What years does this Taiwan Cybersecurity Market cover?

The report covers the Taiwan Cybersecurity Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Taiwan Cybersecurity Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Taiwan Cybersecurity Market Size

Market Size of Taiwan Cybersecurity Industry

Study Period	2019 - 2029
Base Year For Estimation	2023
Forecast Data Period	2024 - 2029
Historical Data Period	2019 - 2022
CAGR	11.10 %
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

Taiwan Cybersecurity Market Analysis

The Taiwan cybersecurity market is expected to register a CAGR of 11.1% during the forecast period 2022-2027. Taiwan is one of the most prominent hubs in the world. The spread of the Internet and the accompanying changes in consumers' behavior refer to issues such as cybercrime and personal protection.

The National Information and Communication Security Task Force (NICST) was established to strengthen Taiwan's ability to address information and communication security issues. The island country's growing number of internet users is driving the demand for cybersecurity services. According to Statista, as of January 2022, there are 21.7 million internet users, which accounts for almost 91% of the entire population.
Moreover, in May 2022, Taiwan joined a host of other nations led by the UN to provide free and open Internet. This could potentially increase the number of internet users and the chances of online scams and crimes. Developments like these are expected to drive the market.
Regarding digital transformation, Taiwan is one of the fastest leading economies. The country is committed to achieving net-zero capacity by 2050. The island nation is approaching digitization with great strides.
Nevertheless, due to the lack of necessary infrastructure and workforce, the nation's IT sector has not been flouring in full force. Moreover, WEF believes that the lack of proper cybersecurity measures is the fourth major risk factor for the country.
Due to the ongoing COVID-19 outbreak, the country is taking precautionary measures. With schools closed and communities asked to stay home, several organizations have found ways to enable their employees to work from home. This has led to increased adoption of video communication platforms and has surged the demand for cybersecurity services.

Taiwan Cybersecurity Industry Segmentation

IT advancement, communication technologies, and smart energy grids are changing the landscapes of almost every country's critical infrastructure and business networks. However, with rapidly changing technology comes rapidly advancing threats. Cybersecurity solutions help an organization to monitor, detect, report, and counter cyber threats, which are internet-based attempts to damage or disrupt information systems and hack critical information, using spyware and malware, and by phishing to maintain data confidentiality. The market sizing for the study has been provided based on the end-user spending on Cybersecurity solutions and services.

By Type of Security
		Network Security
		Cloud Security
		Application Security
		End-point Security
		Wireless Network Security
		Others

By Solution
		Threat Intelligence & Response
		Identity and Access Management
		Data Loss Prevention
		Security and Vulnerability Management
		Unified Threat Management
		Enterprise Risk and Compliance
		Managed Security
		Others (Managed & Professional Services)

By Deployment
		Cloud
		On-Premise

By End-user Industry
		Aerospace and Defense
		Banking, Financial Services, and Insurance
		Healthcare
		Manufacturing
		Retail
		Government
		IT and Telecommunication
		Other End-user Industries

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Taiwan Cybersecurity Market Size Summary

The Taiwan cybersecurity market is poised for significant growth, driven by the increasing number of internet users and the rapid digital transformation within the country. As Taiwan embraces digitization and aims for net-zero capacity by 2050, the demand for robust cybersecurity solutions is escalating. The establishment of the National Information and Communication Security Task Force (NICST) underscores the government's commitment to enhancing information security. However, challenges such as inadequate infrastructure and a skilled workforce remain. The COVID-19 pandemic has further accelerated the adoption of cybersecurity services, as remote work and the use of video communication platforms have surged. The growing trend towards cloud-based solutions is also contributing to market expansion, with organizations recognizing the cost-effectiveness and enhanced security offered by cloud deployments.

The market landscape is moderately fragmented, with key players engaging in strategic initiatives like mergers, acquisitions, and partnerships to strengthen their offerings. The financial services, banking, and insurance sectors are focal points for enhanced cybersecurity measures, driven by government initiatives and foreign direct investment. The rise in cryptocurrency adoption and cashless payments is expected to further propel the demand for cybersecurity products. Companies are prioritizing investments in email security, disaster recovery, and end-to-end security solutions. Collaborations, such as those between AuthenTrend and Microsoft, and partnerships like that of Lanner Electronics and 6WIND, are indicative of the industry's efforts to create secure and efficient digital ecosystems. These developments are anticipated to attract foreign players and drive the growth of the cybersecurity market in Taiwan.

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Taiwan Cybersecurity Market Size - Table of Contents

1. MARKET INSIGHTS
1. 1.1 Market Overview
2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis
  1. 1.2.1 Bargaining Power of Suppliers
  2. 1.2.2 Bargaining Power of Consumers
  3. 1.2.3 Threat of New Entrants
  4. 1.2.4 Intensity of Competitive Rivalry
  5. 1.2.5 Threat of Substitutes
3. 1.3 Assessment of Impact of COVID-19 on the Industry
2. MARKET SEGMENTATION
1. 2.1 By Type of Security
  1. 2.1.1 Network Security
  2. 2.1.2 Cloud Security
  3. 2.1.3 Application Security
  4. 2.1.4 End-point Security
  5. 2.1.5 Wireless Network Security
  6. 2.1.6 Others
2. 2.2 By Solution
  1. 2.2.1 Threat Intelligence & Response
  2. 2.2.2 Identity and Access Management
  3. 2.2.3 Data Loss Prevention
  4. 2.2.4 Security and Vulnerability Management
  5. 2.2.5 Unified Threat Management
  6. 2.2.6 Enterprise Risk and Compliance
  7. 2.2.7 Managed Security
  8. 2.2.8 Others (Managed & Professional Services)
3. 2.3 By Deployment
  1. 2.3.1 Cloud
  2. 2.3.2 On-Premise
4. 2.4 By End-user Industry
  1. 2.4.1 Aerospace and Defense
  2. 2.4.2 Banking, Financial Services, and Insurance
  3. 2.4.3 Healthcare
  4. 2.4.4 Manufacturing
  5. 2.4.5 Retail
  6. 2.4.6 Government
  7. 2.4.7 IT and Telecommunication
  8. 2.4.8 Other End-user Industries

Taiwan Cybersecurity Market Size FAQs

What is the current Taiwan Cybersecurity Market size?

The Taiwan Cybersecurity Market is projected to register a CAGR of 11.10% during the forecast period (2024-2029)

Who are the key players in Taiwan Cybersecurity Market?

Adlink Technology, Egis Technology Inc., AuthenTrend, CureLAN Technology Co and CyCraft are the major companies operating in the Taiwan Cybersecurity Market.