China Cyber Security market is growing at a CAGR of around 12.4% during the forecast period. All the organizations in China are in possession of an increasing amount of personal information and transaction data. These organizations are now the main targets of cyber-attacks with sensitive data often being leaked due to organizational system vulnerabilities. In 2016-2017, internet users in China have suffered financial losses of up to RMB 91.5 billion due to personal information leakage, fraud, junk email and so forth. To overcome these issues the Chinese government initiatives have been implementing initiatives and regulations, which again is the major reason for this high penetration rate. An instant of this is the Broadband China Project, which focuses on providing access to high-speed broadband networks to 95 % of the country’s urban population.
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Additionally, China’s State Council has announced plans to invest $22 billion in expanding broadband network infrastructure in rural areas of the country by the year 2020. This investment focuses on providing improved internet services to approximately 30 million households in the country which including about 50,000 villages. Moreover, China has a high number of smartphone users. These smartphones are adopted for various applications such as online transactions; social networks and so forth. These applications create highly vulnerable cyberspace which attracts the hackers regularly and thus requires the cyber security solutions to handle these threats, which in turn creates demand for the China cyber security market.
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According to the China Internet Network Information Center (CINIC), most of the companies in the region possessed basic awareness of cyber security. China holds some cyber regulations which motivate the organizations to adopt the various cyber security strategies in the region. The region’s major cyber security law came into existence in June 2017. It includes the protection of critical information infrastructure, safeguards for national cyberspace sovereignty, data and protection of individual privacy. However, China already had certain regulations related to information security such as Administrative Measures for Hierarchical Protection of Information Security, Administrative Measures for Prevention and Treatment of Computer Viruses, Anti-Terrorism law and so forth.
There are certain regulations such as Computer Information Network and Internet Security, Protection and Management Regulations which was issued in 1997. It consists of 5 Chapters and 25 Articles which ensures Internet service providers must secure processing of data, educate Internet users on security. Therefore, it is estimated to augment the demand of China cyber security market.
China Cyber Security Market Segmentation
• Network Security
• Application Security
• Mobile Security
• Wireless Security
• Cloud Security
• Risk and Compliance Management
• Identity and Access Management
• Data Loss Protection
• Unified Threat Management
• Antimalware and Antivirus
• DDOS Mitigation
• Others (Security and Vulnerability Management, and Disaster Recovery)
• Aerospace & Defense
• Others (Manufacturing, and Transportation)
• Capgemini SE
• CISCO Corp.
• CSC Corp.
• DELL (Secureworks Inc.)
• IBM Corp.
• Intel Corp.
• Lockheed Martin Corp.
• Palo Alto Networks
• Symantec Corp.
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