Security companies in Asia-Pacific need to foster strong integration and collaboration with third-party vendors, says Frost & Sullivan
SANTA CLARA, Calif., Nov. 18, 2020 /PRNewswire/ — Frost & Sullivan’s recent analysis, Integration of Capabilities Transforming the Asia-Pacific Network Security Market, 2020, finds that enterprises’ heightened threats from criminal entities and state-sponsored actors are strongly encouraging them to adopt network security solutions. Driven largely by the firewall segment and integrated security appliances (ISA) segment, the Asia-Pacific (APAC) network security market is expected to reach $6.94 billion by 2024 from $4.75 billion in 2019, up at a compound annual growth rate (CAGR) of 7.9%. However, the fallout of the COVID-19 pandemic has adversely impacted the network security market, and its future growth will also be affected over the next one to two years as the market grapples to recover.
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“Going forward, security vendors need to continue fostering strong integration and collaboration with third-party vendors, to fortify and strengthen their in-house offerings and provide a holistic solutions portfolio,” said Vivien Pua, Information & Communication Technologies Industry Analyst at Frost & Sullivan. “From a market segment perspective, the firewall segment is the largest and fastest-growing market due to rapid adoption of next-generation firewalls (NGFWs) across the region. Similarly, intrusion detection systems/intrusion prevention systems (IDS/IPS) is seeing an emergence of next-generation technology in the form of Next-Generation IPS (NGIPS) as it (NGIPS) provides greater granularity in security data, which allows for better network security management.”
Pua added: “In addition, the secure sockets layer virtual private network (SSL VPN) segment is also expected to grow steadily over the next 5 years, as remote working becomes more prevalent in the region.”
To tap into the growth prospects presented by the network security market, vendors should focus on the following:
- Regional 5G Deployments: Partner with service providers to design a network equipped with a wide variety of advanced security safeguards.
- Need for connectivity amid remote working: Provide business continuity packages or emergency licensing models to help enterprises cope with the rising need for VPN.
- Business opportunities in China: Work with local clients wishing to expand their business outside China as vendors already have two sets of products compatible with both Chinese and international standards.
- SD-WAN with next-generation firewall features: Offer integrated products to meet market demand for robust and secure SD-WAN.
Integration of Capabilities Transforming the Asia-Pacific Network Security Market, 2020 is the latest addition to Frost & Sullivan’s Information & Communication Technologies research and analysis available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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Integration of Capabilities Transforming the Asia-Pacific Network Security Market, 2020
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