Focus on investment in cyber security, cyber-attacks, digital economy and cybersecurity regulatory system are major factor contributing towards development of cyber security market in China.
Expansion of Internet Coverage and Speed: With the help of the Internet China Project, 95% of urban residents would have access to managed high-speed broadband networks. The State Council of China also intends to spend an additional $22 Bn on upgrading broadband network infrastructure in the nation’s rural districts. An estimated 30 million households and 50,000 communities would receive better internet access because to this investment, which is its main goal.
Introduction of Blockchain Cybersecurity: The basics of peer-to-peer security are used by blockchain technology, which is based on the identification of the two participants to a transaction. As a result, the market has many potentials for growth. A security system employed by a firm can use distributed public key infrastructure with the aid of blockchain technology to authenticate users and devices. A strong authenticated verification mechanism has been put up using blockchain technology and AI to fend off any cyber assaults.
Increased phishing and Malware Threats Among Businesses: The ability of cybercrimes to infiltrate, take control of, and harm entire electronic information networks has substantially risen thanks to malware such as viruses and trojan horses. Malware is a tool used by cybercriminals to seize control of hardware or software in order to steal money from consumers, delete confidential data, or carry out other nefarious or dishonest operations. These elements together fuel the expansion of cyber security.
High cost for SMEs and lack of cybersecurity experts: Attackers access data belonging to a business, organization, or government using cutting-edge techniques. Because many businesses have made insufficient investments in security infrastructures due to a lack of professional knowledge of complex cyber threats, they have suffered significant losses and the expansion of the cybersecurity industry. Additionally, the high cost of establishing and maintaining internet security solutions and services prevents small and medium-sized businesses from utilizing them, which in turn limits the expansion of the cyber security insurance sector.
Analysts at Ken Research in their latest publication “China Cyber Security Market Outlook to 2027F- Segmented by Component (Hardware, Software and Services), By Security (Network, Endpoint, Application and Cloud Security), By Deployment Type (On-Premise and Cloud), By Organization Size (Medium, Small and Large Enterprise) and by Industry (BFSI, Government Sector, IT, Telecom, E-Commerce, Healthcare and Retail)” observed that Cyber Security Market in China is at growing stage. The high number of smartphone users, cybersecurity tools, China’s regulations with government initiatives is expected to contribute to the market growth over the forecast period. The market is expected to grow at an ~% CAGR during 2022-2027F.
Key Segments Covered in the report
China Cyber Security Market
By Component
Hardware
Software
Services
By Security
Network Security
Endpoint Security
Application Security
Cloud Security
Others
By Deployment Type
On-Premise
Cloud
By Region
Northern
Western
Eastern
Central
Southern
By Organization Size
Medium and Small Enterprises
Large Enterprises
By Industry
BFSI
Government Sector
IT
Telecom
E-Commerce
Healthcare
Retail
Others
Key Target Audience:
Technology Companies
Cybersecurity Companies
Banking and Financial Institutions
Cybersecurity Service Providers
Government Agencies
Cybersecurity Consultants
Time Period Captured in the Report:
Historical Period: 2017-2022
Base Year: 2022
Forecast Period: 2022-2027F
Companies Covered:
Cagemini SE
CISCO Corp.
CSC Corp.
DELL (SecureWorks Inc.)
IBM Corp.
Intel Corp.
Lockheed Martin Corp.
Palo Alto Networks
Symantec Corp.
Threat Book
QI-ANXIN Technology Group Inc.
Beijing Chaitin Future Technology Co., Ltd
Key Topics Covered in the Report:
China Cybersecurity Market Overview and Genesis
China Cybersecurity Market Size, 2022
China Cybersecurity Market Segmentations, 2022
Demand Analysis of China Cybersecurity Market
Porter’s Five Analysis, Growth Drivers and Trends in China Cybersecurity Market
Challenges, government regulation and impact of covid on China Cybersecurity Market
Future Outlook and Market Size for China Cybersecurity Market, 2022-2027F
Market Segmentations for China Cybersecurity Market, 2022-2027F
Competitive scenario for China Cybersecurity Market
Analyst Recommendations and Industry Speaks
For more insights on the market intelligence, refer to below link:-
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