Malaysia Cybersecurity Market - By Offering (Security Type, Services); By Deployment Mode (Cloud, On-premises); By End User (BFSI, Healthcare, Manufacturing, Government & Defense, IT & Telecommunication, Other), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Malaysia Cybersecurity Market Size Booming to Touch USD 109.51 Million by 2029
Malaysia cybersecurity market is gaining traction because of the rising frequency and sophistication of cyberattacks in the country and ongoing digitalization across industries.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Malaysia cybersecurity market size at USD 41.75 million in 2022. During the forecast period between 2023 and 2029, the Malaysia cybersecurity market size is projected to grow at a CAGR of 9.2% reaching a value of USD 109.51 million by 2029. The expanding integration of cloud computing and cutting-edge technologies, such as AI, AR/VR, and machine learning (ML), together with the rising number of data breach occurrences in the nation, are key growth drivers for the Malaysia cybersecurity market. However, a limited rate of cybersecurity adoption among SMEs along with lack of skilled professionals may act as a huge restraining factor for the market growth.
Malaysia Cybersecurity Market – Overview
Security is the process of guarding against unwanted access to networks, systems, and applications, as well as online or digital threats. Numerous strategies can be used to combat cybercrimes, including but not limited to critical infrastructure security, network security, application security, cloud security, disaster recovery/business continuity planning, storage security, and others. Additionally, since organizations gather, store, and use a lot of private data online, cybersecurity is a primary priority for corporations, and military, financial, and healthcare organizations.
Malaysia Cybersecurity Market – By End User
Based on end user, the Malaysia cybersecurity market is segmented into BFSI, healthcare, manufacturing, government & defense, IT & telecommunications, and others. The BFSI segment dominates the Malaysia cybersecurity market by end user. The use of remote work, hybrid workforces, and cloud-based software systems has almost completely taken over as the pandemic approaches its third year. Additionally, this implies that financial organizations now more than ever have possible cybersecurity weaknesses. Employees no longer exclusively use company-controlled networks and systems to access data. As a result, Malaysia is experiencing a huge increase in the demand for cybersecurity in the BFSI sector.
Impact of COVID-19 on Malaysia Cybersecurity Market
The Malaysia cybersecurity market witnessed boisterous growth after the COVID-19 pandemic outbreak in the country. Additionally, as a result of the COVID-19 pandemic, nation-state cyber activity has increased in depth and severity because traditional methods of gathering intelligence and knowledge were no longer practical due to social norms that encouraged distance. Furthermore, during the lockdown caused by the coronavirus, the number of cyberattacks directed at enterprises grew at a significant rate, principally leading to an increase in demand for qualified cybersecurity professionals and reliable solutions.
Competitive Landscape
Major players operating in Malaysia cybersecurity market include Symantec Corporation, Fortinet Inc., Cisco Systems, Inc., Trend Micro Incorporated, Palo Alto Networks, Inc., FireEye, Inc., Check Point Software Technologies Ltd, Kaspersky Lab, Sophos Ltd, and McAfee, LLC. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Malaysia Cybersecurity Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Malaysia Cybersecurity Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Malaysia Cybersecurity Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Rising Frequency And Sophistication Of Cyberattacks In Malaysia
- 3.2.1.2. Ongoing Digitalization Across Industries
- 3.2.2. Restraints
- 3.2.2.1. Small And Medium-Sized Enterprises (SMEs) Have Limited Financial Resources to Invest
- 3.2.2.2. The Scarcity of Qualified Cybersecurity Experts in Malaysia
- 3.2.3. Opportunities
- 3.2.3.1. The Increasing Adoption of Cloud Computing Services
- 3.2.3.2. The Growth of The Internet Of Things (IoT) Devices in Various Sectors
- 3.2.4. Challenges
- 3.2.4.1. Complexity of Security Requirements
- 3.2.4.2. Balancing Security and Usability
- 3.3. Technology Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Malaysia Cybersecurity Market Overview
- 4.1. Market Size & Forecast, 2019–2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Offering
- 4.2.1.1. Security Type
- 4.2.1.1.1. Cloud Security
- 4.2.1.1.2. Data Security
- 4.2.1.1.3. Identity Access Management
- 4.2.1.1.4. Network Security
- 4.2.1.1.5. Consumer Security
- 4.2.1.1.6. Infrastructure Protection
- 4.2.1.1.7. Other Types
- 4.2.1.2. Services
- 4.2.2. By Deployment
- 4.2.2.1. Cloud
- 4.2.2.2. On-premises
- 4.2.3. By End User
- 4.2.3.1. BFSI
- 4.2.3.2. Healthcare
- 4.2.3.3. Manufacturing
- 4.2.3.4. Government & Defense
- 4.2.3.5. IT and Telecommunication
- 4.2.3.6. Other
- 5. Competitive Landscape
- 5.1. List of Key Players and Their Offerings
- 5.2. Malaysia Cybersecurity Company Market Share Analysis, 2022
- 5.3. Competitive Benchmarking, By Operating Parameters
- 5.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- 6. Impact of Covid–19 on Malaysia Cybersecurity Market
- 7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 7.1. Symantec Corporation
- 7.2. Fortinet Inc.
