Malaysia Cybersecurity Market: Crosses USD 1.05 billion Valuation in 2023, Envisions 11.4% CAGR Surge Up to 2030
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Malaysia Cybersecurity Market: Crosses USD 1.05 billion Valuation in 2023, Envisions 11.4% CAGR Surge Up to 2030
Malaysia Cybersecurity Market: In-Depth Analysis and Forecasts for 2024-2030
MarkNtel Advisors, a leading market research firm, has showed its latest study titled “Malaysia Cybersecurity Market“, offering a detailed industry overview and market perspective. This comprehensive research provides insights into the current state of the market, highlighting recent advancements and emerging trends.
The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.
Analysis and Insights into the Malaysia Cybersecurity Market: 2024-2030
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. The market growth is attributed to soaring foreign direct investments in the service sector due to favorable government initiatives and the absence of robust cybersecurity systems for routine work. This gap in the optimum cybersecurity infrastructure and the increasing establishment of service sector companies in the country has also resulted in rising cyber threats. According to the Malaysian Investment Development Authority, in 2023, more than 50% of the FDI received was for the service sector in the country. The growing establishment of organizations is demanding suitable cybersecurity services to shield their information, virtual structures, and ordinary operational tactics from unnecessary cyber threats and, in some instances, serious cyber assaults.
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What are the primary factors driving the growth of the Malaysia Cybersecurity Market?
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.
Malaysia Cybersecurity Market Segmentation:
The Malaysia Cybersecurity market is categorized in to different segments. Analyzing growth across these segments enables a comprehensive understanding of key growth areas within the industry. This segmentation provides valuable market insights, empowering stakeholders to make strategic decisions and identify primary market applications effectively.
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)
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)
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)
Geographical Analysis into the Malaysia Cybersecurity Market:
The Malaysia Cybersecurity market is categorized based Regions:
- North
- South
- East
- Central
- Sarawak
- Sabah
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Competitive Landscape and Malaysia Cybersecurity Market Share Analysis:
The competitive landscape of the Malaysia Cybersecurity Market includes comprehensive details about competitors. These details encompass company overviews, financial performance, revenue generation, market potential, investments in research and development, new market strategies, production facilities, strengths and weaknesses, product launches, ongoing trials, approvals, patents, product range, dominant applications, and technology life cycle.
- IBM
- CISCO
- Microsoft
- Palo Alto Networks
- Wizlynx group
- AKATI Sekurity
- AVG
- Amazon Web Services, Inc.
- Qinetics MSP Sdn Bhd
- Oracle
- 3i Infotech Sdn Bhd
- others
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Questions Addressed in this Study
- What factors are driving the Malaysia Cybersecurity Market growth?
- How is the Malaysia Cybersecurity Market expected to grow over the next five years?
- What are the key insights into the current trends in the Malaysia Cybersecurity Market?
- What is the current size of the Malaysia Cybersecurity Market, and how is it projected to change in the future?
- What is the future outlook for the Malaysia Cybersecurity Market in terms of technological advancements and market expansion?
Why choose MarkNtel?
MarkNtel Advisors is a leading market research company, 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 & emerging geographies allows our clients to formulate their strategies in a much more 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 14.8 diverse industrial verticals.
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