Report : Asia Pacific Network Security Firewall Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Component (Solution and Services) and Deployment (On-Premise and Cloud)
Services Segment to Dominate APAC Network Security Firewall Market during 2019–2027
According to The Insight Partners market research study on “APAC Network Security Firewall Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Component and Deployment,” is expected to reach US$ 2382.4 Mn by 2027 from US$ 650.0 Mn in 2018. The market is estimated to grow at a CAGR of 15.6% from 2019 to 2027. The report provides trends prevailing in the APAC network security firewall market along with the drivers and restraints pertaining to the market growth. Adoptions of IOT and as well as rise in adoption of cloud and BYOD are the major factor driving the growth of the APAC network security firewall market. However, shortage of skilled labor workforces hinders the growth of APAC network security firewall market.
The market for network security firewall market is segmented into component, deployment and country. Based on component, the market is segmented into solution and services. In 2018, the solution segment held the largest share in APAC network security firewall market. Services are expected to grow fast in the forecasted period. Solution is further segmented into SMS firewall and Signaling. SMS firewall is further segmented into A2PSMS and P2PSMS.Signaling is also segmented into SS7 and diameter. In 2018, SMS firewall held the largest share in APAC network security firewall market. Based on deployment, the market is segmented into cloud and on premise. In 2018, cloud segment held the largest share in the APAC network security firewall market. In case of Covid-19, APAC region is highly impacted by the outbreak of coronavirus, owing to a massive number of cases in China, the country is the most crucial manufacturer and industrial producer since it trades highest number of manufacturing goods than any other country in the globe.
Adaptive Mobile Security, AMD Telecom S.A., ANAM Technologies, Cellusys, Cisco Systems, Mobileum Inc., Omobio (Pvt) Ltd, Openmind Networks, SAP SE, Symsoft AB (Sinch ) are among the leading companies in the APAC network security firewall 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 2017, Adaptive Mobile Security announced the introduction of signaling intelligence layer, which is first global signaling intelligence and analytics cloud service. The government of various economies in the region have begun to take initiatives to mitigate the cyber-security risks. For instance, in 2015, Thailand drew up draft data protection bill to ensure data privacy. Also, Malaysian government introduced Personal Data Protection Regulations in 2013. Moreover, in 2014, Personal Data Protection Act was introduced in Singapore. Also, a new standalone cyber-security Act was passes recently by the Singapore government. Furthermore, the Vietnam government introduced Law on Cyber Information Security in 2016.
APAC Network Security Firewall Market, By Country, 2018 and 2027 (%)
The report segments the APAC Network Security Firewall Market as follows:
Network Security Firewall Market – By Component
Network Security Firewall Market – By Deployment
Network Security Firewall Market – By Country