- 7.3. Cisco Systems, Inc.
- 7.4. Trend Micro Incorporated
- 7.5. Palo Alto Networks, Inc.
- 7.6. FireEye, Inc.
- 7.7. Check Point Software Technologies Ltd
- 7.8. Kaspersky Lab
- 7.9. Sophos Ltd
- 7.10. McAfee, LLC
- 7.11. Other Prominent Players
- 8. Key Strategic Recommendations
- 9. Research Methodology
- 9.1. Qualitative Research
- 9.1.1. Primary & Secondary Research
- 9.2. Quantitative Research
- 9.3. Market Breakdown & Data Triangulation
- 9.3.1. Secondary Research
- 9.3.2. Primary Research
- 9.4. Breakdown of Primary Research Respondents, By Region
- 9.5. Assumptions & Limitations
- 10. *Financial information of non–listed companies can be provided as per availability.
- 11. **The segmentation and the companies are subject to modifications based on in–depth secondary research for the final deliverable.
- List of Figures
- Figure 1 Malaysia Cybersecurity Segmentation
- Figure 2 Malaysia Cybersecurity Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 Malaysia Cybersecurity Market Size, By Value (USD Million), 2019–2029
- Figure 5 Malaysia Cybersecurity Market Share, By Offering, By Value, 2019–2029
- Figure 6 Malaysia Cybersecurity Market Share, By Deployment, By Value, 2019–2029
- Figure 7 Malaysia Cybersecurity Market Share, By End User, By Value, 2019–2029
- List of Tables
- Table 1 Malaysia Cybersecurity Market Size, By Value (USD Million), 2019–2029
- Table 2 Malaysia Cybersecurity Market Size, By Offering, By Value, 2019–2029
- Table 3 Malaysia Cybersecurity Market Size, By Deployment, By Value, 2019–2029
- Table 4 Malaysia Cybersecurity Market Size, By End User, By Value, 2019–2029
- Table 5 Symantec Corporation Company Overview
- Table 6 Symantec Corporation Financial Overview
- Table 7 Fortinet Inc. Company Overview
- Table 8 Fortinet Inc. Financial Overview
- Table 9 Cisco Systems, Inc. Company Overview
- Table 10 Cisco Systems, Inc. Financial Overview
- Table 11 Trend Micro Incorporated Company Overview
- Table 12 Trend Micro Incorporated Financial Overview
- Table 13 Palo Alto Networks, Inc. Company Overview
- Table 14 Palo Alto Networks, Inc. Financial Overview
- Table 15 FireEye, Inc. Company Overview
- Table 16 FireEye, Inc. Financial Overview
- Table 17 Check Point Software Technologies Ltd Company Overview
- Table 18 Check Point Software Technologies Ltd Financial Overview
- Table 19 Kaspersky Lab Company Overview
- Table 20 Kaspersky Lab Financial Overview
- Table 21 Sophos Ltd Company Overview
- Table 22 Sophos Ltd Financial Overview
- Table 23 McAfee, LLC Company Overview
- Table 24 McAfee, LLC Financial Overview
- Table 25 Other Prominent Players Company Overview
- Table 26 Other Prominent Players Financial Overview
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