APAC Home Wi-Fi Security Solutions Market Size 2020: By Keyplayers Cujo LLC, KoalaSafe Inc., and Systems Solutions & Development Technologies Ltd. (SSD-Tech), Cisco System Inc., Panasonic Corporation, Luma Home Inc., Aruba Networks, Inc., Securifi, Keezel
The APAC Home Wi-Fi Security Solutions market is estimated to account for US$ 10,748.5 Mn in terms of value by the end of 2019
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Key players operating in the APAC home Wi-Fi security solutions market are Cujo LLC, KoalaSafe Inc., and Systems Solutions & Development Technologies Ltd. (SSD-Tech), Cisco System Inc., Panasonic Corporation, Luma Home Inc., Aruba Networks, Inc., Securifi, Keezel Inc., and others
Market Dynamics- Drivers
1. Increasing users of smart devices and growing penetration of internet is expected to drive the APAC home Wi-Fi security solutions market during the forecast period
In the recent past, there has been significant growth in adoption of smart devices and internet usage in Asia Pacific region. There has been 10 fold increase in terms of access in emerging economies such as Indonesia, China, Malaysia, and India. Moreover, growing cyber-crime networks and introduction of advanced commercial-scale toolkits coupled with rising focus on monetization of malware and associated threats are expected to drive the market growth in the near future. For instance, according to Ineternetlivestats, number of internet users in India reached to 27% of total population in 2015, up from 2.4% in 2005. According to the same source, Malaysia and Indonesian showed growth of 15.8% to 43.4% and 3.6% and 19.4% respectively from 2005 to 2015.
2. Availability of lucrative polices offered by wireless network service provider is expected to propel the APAC home Wi-Fi security solutions market growth over the forecast period
The home user category in wireless network has increased in the recent past in the region. This is owing to growing need to stay connected and avail advantages of online transactions is expected to drive the market growth in the near future. For instance, in April 2015, the Government of India announced plans to roll-out free high-speed Wi-Fi 2,500 cities and towns across the country over the next three years. The program was conducted under Digital India Initiative, involving investment of US$ 1.04 billion.
India dominated the APAC Home Wi-Fi Security Solutions market in 2018, accounting for 75.5% share in terms of volume, followed by Indonesia and Malaysia, respectively
1. 1. Proactive initiatives taken by government of various countries, in order to expand internet penetration is expected offer lucrative opportunities for market players
Various emerging economies in Asia Pacific are involved in increasing penetration of internet, by undertaking initiatives for high-speed and cost-effective internet. These initiatives are expected to fuel adoption of M2M communication, thereby driving demand for concerning security solutions. For instance, in 2007, the Government of Malaysia introduced National Broadband Initiative (NBI) with target to achieve 50% household broadband penetration by 2015.
2. Increasing awareness regarding cyber security and associated threats is expected to pose excellent growth opportunities for market players
Emerging economies in Asia Pacific such as India, Malaysia, Indonesia, and China are home to well-established financial markets. High growth of e-commerce industry and baking sector has increased the prevalence of cyber-attacks. Although, until 2015, there were no uniformity in law regarding cyber-attacks, mandating their disclosure, the organizations have started to focus on cyber security, in order to neutralize the threats. For instance, in 2015, McAfee, Inc. (Now Intel Security Group), Palo Alto Networks, Inc., Fortient, Inc., and Symantec Corporation came together to establish Cyber Threat Alliance. The group provides intelligence regarding cyber threats and cyber-attacks across the region.
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1. Upsurge of advance home security systems has emerged as the latest trend in APAC home Wi-Fi security solutions market
Previously, introduction of smart home concept required significant amount of professionals for hardwiring the house. However, this situation has changed with innovations in smart home and related technologies and innovative home security systems. For instance, the advanced home security systems have features such as plug-and-play and DIY devices.
2. Growing reliance of cloud service is another major trend influencing the market behavior
Cloud integration has increased in the recent past with rising change in the way peripheral devices are developed, as functions are transported to the cloud leaving questions on interoperability. Moreover, cloud adoption has increased for networking, storage, compute, and for reducing cost of user devices and smooth functioning of new devices.
802.11 Standards - This standard is introduced by Institute of Electrical and Electronics Engineers (IEEE) in support for secure WLAN deployments
Department of Telecommunications (DoT) Regulations - The objective of DoT regulation is to ensure that public WiFi Internet access are not utilized for illegal purpose.
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