technology news and the latest updates, follow @dnewsasia on Twitter or Like us on Facebook.