China Cyber Security Market is at growing stage and has moderately fragmented market with more than 15 players in the market that adopt strategic initiatives such as partnerships, investments, and new product offerings due to increasing awareness regarding mobility security among enterprises. Palo Alto Networks, Threat Book and IBM Corporation are few of the top players in market.
- The Ministry of Industry and Information Technology (MIIT) mandated that significant industries like telecommunications allocate 10% of their IT upgrade budget to cybersecurity by 2023.
- Beijing is encouraging the development of increasing demand for goods and technologies such as data security monitoring and artificial intelligence-powered (AI) threat detection.
- The government anticipates the industry to be valued at more than $ 38.6 Bn by 2023 by encouraging the development of an increasing demand for goods and technologies, including data security monitoring and AI threat detection.
Rising Popularity of Cybersecurity Solutions: The cloud segment is expected to hold the highest CAGR during the forecast period. The growth is owing to the increasing demand for applications to store and secure data with enhanced security techniques. Also, players in the market are developing advanced cloud-based security solutions by partnering and collaborating with other key players. Furthermore, the on-premise segment is expected to grow considerably due to the rising demand for managed security services.
China’s Regulation of Cybersecurity: Cybersecurity is becoming more closely associated in China with national security, state sovereignty, and other factors. In an effort to catch up to its counterparts abroad, particularly those in the US and the EU, as well as to improve the country’s overall security and defense capabilities, the Chinese government is implementing a variety of regulatory measures that place a strong emphasis on network security. Beijing’s three-year cyber defense strategy will fortify its digital assets in addition to having a three-year cybersecurity plan as part of its drive for a resilient digital economy.
Increase in Adoption of Internet and AI: As e-commerce platforms have grown in popularity and new technologies like blockchain, cloud computing, and artificial intelligence have been developed, internet security solutions have become more sophisticated for connected network design. The market for cyber security will be driven by the integration of network security solutions into it and electronic security systems. As these technologies are used more frequently, network security solutions will become less necessary.
Analysts at Ken Research in their latest publication “China 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 China is at growing stage. The high number of smartphone users, cybersecurity tools, China’s regulations with government initiatives is expected to contribute to the market growth over the forecast period. The market is expected to grow at an ~% CAGR during 2022-2027F.
Key Segments Covered in the report
China 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 Region
Northern
Western
Eastern
Central
Southern
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
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Time Period Captured in the Report:
Historical Period: 2017-2022
Base Year: 2022
Forecast Period: 2022-2027F
Companies Covered:
Cagemini SE
CISCO Corp.
CSC Corp.
DELL (SecureWorks Inc.)
IBM Corp.
Intel Corp.
Lockheed Martin Corp.
Palo Alto Networks
Symantec Corp.
Threat Book
QI-ANXIN Technology Group Inc.
Beijing Chaitin Future Technology Co., Ltd
Key Topics Covered in the Report:
China Cybersecurity Market Overview and Genesis
China Cybersecurity Market Size, 2022
China Cybersecurity Market Segmentations, 2022
Demand Analysis of China Cybersecurity Market
Porter’s Five Analysis, Growth Drivers and Trends in China Cybersecurity Market
Challenges, government regulation and impact of covid on China Cybersecurity Market
Future Outlook and Market Size for China Cybersecurity Market, 2022-2027F
Market Segmentations for China Cybersecurity Market, 2022-2027F
Competitive scenario for China Cybersecurity Market
Analyst Recommendations and Industry Speaks
For more insights on the market intelligence, refer to below link:-
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