CHART: Security Spending in Asia/Pacific to Grow 16.7% in 2023

Security hardware, services and software spending in Asia/Pacific (excluding Japan) is expected to reach $36 billion in 2023, an increase of 16.7% over the previous year, according to an IDC report. This market outlook sits ahead of the expected worldwide growth of 12.1% in 2023.

IDC expects security investments to remain resilient in 2023 and the forecasted years despite the economic slowdown and uncertainty risks. Spending on security-related products and services will grow at a five-year CAGR of 15.4% over the forecast period (2021-2026) and reach $55 billion by 2026.

📊 Global cyberattacks increased by 38% per week in 2022, says report

In new data released by Check Point Research (CPR) on last year’s cyberattack trends, global cyberattacks increased by 38% per week on corporate networks in 2022, compared to 2021. The global volume of cyberattacks also reached an all-time high in Q4 2022, with an average of 1168 weekly attacks

TechloyEmmanuel Oyedeji

Key drivers behind this growth are the rise in cyber-attacks, digital transformation initiatives, and continued hybrid workforce trends. With the growing number of highly sophisticated and targeted cyberattacks in the region and 38% more cyberattacks per week on corporate networks globally in 2022, businesses in the region are increasing investments in tools and solutions to achieve cyber resiliency against cyber threats.