NewswireToday - /newswire/ -
Kuala Lumpur, Malaysia, 2007/08/14 - New analysis from global growth consulting company, Frost & Sullivan, Asia Pacific Network Security Market 2006, reveals that the market - covering 14 Asia-Pacific countries to reach a market size of US$2.38 billion by end-2013.
The Asia-Pacific network security solutions market is expected to pose strong growth this year on the back of increasing infrastructure developments in emerging nations.
The market grew 8.4 percent (year-on-year) in 2006, and is estimated to grow by 16.6 percent this year, driven by the need for layered security. Much of this growth is expected to come from markets like China, India, Malaysia and Vietnam, where network upgrades have been extensive and the economy continues to liberalise.
New analysis from global growth consulting company, Frost & Sullivan (networksecurity.frost.com), Asia Pacific Network Security Market 2006, reveals that the market - covering 14 Asia-Pacific countries - was worth approximately US$1.28 billion in 2006, and is forecasted to grow at a CAGR (compound annual growth rate) of 9.3 percent (2006-2013) to reach a market size of US$2.38 billion by end-2013.
The banking, financial services and insurance (BFSI) sector was the biggest spender on network security solutions accounting for over 23 percent of the market revenues in 2006, followed by the government sector (19 percent) and service provider segment (17 percent).
Robust growth was noted in the ASEAN countries such as Singapore, Malaysia and Indonesia, with rising adoption of security solutions by enterprises as well as service providers.
"The continuous influx of foreign direct investments (FDI) in China and India has also prompted significant uptake of network security solutions," says Frost & Sullivan industry analyst Arun Chandrasekaran. "Network infrastructure upgrades and expansions continue unabated in these countries in an effort to increase their global competitiveness."
"Technology convergence is expected to further drive the demand for integrated security appliances as network service providers seek comprehensive solutions that can be embedded into the network infrastructure," he adds.
Greater demand for security solutions by the SMB (small and medium business) sector and the importance of regulatory compliance is expected to grow steadily over the years.
The Asia Pacific Network Security Market 2006 study is part of the Network Security Growth Partnership Service. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants. Analyst interviews are available to the press.
If you are interested in a virtual brochure, which provides service providers, vendors/manufacturers, end users, and other industry participants with an overview of the Asia Pacific Network Security Market, then send an email to Sarah Lourdes, Corporate Communications, at sarah.lourdes[.]frost.com with your full name, company name, title, telephone number, fax number and email address. Upon receipt of the above information, an overview will be sent to you by email.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective, and combines ongoing analysis of markets, technologies, econometrics, and demographics.