Cybersecurity is the process of preventing unauthorised access to networks, systems, and applications, as well as online or digital threats. There are numerous ways for combating cybercrime, including critical infrastructure security, network security, application security, cloud security, disaster recovery/business continuity planning, storage security, and others. Furthermore, because organisations collect, store, and use a large amount of private data online, cybersecurity is a top priority for businesses, as well as military, financial, and healthcare organisations.

Drivers: The expansion of the e-commerce industry drives market growth. Malaysia's population has continually increased their access to the internet. According to the World Bank, internet penetration will reach over 97% in 2022, up from 84% in 2019. Thus, with the increasing usage of the internet, smartphones, tablets, computers, and so on, inhabitants of the country are gradually incorporating e-commerce services into their daily life due to ease and the range of possibilities accessible. Furthermore, the Malaysian government has been supportive of digitization in the country and is undertaking a number of programmes to strengthen the e-commerce sector. Examples include programmes to improve digital infrastructure and initiatives to make online transactions more efficient.

Challenges: Shortage of Skilled Experts to Limit Market Growth and Expansion: Cybersecurity is regarded as a highly technological sector requiring highly qualified personnel who can advance and apply their knowledge to the ever-increasing significant cyber threats and cyber-attacks. However, in Malaysia, the lack of a highly skilled workforce has hampered industry expansion. According to the Malaysia Communication & Digital Ministry, the country would have approximately 15,248 identified cybersecurity workers in 2023, falling short of the necessary 27,000 by 2025. The market has unable to overcome an over 12,000-expert disparity. This gap impedes the complete cybersecurity operational process, including the implementation of solutions and services, as well as periodic testing and maintenance.

The Malaysian cybersecurity market expanded rapidly following the country's COVID-19 pandemic outbreak. Furthermore, as a result of the COVID-19 epidemic, nation-state cyber activity has grown in scope and intensity, as traditional ways of obtaining intelligence and knowledge are no longer possible due to social norms that urge distance. Furthermore, during the coronavirus shutdown, the number of cyberattacks against businesses increased considerably, resulting in a surge in demand for qualified cybersecurity professionals and dependable solutions.

The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are LGMS, Wizlynx Group, Securemetric, Akati Sekurity, IBM Corporation, Cisco Systems Inc, AVG Technologies, Nexagate, Capgemini, Ishan Tech.

By Offering: Based on the Offering, Malaysia Cybersecurity Market is segmented as; Security Type, Services.

By Deployment Mode: Based on the Deployment Mode, Malaysia Cybersecurity Market is segmented as; Cloud, On-premises.

By End User: Based on the End User, Malaysia Cybersecurity Market is segmented as; BFSI, Healthcare, Manufacturing, Government & Defense, IT & Telecommunication, Other.

By Region: This research includes data for Eastern, Northern, Southern, Western, central.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.