Market Trends of Japan Cybersecurity Industry
Network Security to Witness the Growth
- The growing demand for the protection of integrity, confidentiality, and availability of network infrastructure within organizations is leading to increased demand for cybersecurity solutions in the Japanese cybersecurity market. Due to the government's Cloud First policy, there has been a strong demand for networking infrastructure security as many end users are increasingly taking advantage of virtual environments.
- In addition, the need for robust network security measures has been highlighted by constantly developing cyber threats targeting networks in countries' end-user sectors, predominantly healthcare, IT and telecommunications, and production.
- Secure networks are important for IT systems and their proper functioning because the majority of applications work in a networking environment, which is highly dependent on their performance, security, or reliability. Networks are becoming decentralized, and hybrid networks with existing network resources from cloud data centers across end-user countries drive the market. This has driven the adoption of network security solutions to protect networking infrastructure from unauthorized access, data theft, and manipulation.
- Moreover, the country’s end users have witnessed growth in adopting multi-cloud environments, largely driven by the growth in data centers and cloud region launches by IT vendors such as Microsoft, Google, and AWS. This has increased the complexity, making it difficult for Japanese businesses to secure a network.
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BFSI Expected to Witness Significant Market Share
- In particular, factors such as the digital transformation of financial services, the adoption of cloud computing, and the integration of advanced technologies such as machine learning and artificial intelligence to enhance banking and finance operations have led to a significant change in the security measures of the BFSI industry in Japan. In addition, growing data breaches and cyberattacks in financial firms further necessitate adopting cybersecurity solutions in the country’s BFSI sector.
- Further, with the growing technological penetration and digital channels, such as mobile banking and internet banking, in the country’s financial sector, the attack surface for cyber threats in the BFSI sector has expanded.
- The expansion of mobile banking, digital payment platforms, and online transactions in the country’s BFSI sector has created new challenges for cybersecurity, thus driving the demand for advanced cybersecurity solutions to protect against fraud, data breaches, and other cyber risks.
- Moreover, the growth in cyberattacks in banks and financial firms has witnessed a significant rise in the past few years, necessitating the demand for robust cybersecurity measures to protect customer data.
