Focus on investment in cyber security, cyber-attacks, digital economy and cybersecurity regulatory system are major factors contributing towards development of cyber security market in Indonesia.
Government Initiatives: The Indonesian government has taken several initiatives like implementing regulations to strengthen the country’s cybersecurity posture, such as the Electronic Information and Transactions Law, which outlines the responsibilities of individuals and organizations in protecting sensitive information online. The Indonesian government has also allocated funding for cybersecurity research and development, as well as for the implementation of cybersecurity measures in critical infrastructure and government agencies. Furthermore, the government has implemented several programs to develop the skills of Indonesian professionals in the field of cybersecurity, such as the development of cybersecurity certification programs and the creation of a cybersecurity talent pool.
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Increasing Internet Penetration: Indonesia has an estimated 140 million internet users, making it the fourth-largest internet market in the world, with millions of people coming online each year. This has created new opportunities for the growth of the cybersecurity market in Indonesia, as businesses and individuals seek to protect their digital assets and sensitive information from cyber threats. The increasing internet penetration has also created new market segments for cybersecurity solutions and services, such as cloud security and mobile security. Thus, the increasing internet penetration in Indonesia has driven growth in the country’s cybersecurity market.
Emergence of New Players: The emergence of new companies in the Indonesian cybersecurity market can be attributed to several factors, including the growing demand for cybersecurity solutions and services and the supportive environment provided by the Indonesian government. In recent years, many new cybersecurity companies have entered the Indonesian market, offering a range of solutions such as network security, cloud security, and mobile security. For example, some of the new companies include “Alibaba Cloud Intelligence Security”, “Cyber Management”, and “Katadata Cybersecurity”. These companies are providing innovative solutions and services to meet the growing demand for cybersecurity in Indonesia and are helping to drive the growth of the industry.
Analysts at Ken Research in their latest publication “Indonesia 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 Indonesia is at growing stage. The high internet penetration, adoption of advance technologies, favorable government initiatives, emergence of new players and influx of foreign investments is expected to contribute to the market growth over the forecast period. The Indonesia cybersecurity market is expected to grow at a ~% CAGR during 2022-2027F.
Key Segments Covered in the report:
Indonesia Cyber Security Market
By Component
- Hardware
- Software
- Services
By Security
- Network Security
- Endpoint Security
- Application Security
- Cloud Security
- Others
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By Deployment Type
- On-Premise
- Cloud
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: 2017-2021
- Base Year: 2022
- Forecast Period: 2023-2027F
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Companies Covered:
- Kaspersky Lab
- Symantec
- McAfee
- Microsoft
- Trend micro
- Telkomsel
- Telekomunikasi Indonesia
- XL Axiata
- Indosat
Key Topics Covered in the Report:
- Indonesia Cybersecurity Market Overview and Genesis
- Indonesia Cybersecurity Market Size, 2022
- Indonesia Cybersecurity Market Segmentations, 2022
- Demand Analysis of Indonesia Cybersecurity Market
- Porter’s Five Analysis, Growth Drivers and Trends in Indonesia Cybersecurity Market
- Challenges, government regulation and impact of covid on Indonesia Cybersecurity Market
- Future Outlook and Market Size for Indonesia Cybersecurity Market, 2022-2027F
- Market Segmentations for Indonesia Cybersecurity Market, 2022-2027F
- Competitive scenario for Indonesia Cybersecurity Market
- Analyst Recommendations and Industry Speaks
For more information on the research reports, refer to below link:-
Business Opportunities in Indonesia Cyber Security Market
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