Indonesia’s Cybersecurity Market Set for Remarkable Growth, Poised to Reach $917.9M by 2028

GURUGRAM, India, Feb. 5, 2024 /PRNewswire/ — According to Ken Research, Indonesia’s cybersecurity market is on a swift ascent, projected to reach approximately USD 917.9 million by 2028. This growth, at a CAGR of 9.3% from 2023 to 2028, marks a significant shift in the digital security sector, driven by escalating cyber threats and the rapid digitalization of industries. 

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Market Overview: Digital Transformation at the Core 

Ken Research highlights that Indonesia’s cybersecurity landscape is undergoing rapid evolution, fueled by digital transformation across various sectors. Factors such as the rise of SMEs, increased regulatory compliance, and strategic R&D investments are key drivers of this growth. 

Cybersecurity Services: Addressing Rising Demands 

The escalating cyber threats are pushing the demand for robust cybersecurity solutions. Services like SIEM, particularly in the banking and financial sectors, are essential for maintaining data confidentiality. These services, including cloud security and endpoint protection, are crucial in safeguarding Indonesia’s digital infrastructure.

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The Ecosystem: Global and Local Expertise Fusion 

The Indonesian market, as reported by Ken Research, benefits from a synergy of global and local cybersecurity expertise. This collaboration is vital in addressing the unique digital security challenges faced by Indonesia. 

End-User Segmentation: A Sector-Wide Impact 

Predominantly, the BFSI sector, along with fintech and e-commerce, are leading the demand for advanced cybersecurity solutions. This reflects the critical need for data protection in these digitally-driven sectors. 

Regional Developments: A Geographical Perspective 

Regions like Borneo Island and Jakarta are experiencing significant cybersecurity investments, as indicated by Ken Research. These investments underscore the need for enhanced digital security measures in Indonesia’s key economic zones. 

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Future Outlook: Innovations and Emerging Challenges 

The future of Indonesia’s cybersecurity market, as per Ken Research, is poised for growth driven by SMEs, increased R&D, and the adoption of AI, ML, and IoT technologies. These developments are expected to shape a dynamic and challenging cybersecurity landscape. 

Ken Research: Your Authority on Cybersecurity Insights 

For an authoritative analysis of the Indonesian cybersecurity market, Ken Research’s comprehensive reports are indispensable. Visit Ken Research’s Cybersecurity Market Analysis for in-depth market trends, competitive landscapes, and future forecasts. Engage with our experts to navigate the complexities of cybersecurity in Indonesia and make informed strategic decisions. 

Taxonomy 

By Type of Cybersecurity Services 

IEM 

Cloud Consulting 

Endpoint Security 

Penetration Testing 

Firewall 

ITSRA 

Infrastructure Security 

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By End-Users 

BFSI 

FinTech 

E-Commerce 

Public 

Healthcare 

Manufacturing 

Others 

By Region 

Kalimantan Timur 

Jakarta 

By Origin of Company 

Local Players 

International Players 

By Cloud Deployment 

On-Premise 

Cloud 

By Sector Size 

Public 

Private

For More Insights On Market Intelligence, Refer To The Link Below: –

Indonesia Cybersecurity Market

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KSA Cybersecurity Market Outlook to 2026E Gauging the opportunities for foreign investment in the cybersecurity market

In 2020, Saudi Arabia recorded 22.5 million cyberattacks. Companies, especially MSMEs, were the major targets. Therefore, enterprises are boosting investment to enhance their cybersecurity measures. The cybersecurity market in Saudi Arabia is estimated to expand at a high CAGR between 2021 and 2026E attributed to increasing demand of big data, surging internet penetration rate and roll out of 5G services across the nation. The strict regulations by the government such as ECC and Cybersecurity Framework by SAMA will also act as a catalyst for the surging growth of the cybersecurity market in Saudi Arabia.

Vietnam Cybersecurity Market Outlook to 2025By Solution Source (Foreign/Imported Solutions and Domestic Solutions), By End User (Banking and Finance, Government/Public Sector, Aerospace & Defense, IT & Telecom, Retail & E-Commerce, Healthcare and others), By Solution type (Standalone Products, Managed Security Services and Professional Services), By Standalone Product Type (Firewall, Antivirus, End Point Security, IPS/IPD, SIEM, Security Gateways and Others), By Managed Security Services Type (SOC, Network Security, Application Security, Email Security, Cloud Security, Mobile Security, Content Security and Others), By Professional Services Type (Penetration Testing, Security Audit, Cybersecurity Consulting, Security Training and Others)

The cybersecurity market is expected to grow at a CAGR of 16.9% over the period 2019 to 2025. Increasing adoption of cybersecurity solutions by SMEs and other enterprise segments is expected to drive market growth. New kinds of cyber threats such as Advanced Persistent Threats and IoT device attacks will encourage cybersecurity organizations in the country to enhance product capabilities and develop technologically advanced and efficient products.

US Security Testing Market Outlook to 2028 Segmented by Type of Security (Network and Application Security), Type of End-User Industry (Government, Financial and Healthcare) and region

The US Security Testing Market is growing every year with a successive change into their database and workflow, with an expected CAGR of ~18%, within the time period 2022 to 2028. Major changes in technologies have been seen throughout the security testing market, with more complex and stringent regulatory compliances leading to a much more secure mainframe, handling multiple scans on the software.

US Identity Verification Market Outlook to 2028 2028 Segmented by Deployment type (On- Premise, On- Demand), End-User Industry (Financial services, Retails) and by Region

US Identity Verification market is expected to show increasing and is expected to grow at a CAGR of ~13% from 2022 to 2028 with Government initiatives for stricter and high-end algorithm development are expected to enhance the connectivity within the US. The rise in demand for identity verification solutions was projected to continuously grow as global digitalization and online transactions became more prevalent across all sorts of industries. The need to establish secure and trustworthy digital identities is anticipated to remain a top priority for all major business and companies.

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Ken Research Private Limited

Ankur Gupta, Director Strategy and Growth

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