© grzegorz kula dreamstime.com Business | June 27, 2013
Cyber security market in China could double by 2017
The Chinese market for cyber security is rapidly growing, highly lucrative, and potentially vast.
The Chinese economic and political system has proved favorable to the growth of a dynamic IT security market. The state has invested heavily in technologies, people and processes, and actively supports the domestic private sector in cyber security solutions. While the conditions are favorable to the emergence of an active cyber security sector, the players are not all competing on a level playing field. Government efforts to promote the market have provided an immense opportunity for the development of a highly specialized homegrown Internet and IT security market. However, China embraces a protectionist economy that places a significant barrier to entry for foreign firms to the advantage of Chinese companies. Yet even these seemingly favorable conditions for the Chinese domestic industry have not been able to restrain a brutally competitive and distorted market. Despite the barriers, market penetration is not impossible. The Chinese market is still nascent and domestic firms lag behind in technology development and innovative value. “As the market for Internet and mobile security products matures, especially on the consumer end, the demand for quality solutions and the focus on the end-user experience will become more important,” says Michela Menting, senior analyst. ABI Research estimates that market revenues totaled $4.9 billion in 2012 and could potentially double over the next five years. The report analyzes the trends and dynamics of the Internet and mobile security market in China.
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