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Indonesia Cybersecurity Market

Indonesia Cybersecurity Market

Indonesia Cybersecurity Market - By Component (Hardware, Software, Services); By Security (Network Security, Endpoint Security, Application Security, Cloud Security, Infrastructure Protection, Data Security, Others); By Deployment Mode (On–Premises, Cloud); By Industry Vertical (Aerospace & Defense, Government, BFSI, IT & Telecommunication, Healthcare, Retail, Manufacturing, Others); By Organization Size (Small & Medium–Sized Enterprises (SMEs), Large Enterprises), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

  • Published Date: June 2023
  • Report ID: BWC23524
  • Available Format: PDF
  • Page: 400

Report Overview

A rapidly growing number of data breaching incidents across Indonesia and increasing number of e-commerce platforms are expected to boost the growth of Indonesia cybersecurity market during the forecast period between 2023 and 2029.

Indonesia Cybersecurity Market - Industry Trends & Forecast Report, 2029

Indonesia cybersecurity market size was estimated to be worth USD 1.04 billion in 2022. During the forecast period between 2023 and 2029, the Indonesia cybersecurity market size is projected to grow at a CAGR of 24.29%, reaching a value of USD 3.83 billion by 2029. Major growth factors for the Indonesia cybersecurity market include the increasing rate of cyberattacks in the country and the rising sophistication of these attacks. According to Asmag, Indonesia is the number one target for cyberattacks, with approximately 42,000 attacks a day, which is prompting the government and organizations to implement necessary security measures, propelling the overall Indonesia cybersecurity market.

Indonesia Cybersecurity Market

Indonesia Cybersecurity Market – Overview

Security is the process of guarding against unwanted access to networks, systems, and applications, as well as online or digital threats. Numerous strategies can be used to combat cybercrime, including but not limited to critical infrastructure security, network security, application security, cloud security, disaster recovery/business continuity planning, storage security, and others. Additionally, since organizations gather, store, and use a lot of personal data online, cybersecurity is a primary priority for corporations and military, financial, and healthcare organizations.

Indonesia Cybersecurity Market

Growth Drivers

Government’s Efforts toward Digitization

The use of cybersecurity-based solutions is anticipated to increase over the projected period as a result of growing focus by the government and regulator attempts to improve cybersecurity. According to the 2018 UN e-government study, Indonesia is already categorized alongside nations like Monaco and New Zealand that have a middle-to-high e-government development score, as reported by AHK Indonesian. Indonesia ranked 41st in terms of its dedication to cybersecurity in 2018, up from 69 in 2017, according to the Global Cybersecurity Index, which is published by the Geneva-based International Telecommunications Union, a specialized agency of the UN.

Restraints

Lack of Skilled Cybersecurity Professionals & Infrastructure

Infrastructure and human resources are the two biggest problems facing Indonesian cybersecurity firms. The larger islands are quickly adopting digitization, while the rest of the country is not yet very connected. Thus, human resources are the short-term issue that cybersecurity firms can address. Furthermore, according to estimates, Indonesia requires about 1,000 cybersecurity specialists to keep up with the rest of the globe in both the public and commercial sectors.

Impact of COVID-19 on the Indonesia Cybersecurity Market

The COVID-19 pandemic presented significant growth opportunities for the Indonesia cybersecurity market owing to the substantial surge in cyber threats and data breaches. According to a report by Reuters back in September 2021, the Indonesia Health Alert Card (eHSC) (also known as the COVID-19 test and trace app) exposed personal data and the health status of 1.3 million people due to a suspected security flow. Additionally, the rising prevalence of remote working and the increasing use of cloud computing and software are also exposing organizations’ crucial data to potential cyber threats. These factors are anticipated to proliferate the integration of advanced cybersecurity measures in Indonesia, propelling the overall market growth.

Indonesia Cybersecurity Market

Segmental Coverage

Indonesia Cybersecurity Market – By Component

Based on component, the Indonesia cybersecurity market is divided into hardware, software, and services segments. The services segment holds the highest share in the Indonesia cybersecurity market, due to the growing demand from small and medium-sized enterprises (SMEs) for consulting services as well as maintenance and upgrade services. Due to their small teams and tight budgets, SMEs frequently confer with other firms before implementing any cybersecurity solutions.

Indonesia Cybersecurity Market – By Security

Based on security, the Indonesia cybersecurity market is segmented into network security, endpoint security, application security, cloud security, infrastructure protection, data security, and others. Infrastructure protection accounts for the largest market share. Organizations operating in Indonesia might benefit from Critical Infrastructure Protection (CIP), which provides protection against an increasing variety of threats and aids in planning for and responding to significant incidents involving critical infrastructure environments. Cloud security is also gaining substantial growth owing to the rising adoption of cloud-based solutions.

