MarkNtel Advisors recently published a detailed industry analysis of the Malaysia Cybersecurity Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Malaysia Cybersecurity Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The Malaysia Cybersecurity Market was valued at around USD 1.05 billion in 2023 and is projected to reach around USD 2.17 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 11.4% during the forecast period, i.e., 2024-30.
Key Findings in Malaysia Cybersecurity Market:
- Historical Analysis: 2019–2022
- Base Year: 2023
- Forecast Period: 2024–2030
Leading Market Players- IBM, CISCO, Microsoft, Palo Alto Networks, Wizlynx group, AKATI Sekurity, AVG, Amazon Web Services, Inc., Qinetics MSP Sdn Bhd, Oracle, 3i Infotech Sdn Bhd, and others
Key Highlights of the Report
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
What are the major Driver the Malaysia Cybersecurity industry?
Expansion of E-Commerce Industry Driving Market Growth – The Malaysian population has consistently been gaining internet access across the country. According to the World Bank, internet penetration has reached around 97% in 2022, up from about 84% in 2019. Thus, with the growing adoption of the internet, smartphones, tablets, computers, etc., the residents of the country are steadily integrating e-commerce services into their routine lives due to convenience, and the variety of options available. Additionally, the Malaysian government has been supportive of the development of digitalization in the country and is implementing various initiatives to boost the e-commerce sector. Such as programs to enhance the digital infrastructure and policies to smooth the online transaction process. For instance,
- In 2023, the Malaysian government and Google announced their partnership to strengthen home-grown companies by advancing their digital competitiveness.
According to the Department of Statistics Malaysia, the contribution of e-commerce to GDP increased 18.9% from USD 48.3 billion in 2021 to USD 57.5 billion in 2022. Hence, the escalating online shopping is resulting in more online transactions, making e-commerce companies and consumers prone to phishing, ransomware, data breaches, etc. Therefore, this increase in e-commerce platform operations has been a key factor requiring solutions for cyber threats in the country, further supporting the Malaysia Cybersecurity Market size & volume.
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What segments define the Malaysia Cybersecurity Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
By Security Type
- Network Security- Market Size & Forecast 2019-2030, (USD Million)
- Cloud Security- Market Size & Forecast 2019-2030, (USD Million)
- Endpoint & IoT Security- Market Size & Forecast 2019-2030, (USD Million)
- Application Security- Market Size & Forecast 2019-2030, (USD Million)
- Data Security- Market Size & Forecast 2019-2030, (USD Million)
- Others (Identification & Access Management, etc.)- Market Size & Forecast 2019-2030, (USD Million)
According to report, The network security segment will hold a dominant market share in the coming years.
By Solution
- Identity & Access Management (IAM)- Market Size & Forecast 2019-2030, (USD Million)
- Antivirus/Antimalware- Market Size & Forecast 2019-2030, (USD Million)
- Log Management & SIEM- Market Size & Forecast 2019-2030, (USD Million)
- Firewall- Market Size & Forecast 2019-2030, (USD Million)
- Encryption & Tokenization- Market Size & Forecast 2019-2030, (USD Million)
- Compliance & Policy Management- Market Size & Forecast 2019-2030, (USD Million)
- Patch Management- Market Size & Forecast 2019-2030, (USD Million)
- Others- Market Size & Forecast 2019-2030, (USD Million)
By Deployment mode
- On-premises- Market Size & Forecast 2019-2030, (USD Million)
- Cloud- Market Size & Forecast 2019-2030, (USD Million)
- Hybrid Cloud- Market Size & Forecast 2019-2030, (USD Million)
By Organization size
- Large Enterprises- Market Size & Forecast 2019-2030, (USD Million)
- SMEs (Small & Medium Enterprises)- Market Size & Forecast 2019-2030, (USD Million)
According to report, Amongst them, the large enterprises segment held the majority share in the Malaysia Cybersecurity Market.
By End User
- Banking, Financial Services and Insurance (BFSI)- Market Size & Forecast 2019-2030, (USD Million)
- Government & Defense- Market Size & Forecast 2019-2030, (USD Million)
- Corporate- Market Size & Forecast 2019-2030, (USD Million)
- Healthcare & Life Sciences- Market Size & Forecast 2019-2030, (USD Million)
- Manufacturing- Market Size & Forecast 2019-2030, (USD Million)
- IT & Telecommunication- Market Size & Forecast 2019-2030, (USD Million)
- Others (Education, Media & Entertainment, etc.)- Market Size & Forecast 2019-2030, (USD Million)
Explore the Complete Malaysia Cybersecurity Market Analysis Report – https://www.marknteladvisors.com/research-library/malaysia-cybersecurity-market.html
Geographical Analysis: Malaysia Cybersecurity Market
By Region
- North
- South
- East
- Central
- Sarawak
- Sabah
Malaysia Cybersecurity Market Industry Recent Development:
- In 2023: Cisco launched networking and security products for small and medium businesses (SMBs) in Malaysia.
- In 2023: Amazon Web Services (AWS), stated its plans to invest approximately USD 6 billion by 2037 to expand its base in the country.
Key Questions Addressed in This Study
- What are the primary factors driving the growth of the Malaysia Cybersecurity Market?
- How is the Malaysia Cybersecurity Market expected to evolve over the next five years?
- What key insights can be drawn from current trends shaping the market?
- What is the current market size, and how is it forecasted to change in the coming years?
- What is the future outlook for the market in terms of technological innovation and geographic expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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