The security software market in the Asia/Pacific region, excluding Japan and China (APeJC), reached an impressive US$7.5 billion in 2024, reflecting a year-over-year growth of 17.2%.
IDC attributes the spending surge to rapid advancements in artificial intelligence (AI), an increasing demand for platform-based solutions, and tighter data privacy regulations.
Organisations are rapidly adopting AI-enabled security capabilities to combat evolving cyber threats.
“As cyberattacks become more sophisticated, especially with the advent of generative AI (GenAI), Chief Information Security Officers (CISOs) are leaning towards unified security platforms that incorporate AI for real-time visibility and faster threat response,” noted Gurpal Singh, senior research manager at IDC Asia/Pacific.
The rise of GenAI is transforming the cybersecurity landscape by enhancing operational productivity, enabling advanced analytics, and facilitating deeper automation across technology stacks.
Security vendors are capitalising on these trends, introducing ‘AI-native’ upgrades that revitalise established security segments.
Industries such as banking and IT/ITeS are at the forefront, implementing AI copilots within their security operations to improve efficiency and resilience.
Looking ahead, IDC forecasts a CAGR rate of 12.4% for the APeJC security software market from 2024 to 2029, projecting revenues to reach US$13.4 billion by the end of that period.
This growth is driven by the increasing complexity of hybrid and multi-cloud environments, which expose vulnerabilities in traditional security models.
Consequently, there is a rising adoption of Cloud Native Application Protection Platforms (CNAPP), Endpoint Detection and Response (EDR), and Extended Detection and Response (XDR) solutions, particularly in banking, financial services, and digital retail.
Moreover, the demand for Customer Identity and Access Management (CIAM) is bolstered by the expansion of marketplaces and super-apps in regions like India and Southeast Asia. However, U.S. tariff hikes have introduced new policy risks that organisations must consider in their security planning.
Despite the challenges posed by macroeconomic factors, security remains a strategic priority for businesses. Leading organisations are now focusing on measurable risk reduction and resilience, moving beyond mere compliance to ensure robust cybersecurity measures in response to evolving regulations across countries such as Australia, India, and Malaysia.
