China Cybersecurity Market Size (2024 - 2029)

China Cyber Security Market Analysis

The China Cybersecurity Market size is estimated at USD 22.79 billion in 2024, and is expected to reach USD 59.32 billion by 2029, growing at a CAGR of 21.09% during the forecast period (2024-2029).

China's cybersecurity market has been rapidly growing with the country's increasing digitization and the corresponding rise in cyber threats. The Chinese government has been actively enhancing its cybersecurity measures to protect critical infrastructure, sensitive data, and businesses against cyber attacks.

• The number of connected devices has increased in China due to technological advancements. The interconnectivity of the devices also grows exponentially with 5G-enabled devices. As a result, there are more connected devices, which immediately increases the market's need for security products.
• Industrial Revolution 4.0 aids cellular connectivity throughout the industry with the rise of IoT. Machine-to-machine connections have also been instrumental in driving the market. According to CNNIC, in December 2023, approximately 2.33 billion internet users in China had access to cellular Internet of Things (IoT) services. Smart public utility, manufacturing, and transportation accounted for over half of the IoT end users.
• One of the major causes of growing cyberattacks is the lack of skilled cybersecurity personnel in each industry. In China, experienced cybersecurity professionals are less than security professionals, who are required to handle cyber threats for financial institutes, government organizations, and private sector/industrial businesses.
• Large businesses are implementing more data-based AI solutions for security and sales. Cybersecurity experts have turned to geospatial data to shore up the lines of defense. Companies can strengthen emergency management, national intelligence, infrastructure protection, and national defense platforms by implementing geospatial data into pre-existing security systems.
• Many organizations in various countries have switched to remote work environments after COVID-19, including China. The rising cyber-attacks involving malware and ransomware are forcing organizations to adopt cybersecurity solutions. Therefore, the Chinese cybersecurity market is anticipated to experience significant growth as a result of the growing work-from-home trend.

China Cyber Security Industry Segmentation

Cybersecurity solutions help organizations detect, monitor, report, and counter cyber threats to maintain data confidentiality. The adoption of cybersecurity solutions is expected to grow in line with the rising internet penetration among developing and developed countries. The need for cybersecurity has increased as every system in today's world is connected to the internet, making data more accessible to cybercriminals.

The study analyzes the current market scenario and growth trends related to cybersecurity technology in China, which has emerged as one of the major hotspots for investments, aided by strong M&A activity, partnerships, and supportive governmental policies. The study tracks the market dynamics and the major implementation use cases for cybersecurity. The Chinese cybersecurity market is segmented by offering (security type [cloud security, data security, identity access management, network security, consumer security, and infrastructure protection], and services), deployment (cloud and on-premise), and end-user (banking, financial services, and insurance, healthcare, manufacturing, government and defense, and IT and telecommunication). The report offers market forecasts and size in value (USD) for all the above segments.