Malaysia Cybersecurity Market Introduction and Overview
According to SPER Market Research, the Malaysia Cybersecurity Market is estimated to reach USD 4.53 billion by 2033 with a CAGR 17.05%.
The report includes an in-depth analysis of the Malaysia Cybersecurity Market, including market size and trends, product mix, distribution channels, and supplier analysis. Cybersecurity is the process of protecting an entire digital network, which includes hardware, software, and data. It comprises a variety of tactics, such as network security, data security, cloud security, and others, to protect end users' personal information from cyber phishing attempts and keep it safe for the appropriate authorities/personnel.
- In April 2022, IBM Malaysia Sdn Bhd and Tech Mahindra announced a cooperation to expand the cybersecurity services accessible to Malaysian organisations, such as managing security compliance and improving commercial information systems. As part of this relationship, Tech Mahindra and IBM will co-develop innovative products and services while also improving existing ones. Guardium, Cloud Pak for Security, and QRadar XDR are some of the available options.
- In February of 2022, SecIron and Cybersecurity Malaysia (CSM) have forged a strategic relationship to raise awareness among Malaysian businesses about the importance of mobile application and Internet of Things system security. Section and CSM will work closely together to promote industry best practices for businesses to mitigate the impact of cyberattacks and raise awareness about mobile application security and data protection.
Market Opportunities and Challenges
Opportunities: The increased adoption of cloud computing, known for its powerful and flexible architecture, is opening up fresh opportunities in the cybersecurity business. Organisations are increasingly turning to cloud solutions for easier data storage and access to sophisticated computing capabilities over the internet. The move allows for more effective application administration and advanced analytics. Additionally, the integration of the cloud with technologies such as software-defined perimeters improve platform security. The increased emphasis on cloud security is fueled by specific government guidelines and laws, which contribute to the growth of the cybersecurity market. SMEs, in particular, are migrating to cloud-based platforms such as SaaS and IaaS. The transition, however, makes them more exposed to cyberattacks because standard security approaches are ineffective in cloud systems.
Challenges: Lack of Qualified Cybersecurity workers: The Malaysian market is seeing a scarcity of skilled cybersecurity workers, which is making talent more competitive. This scarcity presents a big obstacle for companies trying to build and keep strong cybersecurity capabilities. Additionally, the complexity of cyber-attacks is rising. Cyber dangers are getting more sophisticated and complicated. Because attackers are always changing their tactics, it is difficult for organisations to stay ahead of the curve and put effective responses in place. Furthermore, Financial Restraints: It can be difficult for many organisations to allocate enough funds for cybersecurity. Their inability to purchase cutting-edge security services and solutions may be due to a lack of funds.
Market Competitive Landscape
The Malaysian cybersecurity market is somewhat consolidated, with a few big players. To increase market share, the corporations continue to engage in strategic partnerships and product development. Key market players are LGMS, Wizlynx Group, Securemetric, Akati Sekurity, IBM Corporation, Cisco Systems Inc, AVG Technologies, Nexagate, Capgemini, Ishan Tech.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Offering, By Deployment Mode, By End User
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| Regions covered | Eastern, Northern, Southern, Western, Central
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| Companies Covered | LGMS, Wizlynx Group, Securemetric, Akati Sekurity, IBM Corporation, Cisco Systems Inc, AVG Technologies, Nexagate, Capgemini, Ishan Tech.
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COVID-19 Impact on Malaysia Cybersecurity Market
Since the COVID-19 epidemic, nation-state cyber activity has increased in severity and intensity as a result of the old methods of gathering intelligence and knowledge being rendered impractical by social distancing conventions. Moreover, since the coronavirus-caused lockdown, there has been a significant rise in cyberattacks directed at businesses, which has mostly led to an increase in the need for reliable cybersecurity experts and solutions.
