Indonesia Cybersecurity Market is projected to grow at a CAGR of 22.5% during the forecast period, 2023-2030.

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Major Indonesia Cybersecurity Market Drivers

Indonesia is growing economy with rising investment for IT infrastructure and increasing penetration of internet. The country is adopting advanced ICT but cyber threats also increased, which led to increasing need of cybersecurity solutions with the rising number of IoT connections across the country. As per the National Cybersecurity Index 2023, Indonesia hold 47th rank, 24th rank in global cybersecurity index and 111th in ICT development index. Indonesia cybersecurity market is still at a growing stage in terms of government regulations, strategy development and international collaborations.  The government has launched various programs such as cyber threat intelligence program to protect from cybercrime in Indonesia.  As per the National Cyber and Crypto Currency, the cyberattacks cases has been increased from 232 million in 2018 to  290 million in 2019. Similarly, Criminal Investigation Agency of Indonesia police also reported increase in cybercrimes in 2019 as compared to 2018.

Indonesia cybersecurity market is driven by the increasing number of cyberattacks and rising popularity of e-commerce platforms in Indonesia. With the rapid expansion of internet penetration, the demand for cybersecurity solutions is predicted to increase in future. In 2022, Indonesia has blocked Yahoo search engine and PayPal and other websites for violating the laws and to safeguard the internet users across the Indonesia. In addition, increasing cyber security complexity along with the rising proliferation of IoT is boosting cybersecurity market across Indonesia. The need of cybersecurity becoming popular due to the increasing wireless networks for mobile devices and rising data vulnerability across various companies. Indonesia government has been taking various initiatives and related regulations to improve cyber security which is further projected to increase adoption of cybersecurity solutions in near future. For example, regulations for cybersecurity such as law no. 11 on Electronic Information an Transactions, law no. 17 on National Intelligence, government regulation on implementation of cybersecurity in electronic systems & transactions, among others. With the growing data breaches and cyber threats, the cybersecurity has become major concerns in developing countries like Indonesia. For example, Indonesia signed an partnership agreement with Kaspersky to strengthen the cybersecurity capabilities and to provide the cybersecurity solutions to combat against increasing internet threats. In first quarter of 2022, Kaspersky identified and prevented approx. 11 million cyber threats in Indonesia.

During the COVID-19, Indonesia digital transformation has been accelerated due to social restriction imposed by PSBB because of the change in the consumer behaviour. The Ministry of Communication and Informatics estimated 40% more internet users has been increased because of the social restriction during March 2020 to April 2020. In addition, 70% of users has used new digital services such as online learning, online grocery and work from home software which increases internet traffic and led to the more cases of cyberattacks in Indonesia. For instance, 88 million cases were reported related to the malware attacks, phishing attempt and gathering information during January to April 2020.

Increasing adoption of digital payment and fintech solutions coupled with rising concerns regarding data security is further paving way for cyber security market in Indonesia. Rapid adoption of cybersecurity solutions across various sectors such as telecom, agriculture, banking, retail, logistics, among others. Increased government focus towards digitization is propelling the market growth. The Indonesia government has introduced various initiatives such as Go Digital Vision 2020 to provide support to SMEs. Rising ransomware and malware attacks is further boosting the market growth. For instance, BI, central bank of Indonesia was hit by the ransomware attacks in 2022. However, lack of skilled cybersecurity professionals is hampering the Indonesia cyber security market. In addition, lack of awareness in IT security and fragmented cyber laws is further hindering the market growth.

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Deployment Mode – Segment Analysis

Based on the Deployment mode, cloud segment is expected to grow over the forecast period owing to the increasing adoption of cloud-based services and growing demand for on-demand security services. With the increasing use of cloud-based services such as dropbox, google drive, among others has become important part of the business process is boosting the cloud market growth.

Vertical – Segment Analysis

Based on the vertical, BFSI segment is predicted to hold the largest market share in the Indonesia cyber security market due to the increasing use of cloud-based software and online payment platforms in BFSI sector.

Organization Size – Segment Analysis

Based on the organization size, small and medium–sized enterprises is anticipated to register higher growth in upcoming years due to the rising prevalence of hybrid working culture has increased the cyber risks. In addition, lack of security policies because of the budget constraints is further enhanced the demand for cybersecurity across SMEs.

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Segments covered in the Report:

The Indonesia Cybersecurity Market has been segmented on the basis of security type, deployment mode, organization size, and vertical. Based on security type, the market is segmented into network security, endpoint security, cloud security, internet security, and others. Based on the deployment mode, the market is segmented into on-premises and cloud. Based on organization size, the market is segmented into SMEs and large enterprises. Based on the vertical, BFSI, government and defence, energy and utilities, healthcare, IT and telecommunication, retail, manufacturing, and others.

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Market Segmentation

Indonesia Cybersecurity Market by Security Type

• • Network Security
  • Endpoint Security
  • Cloud Security
  • Internet Security
  • Others

Indonesia Cybersecurity Market by Deployment Mode

• • On-Premises
  • Cloud

Indonesia Cybersecurity Market by Vertical

• • BFSI
  • Government and Defence
  • Energy and Utilities
  • Healthcare
  • IT and Telecommunication
  • Retail
  • Manufacturing
  • Others

Indonesia Cybersecurity Market by Organization Size

• • SMEs
  • Large Enterprises