Vulnerability management in the Asia-Pacific region has become more important as organisations look to protect themselves against high-profile cyber threats.
This is according to new research by Frost & Sullivan, which revealed this trend has seen spending on the distributed denial of service (DDoS) protection market surge.
The organisation’s data found the market earned revenues of US$117.2 million (AU$130.5 million) last year, but this is estimated to rise to US$327 million by 2016.
ICT research analyst at Frost & Sullivan Vu Anh Tien said DDoS protection is seen as a “necessity” for businesses, with downtime resulting in failed transactions and revenue losses.
“Businesses’ growing dependence on the internet and web-based applications has compelled them to enhance their security set-up and adopt DDoS protection solutions,” he said.
The banking, financial services and insurance industries are increasing their spend on security the most, Frost & Sullivan said, with attacks also growing in sophistication.
However, one impediment to DDoS uptake is the perception that it is an inferior technology, particularly in Australia and New Zealand.
Vendors must educate businesses on the importance of comprehensive and cost-effective solutions, Frost & Sullivan advised.
“The emerging cloud and mobile computing trends will speed up the adoption of secure content management, and offer immense opportunities for the market’s growth and expansion in Asia-Pacific,” Mr Anh Tien concluded.