Key Target Audience:
- Large Enterprises
- Small and Medium Enterprises (SMEs)
- Financial Institutions
- Educational Institutions
- IT and Technology Companies
- Healthcare Providers
- E-commerce Platforms
- Telecommunication Providers
- Critical Infrastructure Operators
- Cybersecurity Service Providers
Our in-depth analysis of the Malaysia Cybersecurity Market includes the following segments:
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By Offering:
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Security Type
Services
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By Deployment Mode:
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Cloud
On-premises
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By End User:
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BFSI
Healthcare
Manufacturing
Government & Defense
IT & Telecommunications
Other
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Key Topics Covered in the Report:
- Malaysia Cybersecurity Market Size (FY’2024-FY’2033)
- Overview of Malaysia Cybersecurity Market
- Segmentation of Malaysia Cybersecurity Market By Offering (Security Type, Services)
- Segmentation of Malaysia Cybersecurity Market By Deployment Mode (Cloud, On-premises)
- Segmentation of Malaysia Cybersecurity Market By End User (BFSI, Healthcare, Manufacturing, Government & Defense, IT & Telecommunication, Other)
- Statistical Snap of Malaysia Cybersecurity Market
- Expansion Analysis of Malaysia Cybersecurity Market
- Problems and Obstacles in Malaysia Cybersecurity Market
- Competitive Landscape in the Malaysia Cybersecurity Market
- Impact of COVID-19 and Demonetization on Malaysia Cybersecurity Market
- Details on Current Investment in Malaysia Cybersecurity Market
- Competitive Analysis of Malaysia Cybersecurity Market
- Prominent Players in the Malaysia Cybersecurity Market
- SWOT Analysis of Malaysia Cybersecurity Market
- Malaysia Cybersecurity Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Malaysia Cybersecurity Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Malaysia Cybersecurity Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Malaysia Cybersecurity Market
7. Malaysia Cybersecurity Market, By Offering (USD Million) 2020-2033
7.1. Malaysia Cybersecurity Market Size, Share and Forecast, By Offering, 2020-2026
7.2. Malaysia Cybersecurity Market Size, Share and Forecast, By Offering, 2027-2033
7.3. Security Type
7.3.1. Cloud Security
7.3.2. Data Security
7.3.3. Identity Access Management
7.3.4. Network Security
7.3.5. Consumer Security
7.3.6. Infrastructure Protection
7.3.7. Other Types
7.4. Services
8. Malaysia Cybersecurity Market, By Deployment Mode (USD Million) 2020-2033
8.1. Malaysia Cybersecurity Market Size, Share and Forecast, By Deployment Mode, 2020-2026
8.2. Malaysia Cybersecurity Market Size, Share and Forecast, By Deployment Mode, 2027-2033
8.3. Cloud
8.4. On-premises
9. Malaysia Cybersecurity Market, By End User (USD Million) 2020-2033
9.1. Malaysia Cybersecurity Market Size, Share and Forecast, By End User, 2020-2026
9.2. Malaysia Cybersecurity Market Size, Share and Forecast, By End User, 2027-2033
9.3. BFSI
9.4. Healthcare
9.5. Manufacturing
9.6. Government & Defense
9.7. IT & Telecommunications
9.8. Other
10. Malaysia Cybersecurity Market Forecast, 2020-2033 (USD Million)
10.1. Malaysia Cybersecurity Market Size and Market Share
11. Malaysia Cybersecurity Market, By Region, 2020-2033 (USD Million)
11.1. Malaysia Cybersecurity Market Size and Market Share By Region (2020-2026)
11.2. Malaysia Cybersecurity Market Size and Market Share By Region (2027-2033)
11.3. Eastern
11.4. Northern
11.5. Southern
11.6. Western
11.7. Central
12. Company Profile
12.1. LGMS
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. Wizlynx Group
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Securemetric
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Akati Sekurity
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. IBM Corporation
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Cisco Systems Inc
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. AVG Technologies
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Nexagate
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Capgemini
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Ishan Tech
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