Indonesia Cybersecurity Market – By Deployment Mode

Based on deployment mode, the Indonesia cybersecurity market is bifurcated into on–premises and cloud segments. The on-premises deployment mode holds a higher share in the Indonesia cybersecurity market because of its higher data protection compared to other modes. Due to local storage, companies have complete control over the data and security. Sensitive information doesn't need to leave the business's premises. That might be a clear advantage, particularly when it comes to compliance-related issues. The advantage of on-premises systems is that employees may still access the data if network issues cause the connection to the Internet to be disrupted. However, cloud deployment is projected to register the highest growth rate during the forecast period owing to the rising adoption of SaaS following the pandemic outbreak.

Indonesia Cybersecurity Market Share

Indonesia Cybersecurity Market – By Industry Vertical

Based on industry vertical, the Indonesia cybersecurity market is segmented into aerospace & defense, government, BFSI, IT & telecommunications, healthcare, retail, manufacturing, and others. The BFSI segment accounts for the highest market share. The increasing usage of remote work, hybrid workforces, cloud-based software platforms, and online payment platforms has exposed the BFSI sector to new cyber threats. Employees no longer access data solely through networks and systems under the control of the company. As a result, the BFSI industry in Indonesia is witnessing a significant growth in the Indonesia cybersecurity market.

Indonesia Cybersecurity Market – By Organization Size

Based on organization size, the Indonesia cybersecurity market is split into small and medium–sized enterprises (SMEs) and large enterprises. The large enterprise segment dominates the Indonesia cybersecurity market owing to the large volumes of data and substantial risk of financial fraud associated with such an organization's size. However, the small and medium–sized enterprises (SMEs) segment is projected to register the highest growth rate during the forecast period. The increasing prevalence of remote and hybrid working, resulting in access management risks, is directly influencing the demand for cybersecurity among SMEs in Indonesia.

Competitive Landscape

Major players operating in the Indonesia cybersecurity market include Trend Micro Inc., Caulis Inc., Internet Initiative Indonesia, Inc., IBM Corporation, Cisco Systems, Inc., LAC Co. Ltd., SCSK Corporation, NEC Corporation, Spider Labs Ltd., Cybereason Indonesia Corporation, Caulis Inc., and Cybersecurity Cloud, Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

  • In June 2023 – The Indonesian Cyber and Encryption Agency (BSSN) renewed the memorandum of understanding (MoU) with Huawei, the Chinese telecom giant for cooperation in cybersecurity.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2022

Base Year – 2022

Estimated Year – 2023

Forecast Period– 2023–2029

Facts Covered

Revenue in USD Billion

Product/ Service Segmentation

Component, Security, Deployment Mode, Industry Vertical, Organization Size

Key Players

Trend Micro Inc. Caulis Inc., Internet Initiative Indonesia, Inc., IBM Corporation, Cisco Systems, Inc., LAC Co. Ltd., SCSK Corporation, NEC Corporation, Spider Labs Ltd., Cybereason Indonesia Corporation, Caulis Inc., Cybersecurity Cloud, Inc.

 

 

