PUBLISHER: The Insight Partners | PRODUCT CODE: 1533123
PUBLISHER: The Insight Partners | PRODUCT CODE: 1533123
The Asia Pacific unified threat management market was valued at US$ 1,304.73 million in 2022 and is expected to reach US$ 3,293.79 million by 2030; it is estimated to register at a CAGR of 12.3% from 2022 to 2030.
Digitalization in Healthcare Fuels Asia Pacific Unified Threat Management Market
Healthcare institutions are undergoing a significant digital transformation involving a mounting reliance on technology to deliver patient care and critical services. The rising digitalization in the healthcare industry offers access to medical information and services from anytime, anywhere, and ensures timely and efficient patient care. Digitalization has resulted in the introduction of several tools and methods for enhancing healthcare services. These tools help to keeps the record of patients' information and health-related data accessible to doctors as well as patients. However, due to growing digitalization in healthcare systems, the industry has become prone to various kinds of cyberattacks and threats. For instance, according to Check Point Software Technologies Ltd's Check Point Research (CPR), healthcare institutions experienced 1,426 weekly attacks in 2022, an increase of over 60% compared to 2021. Thus, the rising threats of cyberattacks and digitalization in the healthcare industry can generate the demand for enhanced security solutions. A unified threat management solution can protect healthcare institutions from attacks such as distributed denial of service (DDoS), ransomware, phishing, and malware. Thus, digitalization in the healthcare system creates lucrative opportunities for the Asia Pacific unified threat management market growth.
Asia Pacific Unified Threat Management Market Overview
The Asia Pacific unified threat management market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. According to the report of IBM in 2022, the impacts of cyberattacks were felt throughout nearly all industries of the global economy. The leading industries that were attacked include manufacturing (25%), finance & insurance (19%), and professional, business, and consumer (PBC) services (15%). APAC was the most targeted region, finding itself subject to 31% of attacks. The increasing number of cyberattacks in APAC is fueling the demand for unified threat management solutions. Also, according to the report of Positive Technologies, cyber espionage is a major threat to organizations and states in Asia. As many as 49% of successful attacks on organizations resulted in compromise of sensitive information. Governments and organizations invest heavily in research and technology, and stealing this kind of information can give competitors a technological advantage. This explains the increased activity by cyberespionage gangs. Additionally, according to NetScout Systems, Inc.'s DDoS threat intelligence report, the total number of DDoS attacks in Asia Pacific was 1.5 million, in 2023, which is 16% higher as compared to 2022. The maximum bandwidth of the attacks is 632 Gbps, and the maximum throughput is 316 Mpps. The increase in cyberattacks is propelling the adoption of unified threat management technologies in Asia Pacific.
Asia Pacific Unified Threat Management Market Segmentation
The Asia Pacific unified threat management market is segmented based on component, deployment, enterprise size, end users, and country.
Based on component, the Asia Pacific unified threat management market is bifurcated into solution and services. The solution segment held a larger share in 2022.
In terms of deployment, the Asia Pacific unified threat management market is bifurcated into cloud and on-premise. The cloud segment held a larger share in 2022.
By enterprise size, the Asia Pacific unified threat management market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger share in 2022.
In terms of end users, the Asia Pacific unified threat management market is segmented into BFSI, manufacturing, healthcare, retail, government, IT & Telecom, and others. The IT & Telecom segment held the largest share in 2022.
Based on country, the Asia Pacific unified threat management market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific unified threat management market in 2022.
Fortinet Inc, Sophos Ltd., Juniper Networks Inc, Cisco Systems Inc, Huawei Technologies Co Ltd, Barracuda Networks, Inc., WatchGuard Technologies Inc, and Check Point Software Technologies Ltd are some of the leading companies operating in the Asia Pacific unified threat management market.