Industry experts are seeing increased levels and sophistication in cyber attacks against companies. IT security firm Symantec recently released a report citing Asian companies experiencing a high number of attacks, with 3 out of 4 companies claiming to have experienced cyber attacks last year.
The increasing number of attacks is expected to see a resulting increase in the security software market as well, by as much as 20 percent in 2010.
“The prime consideration or prime reason for targeted attacks is financial gain, so the attackers are looking to expose confidential information and use that information for financial gain, or sell it on the underground economy for financial gain,” said Unmesh Deshmukh, Director, Endpoint Security Sales, Symantec Asia Pacific and Japan. “Do we expect this to go up in the future? The answer is yes, we do expect malicious activity to rise both in India and in China, and particularly in any country that is experiencing and internet or broadband boom.”
Companies in the Asian-Pacific region lost about $763,000 on average per year due to cyber attacks, according to the report. IDC forecasts the security software market to grow to $1.6 billion in the Asia-Pacific region not including Japan.
“In 2010, we see a higher growth rate because there was pent-up demand and there were a lot of critical projects that were delayed as a result of the crisis, but these are coming back. When the projects come back, security is a very key part of it,” said Daphne Chung, senior research manager, IDC.