The report recognizes the following companies as the key players in the Cyber Security Market in the APAC Region: BAE Systems plc, Cisco Systems Inc., Lockheed Martin Corp., Northrop Grumman Corp., Raytheon Co. and Symantec Corp.
Other Prominent Vendors in the market are: Boeing, CSC, EMC, Fortinet, Hewlett-Packard, IBM, Kaspersky Lab, L-3 Communications, McAfee and TrendMicro
The report said: “Demand for cloud-based security solutions is one key trend emerging in this market. End-users prefer cloud-based security solutions because they are cost-effective and can be easily managed. Therefore, both large enterprises and SMEs in the APAC region are increasingly adopting cloud-based cyber security solutions.”
According to the report, one of the major drivers of the market is increased use of mobile devices such as tablets and laptops, which has made it difficult to identify cyber threats. With the rising need to integrate networks with mobile devices of employees, demand for security solutions to prevent misuse of confidential data through fraudulent activities has also been on the rise.
Further, the report states that high cost of deployment of cyber security solutions is one of the major challenges for the market. Implementing a traditional cyber security solution takes time. This makes the implementation process very critical because once deployed, making changes to it becomes an expensive affair. Also, it requires additional high-cost IT infrastructure, complex programming, and extra time to ensure quality and integration with other solutions.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Source: ASDReports - Market Research
Date: Apr 28, 2015