By Component

  • Hardware

  • Software

  1. Advanced Persistent Threat

  2. Threat Intelligence

  3. Security and Information Event Management

  4. Security and Vulnerability Management

  5. Network Access Control

  6. Antivirus/Antimalware

  7. Others

  • Services

  1. Professional Services

  2. Managed Services

By Security

  1. Network Security

  2. Endpoint Security

  3. Application Security

  4. Cloud Security

  5. Infrastructure Protection

  6. Data Security

  7. Others

By Deployment Mode

  1. On–Premises

  2. Cloud

By Industry Vertical

  1. Aerospace & Defense

  2. Government

  3. BFSI

  4. IT & Telecommunication

  5. Healthcare

  6. Retail

  7. Manufacturing

  8. Others

By Organization Size

  1. Small & Medium–sized Enterprises (SMEs)

  2. Large Enterprises

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. Indonesia Cybersecurity Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Growing Data Breaching Incidents Across Indonesia
        2. Increasing Number of E-Commerce Platforms
      2. Restraints
        1. Growing Recession in Indonesia is Pushing for Cheaper Alternatives and Diminishing Cybersecurity
      3. Opportunities
        1. Growing Adoption of Cybersecurity in Small & Medium-Sized Enterprises
      4. Challenges
        1. Insufficient Investments for Cybersecurity Software
    3. Technology Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Indonesia Cybersecurity Market Overview
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Component
        1. Hardware
        2. Software
          1. Advanced Persistent Threat
          2. Threat Intelligence
          3. Security and Information Event Management
          4. Security and Vulnerability Management
          5. Network Access Control
          6. Antivirus/Antimalware
          7. Others
        3. Services
          1. Professional Services
          2. Managed Services
      2. By Security
        1. Network Security
        2. Endpoint Security
        3. Application Security
        4. Cloud Security
        5. Infrastructure Protection
        6. Data Security
        7. Others
      3. By Deployment Mode
        1. On–Premises
        2. Cloud
      4. By Industry Vertical
        1. Aerospace and Defense
        2. Government
        3. BFSI
        4. IT & Telecommunication
        5. Healthcare
        6. Retail
        7. Manufacturing
        8. Others
      5. By Organization Size
        1. Small and Medium–sized Enterprises (SMEs)
        2. Large Enterprises
  5. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Indonesia Cybersecurity Company Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  6. Impact of Covid-19 on Indonesia Cybersecurity Market
  7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Trend Micro Inc. Caulis Inc.
    2. Internet Initiative Indonesia, Inc.
    3. IBM Corporation
    4. Cisco Systems, Inc.
    5. LAC Co. Ltd.
    6. SCSK Corporation
    7. NEC Corporation
    8. Spider Labs Ltd.
    9. Cybereason Indonesia Corporation
    10. Caulis Inc.
    11. Cybersecurity Cloud, Inc.
    12. Other Prominent Players
  8. Key Strategic Recommendations
  9. Research Methodology
    1. Qualitative Research
      1.  Primary & Secondary Research
    2.  Quantitative Research
    3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

 

List of Figures

 

Figure 1       Indonesia Cybersecurity Segmentation

Figure 2       Indonesia Cybersecurity Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       Indonesia Cybersecurity Market Size, By Value (USD Billion), 2019–2029

Figure 5       Indonesia Cybersecurity Market Share, By Component, By Value, 2019–2029

Figure 6       Indonesia Cybersecurity Market Share, By Security, By Value, 2019–2029

Figure 7       Indonesia Cybersecurity Market Share, By Deployment Mode, By Value, 2019–2029

Figure 8       Indonesia Cybersecurity Market Share, By Industry Vertical, By Value, 2019–2029

Figure 9       Indonesia Cybersecurity Market Share, By Organization Size, By Value, 2019–2029

 

 

List of Tables

 

Table 1        Indonesia Cybersecurity Market Size, By Value (USD Billion), 2019–2029

Table 2        Indonesia Cybersecurity Market Size, By Component, By Value, 2019–2029

Table 3        Indonesia Cybersecurity Market Size, By Security, By Value, 2019–2029

Table 4        Indonesia Cybersecurity Market Size, By Deployment Mode, By Value, 2019–2029

Table 5        Indonesia Cybersecurity Market Size, By Industry Vertical, By Value, 2019–2029

Table 6        Indonesia Cybersecurity Market Size, By Organization Size, By Value, 2019–2029

Table 7        Trend Micro Inc. Caulis Inc. Company Overview

Table 8        Trend Micro Inc. Caulis Inc. Financial Overview

Table 9        Internet Initiative Indonesia, Inc. Company Overview

Table 10      Internet Initiative Indonesia, Inc. Financial Overview

Table 11      IBM Corporation Company Overview

Table 12      IBM Corporation Financial Overview

Table 13      Cisco Systems, Inc. Company Overview

Table 14      Cisco Systems, Inc. Financial Overview

Table 15      LAC Co. Ltd. Company Overview

Table 16      LAC Co. Ltd. Financial Overview

Table 17      SCSK Corporation Company Overview

Table 18      SCSK Corporation Financial Overview

Table 19      NEC Corporation Company Overview

Table 20      NEC Corporation Financial Overview

Table 21      Spider Labs Ltd. Company Overview

Table 22      Spider Labs Ltd. Financial Overview

Table 23      Cyber ​​Reason Indonesia Corporation Company Overview

Table 24      Cyber ​​Reason Indonesia Corporation Financial Overview

Table 25      Caulis Inc. Company Overview

Table 26      Caulis Inc. Financial Overview

Table 27      Cybersecurity Cloud, Inc. Company Overview

Table 28      Cybersecurity Cloud, Inc. Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: Indonesia Cybersecurity Market is expected to grow at a CAGR of 24.29% during the forecast period between 2023 and 2029.
Ans: Indonesia Cybersecurity Market size was estimated at USD 1.04 billion in 2022.
Ans: Major factors driving the growth of Indonesia Cybersecurity Market include growing data breaching incidents across Indonesia and growing adoption of cybersecurity in small & medium-sized enterprises.
Ans: Key players in Indonesia Cybersecurity Market include Trend Micro Inc. Caulis Inc., Internet Initiative Indonesia, Inc., IBM Corporation, Cisco Systems, Inc., LAC Co. Ltd., SCSK Corporation, NEC Corporation, Spider Labs Ltd., Cybereason Indonesia Corporation, Caulis Inc., and Cybersecurity Cloud, Inc.
Ans: The BFSI segment holds the highest Market share in the Indonesia Cybersecurity Market by industry vertical.
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