The secure content management (SCM) market in APAC is forecast to reach a $2.2 billion valuation in total web and email security revenues by 2024, at a CAGR of 11.4%, according to new research from Frost - Sullivan.
The proliferation of cloud-based deployments will largely drive this, the report says, as the COVID-19 pandemic motivates more enterprises to move their workloads to the cloud and rely more on the internet.
It is also driven by the increase in instances of malicious emails and web links, which remain the most popular attack vectors in the APAC region. Meanwhile, new threats, such as more advanced phishing tactics, business email compromises and other malicious content are also poised to affect the market's future standing significantly.
“The addition of multiple functionalities into core capabilities is transforming web and email security options as organisations seek better compatibility with their cloud migration journeys and cost-savings simultaneously,” says Frost - Sullivan ICT industry analyst Vivien Pua.
Various integrations, including data loss prevention (DLP), cloud access security broker (CASB), and email/browser isolation, are blurring distinctions among cybersecurity solutions.
“The larger but less mature web security market is also benefiting significantly from cloud-based deployment security solutions given their scalability, flexibility, and lower cost.
Pua says larger enterprises will require heavier investment, as they often need dedicated web and email security to detect, prevent, and remediate threats effectively.
“These companies with larger financial resources generally prioritise performance and will opt for standalone solutions or best-of-breed options,” Pua continues.
“Conversely, small and medium businesses (SMBs) are more open to integrated solutions or Software-as-a-Service (SaaS) offerings, which offer them the necessary protection level, despite their limited security budgets.
For further revenue opportunities, Frost - Sullivan recommends cybersecurity vendors explore these strategic recommendations:
- Assist enterprise customers migrating to cloud email by integrating and transferring their email security to cloud-based deployments.
- Offer cloud-delivered integrated cybersecurity solutions to meet the business needs of remote workforces.
- Prepare on-premises deployments or hybrid deployment solutions for enterprises relying on traditional operating procedures or face regulatory compliance issues regarding on-the-cloud deployments.
- Explore new product development and acquisitions to match the security demands of the current and future threat climate.
The report from Frost - Sullivan comes off the back of another one released by the analyst firm also focused on APAC, which found that the contact centre application market in the region is expected to grow from US$719.5 million to $966.5 million by 2026, at a CAGR of 4.3%.