Date: 08/12/2023

Asia/Pacific Security Software Market for SMBs and Midmarket in 2022 Valued at US$2.6 Billion

Asia/Pacific security software market in small and medium-sized businesses (SMBs) and midmarket segments grew by 21% in 2022.

According to a recent IDC report, Asia/Pacific (Excluding Japan and China) Security Software Market Shares for SMBs and Midmarket Segments, 2022: IDC's Top 10 Players, the Asia/Pacific excluding Japan and China (APeJC) security software market for SMB and midmarket segments grew by 21% in 2022 compared with that in 2021, with a revenue of US$2.6 Billion.





As Asia/Pacific SMBs and midmarket organizations increasingly rely on developing technologies and online platforms, they are becoming more vulnerable to cybercrimes like ransomware attacks and phishing scams. These segments are typically easier targets because of a shortage of resources and expertise in maintaining, managing, and adopting a robust security posture of their IT environment. Security solutions are therefore becoming top priority for such businesses to safeguard critical data and maintain customer trust.

In fact, according to IDC's 2023 Future SMB and Midmarket Survey, 22% of Asia/Pacific (excluding Japan and China) (APEJC) SMBs and midmarket companies will have security software as their top priority investment area for the next 12 months.

"Security is fundamental to the success of SMBs and midmarket firms. Security software providers must continuously innovate and adapt their solutions to address the evolving cybersecurity landscape in Asia/Pacific. They must, above all, focus on educating companies about best practices for cybersecurity, empowering them to proactively protect their sensitive data and mitigate potential cyber threats," says Supriya Deka, Senior Market Analyst, IDC Asia/Pacific SMB, Midmarket, and Digital-Native Business Program.

Source: IDC

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