cxo voice
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release
No Result
View All Result
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release
No Result
View All Result
Leaders Talk and Latest Tech News | CXO VOICE
No Result
View All Result
Home News Cyber Security

IDC Forecasts 12.3% Growth in Asia/Pacific Security Spending for 2024

News Desk by News Desk
April 4, 2024
Cyber security Forecasts

IDC’s Worldwide Semiannual Security Spending Guide data shows that Asia/Pacific, excluding Japan (APeJ), will allocate $36 billion toward security hardware, services, and software, marking a 12.3% rise from the last year. 

Companies in the region are focusing on investments in security-related products and services due to growing cybersecurity related threats. IDC expects spending on security to grow at a five-year CAGR of 12.8% over the forecast period (2022-27) and reach USD 52 billion by 2027.

China leads security spending with over 40%, with a 13.5% five-year CAGR, followed by Australia and India, which contribute over 25%.

“The surge in cyber threats utilizing AI, such as deepfakes, pretexting, and identity theft, has spurred a heightened demand for comprehensive security solutions in the region that encompass threat detection, automated remediation, and behavioral analysis capabilities,” says Sharad Kotagi, Market Analyst, IT Spending Guides, IDC Asia/Pacific.

In 2024, Financial Services, Government, and Telecom lead security spending in APeJ, accounting for over 50%. They adapt to tech shifts like open banking and digital payments, while Software and High Tech see rapid growth.

High demand for security in complex IT setups and a lack of talent create opportunities for vendors. Managed Services lead, forming nearly 40% of security spending, with a 12.8% five-year growth rate.

ADVERTISEMENT

“Regulatory demands and data protection laws will boost spending on security consultation and integration services. Managed security services will flourish due to IT complexity and cybersecurity talent shortages,” 

says Benjamin Ten, Research Analyst, IT Services, IDC Asia/Pacific.

Security services lead spending, followed by security software. Major segments like Endpoint security, Information and Data Security Software, and Identity and Digital Trust Software drive a substantial portion of the total spending in 2024. Network security essentials, including firewalls and intrusion detection and prevention, will drive spending on security hardware and software in the future.

Also Read: IBM Watsonx Brings New Generative AI Abilities to Enhances Masters App

News Desk

News Desk

by CXO VOICE team memebrs, [email protected]

Related Posts

Tech Mahindra Launches New Brand Identity, Ushering in a Future-Ready Era on 39th Anniversary
News

Tech Mahindra Launches New Brand Identity, Ushering in a Future-Ready Era on 39th Anniversary

October 24, 2025
NetApp and Red Hat
Business

Red Hat Unveils AI-Powered Developer Lightspeed to Accelerate Application Development

October 24, 2025
Sophos ITDR
Cyber Security

Sophos Launches Identity Threat Detection and Response (ITDR) System to Combat Rising Credential-Based Attacks

October 23, 2025
DIB HCLTech partnership
Business

DIB Partners with HCLTech to Revolutionize Islamic Banking through Advanced AI Solutions

October 22, 2025
Chipmind
Business

Chipmind secures $2.5 million in funding for its AI agents to speed chip making

October 21, 2025
Lenovo Unveils AI Enabled Workforce Portfolio to Transform Workplace Efficiency
AI

Lenovo Unveils AI Enabled Workforce Portfolio to Transform Workplace Efficiency

October 21, 2025
InterSystems and Google
Business

InterSystems and Google Cloud Integrate InterSystems HealthShare with Google Cloud’s Healthcare API

October 21, 2025
AWS DNS Glitch Disrupts Major Platforms, Affecting Millions Worldwide
Cyber Security

AWS DNS Glitch Disrupts Major Platforms, Affecting Millions Worldwide

October 20, 2025
Load More
ADVERTISEMENT

Latest Updates

Tech Mahindra Launches New Brand Identity, Ushering in a Future-Ready Era on 39th Anniversary

Tech Mahindra Launches New Brand Identity, Ushering in a Future-Ready Era on 39th Anniversary

by News Desk
3 days ago

NetApp and Red Hat

Red Hat Unveils AI-Powered Developer Lightspeed to Accelerate Application Development

by News Desk
3 days ago

Sophos ITDR

Sophos Launches Identity Threat Detection and Response (ITDR) System to Combat Rising Credential-Based Attacks

by Deepa Sharma
4 days ago

DIB HCLTech partnership

DIB Partners with HCLTech to Revolutionize Islamic Banking through Advanced AI Solutions

by Deepa Sharma
5 days ago

Chipmind

Chipmind secures $2.5 million in funding for its AI agents to speed chip making

by Deepa Sharma
6 days ago

Lenovo Unveils AI Enabled Workforce Portfolio to Transform Workplace Efficiency

Lenovo Unveils AI Enabled Workforce Portfolio to Transform Workplace Efficiency

by Deepa Sharma
6 days ago

Expert Views

agentic AI threats
Cyber Security

Top 10 agentic AI threats, and how to defend against them

October 17, 2025
Your Face, Your Data: The Hidden Risks of Uploading to AI Tools
Cyber Security

Your Face, Your Data: The Hidden Risks of Uploading to AI Tools

October 7, 2025
AI in Hiring
Opinion

AI in Hiring: Separating the Hype from Real-World Use Cases

September 19, 2025
Why Even One Unpatched Device Can Be a Catastrophic Risk for Startups and SMBs
Cyber Security

Why Even One Unpatched Device Can Be a Catastrophic Risk for Startups and SMBs

July 25, 2025
Cyber Criminals
Cyber Security

How WormGPT Became ChatGPT’s Evil Twin

July 15, 2025

Get Latest Update

Subscribe to our mailing list to receives newsletter direct to your inbox!

ADVERTISEMENT

Leaders Interviews

Jagat Shah, Chairman & CEO of MITSUMI Group
Leaders Talk

Leadership in Emerging Markets: Exclusive Interview with Jagat Shah, Chairman & CEO of MITSUMI Distribution

-
Tokenization
Interview

Revolutionizing Finance: An Exclusive Interview with Sid Ugrankar, Co-founder of Qila.io on the Future of Blockchain and Tokenization

-
Steve Wilson, GenAI Cybersecurity LLMs
Cyber Security

How effective is GenAI in cybersecurity? The role of LLMs and AI in security solutions. [Interview with Steve Wilson]

-
Interview on Counterfeit products with Nikhil Narayan
Leaders Talk

Advancements in ML & AI made it possible to detect counterfeit products in real-time, says Nikhil Narayan

-

Entrepreneur

Persistent Gender Bias Clouds Perceptions of Leadership in Tech: Study Finds

Top Leadership Skills Entrepreneurs Need in the Age of AI

Samsung Electronics appoints its first female president

Inspiring Women Entrepreneurs in India (2022)

CXOVoice.com is a leading online publication for CXOs, entrepreneurs, senior leaders, developers, and industry professionals. Our coverage spans key sectors, including IT, technology, banking, finance, cybersecurity, engineering, and automobiles.

Connect with us

Easy Links

  • Cryptocurrency
  • Event
  • Blockchain
  • Press Release
  • Resources & Downloads

Write Us

[email protected]
  • Home
  • About Us
  • Contact Us
  • Advertise
  • Privacy & Policy
  • Feedback

Copyright © 2025 CXOVoice - All Right Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/

No Result
View All Result
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release

Copyright © 2025 CXOVoice - All Right Reserved