According to Ken Research, Indonesia‘s cybersecurity market is on a swift ascent, projected to reach approximately USD 917.9 million by 2028. This growth, at a CAGR of 9.3% from 2023 to 2028, marks a significant shift in the digital security sector, driven by escalating cyber threats and the rapid digitalisation of industries.
Ken Research highlights that Indonesia’s cybersecurity landscape is undergoing rapid evolution, fueled by digital transformation across various sectors. Factors such as the rise of SMEs, increased regulatory compliance, and strategic R&D investments are key drivers of this growth.
The escalating cyber threats are pushing the demand for robust cybersecurity solutions. Services like SIEM, particularly in the banking and financial sectors, are essential for maintaining data confidentiality. These services, including cloud security and endpoint protection, are crucial in safeguarding Indonesia’s digital infrastructure.
The Indonesian market, as reported by Ken Research, benefits from a synergy of global and local cybersecurity expertise. This collaboration is vital in addressing the unique digital security challenges faced by Indonesia.
Predominantly, the BFSI sector, along with fintech and e-commerce, are leading the demand for advanced cybersecurity solutions. This reflects the critical need for data protection in these digitally-driven sectors.
Regions like Borneo Island and Jakarta are experiencing significant cybersecurity investments, as indicated by Ken Research. These investments underscore the need for enhanced digital security measures in Indonesia’s key economic zones.
The future of Indonesia’s cybersecurity market, as per Ken Research, is poised for growth driven by SMEs, increased R&D, and the adoption of AI, ML, and IoT technologies. These developments are expected to shape a dynamic and challenging cybersecurity landscape.
