According to Ken Research, Indonesia’s cybersecurity market is on a swift ascent, projected to reach approximately US$917.9 million by 2028. This growth, at a CAGR of 9.3% from 2023 to 2028, marks a significant shift in the digital security sector, driven by escalating cyberthreats and the rapid digitalisation of industries.
Ken Research highlights that Indonesia’s cybersecurity landscape is undergoing rapid evolution, fuelled by Digital Transformation across various sectors. Factors such as the rise of SMEs, increased regulatory compliance and strategic R&D investments are key drivers of this growth.
The escalating cyberthreats are pushing the demand for robust cybersecurity solutions. Services like SIEM, particularly in the banking and financial sectors, are essential for maintaining data confidentiality. These services, including cloud security and endpoint protection, are crucial in safeguarding Indonesia’s digital infrastructure.
Predominantly, the BFSI sector, along with FinTech and e-commerce, are leading the demand for advanced cybersecurity solutions.
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