Security Market Segment LS
Wednesday, 08 September 2021 10:16

Asia-Pac security spending seen growing 14% in 2021

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Asia-Pac security spending seen growing 14% in 2021 Image by Werner Moser from Pixabay

Spending on security solutions and services in the Asia-Pacific region excluding Japan is forecast to grow 14% year-on-year in 2021, the technology analyst company IDC says.

The company said spending was expected to grow at a compound annual growth rate of 14.1% for the five years from 2020 to 2025 and touch US$39 billion (A$52.8 billion) by 2025.

It cited accelerated digitalisation, cloud migration, security transformation and increased attacks as the driving factors behind the increasing investment.

IDC said 45% of the spend in 2o21 would be on services, with security hardware being the second biggest item of expenditure.

“The Covid-19 pandemic will further increase the multitude of security challenges. Organisations are rethinking the resiliency strategy, including cloud adoption, digitalisation of business models, and workforce,” said Sharad Kotagi, market analyst at IDC IT Spending Guides, Customer Insights & Analysis.

“Thus, investments in digital trust programs (security, privacy, and compliance technologies) will be one of the top priorities of organisations in the region.”


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Sam Varghese

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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