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Growth Slows to 6.5 Percent this Year but Asia-Pacific Network Security Market Remains Resilient Says Frost & Sullivan - The Asia-Pacific network security market is expected to grow by 6.5 percent in 2009, dropping nearly two-thirds from the robust growth in 2008
Growth Slows to 6.5 Percent this Year but Asia-Pacific Network Security Market Remains Resilient Says Frost & Sullivan

 

NewswireToday - /newswire/ - Singapore, Singapore, 2009/06/12 - The Asia-Pacific network security market is expected to grow by 6.5 percent in 2009, dropping nearly two-thirds from the robust growth in 2008.

   
 
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Last year was perhaps too soon for the Asia-Pac region to feel the full brunt of the financial meltdown, the final quarter however - typically the strongest quarter - was a tell-tale of what to expect in 2009, growing a dismal 1.5 percent over the third quarter of 2008.

According to Frost & Sullivan industry manager Arun Chandrasekaran, however, despite the weak sentiments and businesses exercising caution in spending, the commitment to network security investments remains strong. "Most companies recognise that the risks of not implementing adequate IT security far outweigh the cost of investing in it," he says.

"Amidst pressure to control CAPEX (capital expenditure) and stretch every dollar, companies are more likely to deploy the more affordable converged security solutions," Chandrasekaran adds. "Adoption of managed security services is also expected to rise as companies try to minimise outright purchases."

New analysis from Frost & Sullivan (networksecurity.frost.com), Asia-Pacific Network Security Market, finds that the market - covering 14 Asia-Pacific countries - was worth an estimated US$1.81 billion in 2008, growing 17.9 percent from the year before. A modest CAGR (compound annual growth rate) of 7.5 percent is expected from 2009 to 2015, to gross revenues of just over US$3 billion by end-2015.

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 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.

The growth in 2008 continued to come from the epicentres of emerging markets like China, India, as well as ASEAN countries like Vietnam and Indonesia, all registering year-on-year growth rates of above 20 percent.

Firewall and IPSec VPN (Internet protocol security virtual private network) solutions continued to be the dominant choice, accounting for the bulk of revenues last year at 74.6 percent (US$1.34 billion). This trend is likely to continue through to 2015.

The SMB (small and medium businesses) segment contributed slightly more than one-third to the total revenues in 2008. Chandrasekaran expects this percentage to rise over the next few years, "More and more SMBs are beginning to install at least first-layer perimeter defence on their corporate networks as converged or integrated security appliances have made network security affordable for smaller businesses." By 2015, SMBs will account for approximately 45 percent of the revenues.

Despite being one of the hardest hit, the BFSI (banking, financial services and insurance) sector remains the leading adopter of network security solutions at 20.8 percent (US$377 million) of revenues in 2008, followed closely by service providers and the government sector at 18.4 percent (US$333 million) each.

Chandrasekaran believes that the banking sector will continue to be the biggest spender on network security moving forward, mainly due to rising regulatory compliance. Moreover, he says, "Following the loss of public confidence in the banking system after the financial debacle of September 2008, the last thing any CIO would want is a security breach to further dent the confidence of existing and potential customers."

The Asia-Pacific Network Security Market study is part of the Network Security Growth Partnership Service program, which also includes research in the following markets: network access control, managed security services, data security, application security and content security. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Analyst interviews are available to the press.

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 35 offices on six continents.

 
 
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Growth Slows to 6.5 Percent this Year but Asia-Pacific Network Security Market Remains Resilient Says Frost & Sullivan

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