Equinix said in a survey of over 2500 IT leaders across 26 countries expect a change in how and where the employees work. 60% of digital leaders in Asia-Pacific believe there will be long-term changes. 57% of the companies have rebuilt their IT infrastructure for hybrid work environments. 60% of companies prioritise expansion into new regions despite covid. In Asia-Pacific, 46% of companies have stepped up their tech improvement.
IDC predicts that spending on security products and services in Asia-Pacific is expected to hit $23.1 bn in 2021, a 12.6 % rise YoY. The investments to grow at a five-year CAGR of 13.3 % over the forecast period (2019-24) and touch $35 bn by 2024. Australia and India, together, will drive the market and account for 26 % of the overall spending in the region. The two countries have a large number of enterprises catering to domestic and international clients.
About 3.1 mn cybersecurity position, mostly in the Asia-pacific region, are lying across the globe, said a report by Michael Page India. The report said that 19 mn ransomware and phishing attacks were identified in the region during Feb-May 2020, most of them were COVID-19 theme while overall cybercrime went up by 600%. The demand for cybersecurity professionals is short by 43% mostly for app development security, cloud security. threat intelligence, data privacy.
The spending on AR/VR would grow at a CAGR of 47.7% to reach $28.8 bn by 2024, according to IDC. China will have the largest AR/VR spending in the Asia/Pacific region having a 90% share in 2020. The use of AR/VR in Edu, retail and discrete manufacturing accounts for 50% of the commercial sector in 2020. VR games are the leading users with more than one-third of AR/VR tech market in 2020. This is followed by training and video/feature viewing (VR) use cases.
India is most vulnerable to ransomware attacks in the APAC region with 74% of companies have suffered such cyberattacks, as compared to 67% in Australia, 52% in Japan and 46% in Singapore, said a survey. Indian companies have suffered a loss of $1-2.5mn due to malware attacks including phishing. Over 90% of Indian firms feel threatened by hacking groups, 77% of hacktivists and 66% of insider threat and 64% of nation-states threat.
Cyberattacks originating form China has become a significant cause of concerns for India firms. The country, in the Asia Pacific, topped the chart of ransomware attacks as 74% of firms have come under attack, as per global security firm CrowdStrike. The finding also includes the loss of $1-$2.5 mn to Indian firms due to malware attacks last year. Ransomware, phishing, password attacks are major concerns as 90% of organisations were threatened by e-crime and 77% by hacktivist.
The Indian GCC market size, as of 2019, is approx. $28.3B with over 1,750 centres and 1M employees. Currently, almost 50% of all GCCs are located in India, mainly in Maharashtra, Delhi NCR, Tamil Nadu etc; 180 of these are also innovation centres. Over 75% of India-based GCCs are investing across analytics, cloud migration, and RPA and over 50% in AI, ML and IoT. 70% of India GCCS belong to the US, 20% to Europe, 10% to the Asia-Pacific region.