Maturing Customer Mindsets Broaden Scope of Network Security Market in Asia-Pacific, Finds Frost & Sullivan

Maturing Customer Mindsets Broaden Scope of Network Security Market in Asia-Pacific, Finds Frost & Sullivan PR Newswire SINGAPORE, Nov. 2, 2012 - Security vendors customize strategies to suit the diverse requirements of various markets SINGAPORE, Nov. 2, 2012 /PRNewswire/ -- Escalating cyber threats and maturing customer mindsets toward IT security have paved the way for the rapid growth of the network security market in Asia-Pacific. Many organizations in different countries across the region have devoted larger budgets for security solutions, increasing the diversity in demand. This has led vendors to offer value-added application-centric capabilities with innovations that cater to a wider audience. New analysis from Frost & Sullivan (http://www.networksecurity.frost.com), Asia-Pacific Network Security Market, finds that the market earned revenues of over $1.98 billion in 2011 and estimates this to reach $3.31 billion in 2017. Key end-user segments including service providers, governments, as well as banking, financial services & insurance (BFSI) companies have continued to expand their security network infrastructure. In addition, peripheral verticals such as IT/ITes, oil and gas, and education have increased their budget for IT security as a whole. "Demand grew as vendors successfully marketed network security products by establishing a wider local presence and channel network," said Frost & Sullivan Industry Manager Cathy Huang.