Data Sharing: The Need for Security
Driven by the rapid adoption of digital technology, the data-sharing economy is growing sharply, and unsurprisingly Asia is leading the charge. Thus, data security undertakes greater significance in Asia’s digital changing landscape.
The 5G security market is gaining traction recently due to rising security concerns in the 5G networks. According to Reportlinker, the global 5G security market size is projected to grow from USD 580 million in 2020 to USD 5,226 million by 2026. It is noticeable that the Asia Pacific region records the highest growth and also accounts for the largest market share in the 5G security market.
In terms of the 5G security market, the DDoS protection solution segment is expected to grow with the fastest growth rate from 2021 to 2026. SecurityMagazine showed China’s DDoS attacks increased rapidly during the pandemic, at the rate of 542%. China, Vietnam and Taiwan accounted for a third of all DDoS botnet clients. Thus, many tech companies, such as Alibaba Cloud and Huawei, have already started to use DDoS protection and mitigation solutions against DDoS attacks that affect the confidentiality, integrity, and availability of sharing data.
In addition, the widespread use of cloud solutions drives the need for cloud security measures for protection against cyber-attacks. China has invested significantly in the development of new technologies in the cloud security market over the past few years. Several start-ups, such as Qingteng and Guangdong Tianxia, have surged up and offer cloud security solutions. CISION found that the cloud security market in China is estimated at USD 2.9 billion by 2022, at a CAGR of 45.2% over the next 3 years. Another noteworthy geographic market is Japan, forecast to grow at 11.7%.
China is also going native with the cloud. Many developers recently have transitioned from a focus on the concept of cloud-native to a focus on cloud-native implementation practices. Ark.sec, for example, combines features in virus detection, vulnerability analysis and host security to protect enterprise cloud-native computing systems, enabling users to improve the security of their cloud database.
It is clear that the rise in malware and the increase in adoption of 5G trends among organizations are the key drivers for the data-sharing security market. Furthermore, growth in demand for cloud-based cybersecurity solutions has also been one of the major factors fueling the cybersecurity market boom. Many market researchers believe that the constant need to conform to the industry standards, regulations, and complexities of device security are some of the major factors that further boost the data-sharing security market.
data sharing business in Asia
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