Report : Asia Pacific Data Diode Security Products Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type (Non-Ruggedized Data Diode and Ruggedized Data Diode), and Application (Government, Oil & Gas, BFSI, and Others)
Government Segment to Dominate APAC Data Diode Security Products Market during 2019–2027
According to The Insight Partners market research study on “APAC Data Diode Security Products Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 136.73 million by 2027 from US$ 110.45 million in 2019. The market is estimated to grow at a CAGR of 4.3% from 2020 to 2027. The report provides trends prevailing in the APAC data diode security products market along with the drivers and restraints pertaining to the market growth. High acceptance of industrial control system is the major factor driving the growth of the APAC data diode security products market. However, issues associated with TCP/IP related curbs hinders the growth of APAC data diode security products market.
The APAC market for data diode security products is segmented into type, application, and country. Based on type, the APAC market is segmented into non-ruggedized data diode and ruggedized data diode. In 2019, the non-ruggedized data diode segment held the largest share of APAC data diode security products market. Based on application, the APAC data diode security products market is divided into government, oil and gas, BFSI, and others. BFSI segment is expected to be the fastest growing segment over the forecast period.
The COVID-19 pandemic is adversely affecting APAC. The region is characterized by the presence of a large number of developing countries, positive economic outlook, high industrial presence, huge population, strong investments in industrial infrastructure, and rising disposable income. Therefore, APAC holds huge potential for various markets such as data diode security products market. The large number of electronic components and a few sectors such as IT, government, and oil & gas in this region offer lucrative opportunities for the growth of APAC data diode security products market. In addition, China, Japan, South Korea, and India are manufacturing hubs. The COVID-19 pandemic is disrupting the growth of various industries in the region. For instance, China is the largest raw material supplier for various industries worldwide; it is one of the worst affected countries by the COVID-19 crisis. The lockdown of various plants and factories in China is hampering the supply chains in APAC, thereby hindering manufacturing processes, delivery schedules, and sales of various products and services in the region. China has recently emerged from a 2-month containment phase and moved into the mitigation stage; however, there is still decline in the growth of its economy due to uncertainty of the COVID-19 outbreak. The governments of various countries in APAC are taking drastic measures to reduce the effects of the outbreak by imposing lockdowns, and travel and trade bans. All these measures are restricting the adoption and growth of data diode security products, especially in electronics and semiconductor sector, and the effect of pandemic is likely to continue in 2021.
BAE Systems, Belden Inc., Fibersystem AB, Forcepoint, Fox-IT Holding B.V., Rohde & Schwarz GmbH & Co. are among the leading companies in the APAC data diode security products market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Forcepoint declared the launch of Forcepoint Data Diode, which is hardware solution that offers uni-directional data flow to allow rapid, automated data transfer while ensuring compliance with regulatory guidelines. Configurable for simplified operations and maintenance.
The report segments the APAC Data Diode Security Products Market follows:
APAC Data Diode Security Products Market – By Country