In adopting a digital-first mindset, organizations in Southeast Asia are set to raise their investment in cybersecurity, according to the recent IDC (International Data Corp.) Asia/Pacific Security Sourcing Survey 2022.
Data is the new fuel and safeguarding them is among the foremost concern of decision-makers. Based on IDC’s numbers organizations in the region spent $3.2 billion on cybersecurity (services, software, and appliance) in 2021. This figure is expected to increase at a five-year CAGR of 13.6 % to reach $6.1 billion by 2026.
“Adoption of digital tools and modernization of business applications and distributed infrastructure have been the hallmarks of the digital-first era, which also significantly increases the attack surfaces for cyber threats,” said James Sivalingam, senior program manager at IDC Asia/Pacific. “Southeast Asian businesses will be turning to trusted security partners for advice, implementation, and management of security operations to improve their security posture.”
Respondents to the survey consider network security as the top security focus in the coming days.
“As organizations adopt more distributed and diverse IT setups, network security becomes a critical imperative,” IDC said.
Cloud security comes in second meaning that most of the organizations in the region have adopted and progressed in their cloud transformation journey. They are now setting their efforts to securing data and workload on the cloud.
Quoting its Future Enterprise Resiliency and Spending Survey 2022, Wave 4 (May 2022), IDC said 67% of organizations in SEA have stated they are making at least some changes to their IT strategies due to digital sovereignty concerns.
IDC defines digital sovereignty as the capacity for digital self-determination by states, companies, or individuals.
Digital sovereignty is emerging as another concern among organizations which is prompting them to take steps to ensure greater business resilience.
“By taking greater control over the underlying technologies that power their operations and digital assets, such as data, infrastructure, and software, organizations in Southeast Asia are seeking to safeguard business continuity,” adds Sivalingam.
According to IDC, regulations around data ownership and control emerged as one of the key factors that will influence organizations’ technology investments and partnerships due to digital sovereignty concerns.
“Additionally, due to the same concerns, businesses in the region have indicated preference for local or national vendors, potentially providing new opportunities for local vendors,” IDC said. “As a result, these vendors may need to expand and scale their capabilities considerably to address the increased market need.”