The China Cyber Security is expected to generate CNY ~Bn by 2027F owning to growing IT sector, government regulations and technological development: Ken Research

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:-

China Cyber Security Market

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