Cloud Computing, Virtualization Create Opportunities for APAC Network Security Market

The Asia-Pacific network security market is growing exponentially, fueled by challenges posed by cloud computing and virtualization, including threat exposure. A new report from Frost & Sullivan finds that the market grew by 5.7 percent year-on-year in 2012, with 7 percent quarter-on-quarter growth for Q2 2012.

That represents a total network security market of $2.16 billion in the Asia-Pacific region in 2012, with the research company forecasting that number to reach $3.62 billion by 2018.

According to the report, the rising number of cyber attacks has created massive concern for enterprises. Not only do these types of threats cause serious financial losses, but they also attract negative publicity to companies and brands. These types of threats, in tandem with increases in bring-your-own-device (BYOD) policies, create a variety of network vulnerabilities and security challenges.

Frost & Sullivan posits that service providers and security vendors need to not only provide effective network security solutions, but they must also adopt additional features like content security and application-layer solutions. The need for these types of services creates a variety of challenges and opportunities for the Asia-Pacific region.

"With Asia-Pacific's economy racing ahead, the region is teeming with opportunities for IT developers and, consequently, network security technology vendors," said Misun Yoon, an ICT research analyst with Frost & Sullivan. "Further, an escalation in the volume of data in enterprises is compelling companies to find ways to secure their environment."

"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," Yoon added. "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."

Those types of targeted and enhanced features will create significant opportunities for security developers and managed service providers (MSPs) alike.