Indonesia Application Security Market Forecast 2022-2028

Indonesia Application Security Market Forecast 2022-2028

KEY FINDINGS

The Indonesia application security market is anticipated to rise with a CAGR of 16.41% during the estimated period. The country’s market growth is fuelled by key drivers such as a significant increase in cyber-attacks, the surge in need to extend security at both network and software levels, and growing digitization. While the base year considered for the studied market is 2021, the forecasted years are from 2022 to 2028.

MARKET INSIGHTS

Since the majority of businesses possess low awareness of security, penetration testing in Indonesia is extremely vital. Profoundly, it also ensures a professional confirmation of the IT landscape. In 2018, the Government of Indonesia entered into an agreement with the United States for the promotion of strong cyberspace cooperation. Although several steps are established by the nation’s government, the country is not prepared to defend and remain safe from cyberattacks, especially during the COVID-19 pandemic.

The ability to receive LTE (4G) transmission has improved tremendously in Indonesia’s countryside region, with mobile penetration rates reaching over 80%. However, on account of the lack of economic opportunities, people living in rural areas cannot afford a smartphone. Nevertheless, for smartphone owners, communication apps, shopping apps, and social media platforms are relatively popular, with penetration rates of approximately 92%, 91% and 90%, respectively. Hence, these factors are set to augment the Indonesia application security market growth during the forecasting years.

COMPETITIVE INSIGHTS

Some of the leading players operating in the market are Accenture PLC, Oracle Corporation, Micro Focus International PLC, HCL Technologies Limited, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments