Demand for cybersecurity in Asia presents opportunities for UK tech, says report
Digital transformation accelerates region’s need for protection from cyberattacks
The growing adoption of digital technologies, coupled with a sharp rise in cyber threats, is fuelling demand for advanced cybersecurity solutions in Japan, South Korea, and Taiwan. This presents significant opportunities for UK tech companies, particularly in industries such as manufacturing, automotive and healthcare, according to a new report.
Commissioned as part of the UK-APAC Tech Growth Programme, the report examines the market for and factors influencing cybersecurity in Northeast Asia. It also highlights specific areas of opportunity for UK companies with relevant expertise and gives advice on entering each market. The report was produced by international business development consultancy Intralink on behalf of the UK government. It is available for free download here with a summary below.
Japan
The report highlights that Japan’s cybersecurity market, currently ranked 16th in size globally, is projected to reach £6.2 billion by 2027. Hindered by low investment levels, outdated systems and a shortage of cybersecurity professionals, Japanese corporations are heavily reliant on overseas expertise to combat a rising number of cyberattacks.
Specific requirements vary by sector. For instance, the healthcare field requires encryption tools, advanced threat detection and access management solutions. In manufacturing, the increasing adoption of cloud computing, the Internet of Things, artificial intelligence and automation are driving demand for operational technology cybersecurity solutions.
South Korea
One of the world’s most digitally advanced nations, Korea faces an escalating number of cyberthreats. In response, the Ministry of Science & ICT (MSIT) recently launched a ‘Strategy to Secure Global Competitiveness in the Information Security Industry.’ As part of this, the MSIT aims to grow its cybersecurity market to £6 billion by 2027. While it is keen to boost its domestic cybersecurity expertise, it is also seeking international collaboration and experience, particularly in the automotive, manufacturing and telecommunications sectors.
Taiwan
Given its pivotal role in the global semiconductor industry, cybersecurity is of critical importance to Taiwan and the market is expected to be worth £785 million by 2027. While it already boasts a strong domestic cybersecurity sector, UK expertise in threat intelligence, cybersecurity training and the development of advanced security systems is highly sought after by Taiwanese businesses.
Sam Leng, Senior Project Manager at Intralink and one of the report’s authors, commented: “Japan, South Korea and Taiwan present significant opportunities for UK cybersecurity businesses."
"Each market requires UK expertise and its corporations are seeking commercial collaborations. However, entering these markets necessitates an approach that’s sensitive to local business cultures. For instance, in Japan, companies often begin by working with agents and distribution partners before establishing a local presence."
"And in Korea, navigating the complex regulatory framework is much easier with a well-established partner. Through the UK-APAC Tech Growth Programme, we can help UK businesses understand these market differences and dynamics, ensuring they adopt the most effective entry strategies.”
The UK-APAC Tech Growth Programme helps high-growth technology firms expand in the Asia Pacific region. It offers participating companies access to free and subsidised market entry guidance, business development support, and connections with potential partners and customers across 11 APAC markets including Japan, South Korea and Taiwan.
UK technology firms interested in expanding into these markets can apply to join the programme at: www.intralinkgroup.com/TGP
About Intralink
Intralink is a business development consultancy specialising in international markets. It helps companies secure customers, partners and investors overseas; it enables corporates to thrive through global collaboration; and it helps governments to grow their exports and attract foreign investment. Founded in 1990, the company has more than 20 locations including Shanghai, Beijing, Tokyo, Seoul, Taipei, Singapore, Silicon Valley, LA, Boston, Washington, Toronto, Oxford, London, Paris, Düsseldorf, Helsinki, Poznan and Tel Aviv. See more at www.intralinkgroup.com.
For more information, interviews, or images, please contact:
Rebecca George, TK Associates
[email protected] | 07974 161108