Home Wi-Fi security system facilitates the user to operate security system through electronic devices including tablets, smartphones, laptop, etc. with enabled Wi-Fi system. Wi-Fi security solutions typically prevents unauthorized access to computer data by using a wireless network. Home Wi-Fi security systems protect the connected devices from malwares, viruses, and other cyber-attacks. Wired equivalent privacy (WEP) and Wi-Fi protected access are commonly used security protection for wireless networks. However, WEP is often regarded as weak security network and can be hacked with basic laptop and software tools. WAP utilizes an encryption device, encrypting the network with 256-bit key that strengthens the password. The APAC Home Wi-Fi Security Solutions market is estimated to account for US$ 10,748.5 Mn in terms of value by the end of 2019 Market Dynamics- Driver
Growing adoption of electronic wireless payment services and payment options such as e-wallets and IoT-enabled devices has increased vulnerabilities. Moreover, commonly solutions to deal with these threats are proved to be inadequate, thus leading to increasing demand for cybersecurity. Wireless network service providers and enterprises are upgrading their systems and adopting next-generation technology to cover all bases, endpoints, networks, and cloud. This, in turn, is expected to propel the market growth in the near future. For instance, in 2015, the Government of India announced the establishment of Botnet Cleaning Center, in order to tackle the severe challenge of Botnet in India. The said institution is expected to be established by the end of 2016, which will strengthen the cyber security infrastructure in India. Market Opportunities
Growing number of IoT users has increased the cases of exposure to home hacking with variety of situations where IoT devices can be compromised. This, in turn, has increased the demand for IoT security services. Moreover, a large pool of population coming online is expected to increase the challenges regarding malicious intrusions. This, in turn, is expected drive demand for robust security solutions and thereby propel the market growth in the near future. For instance, according to statistics by GSM Association, the IoT devices market is expected to witness growth of 50% from 2017-2027. Market Restraints
Although governments of various countries are undertaking initiatives to increase the penetration of internet, they often lose the initial grip and stagnate at some point. This is primarily due to lack of political determination and bureaucratic delays, which leads to slow implementation of said initiatives. In some cases, it had led to complete termination of such projects. Key Takeaways
APAC Hardware based Home Wi-Fi Security Solutions market was valued at US$ 9,113.0 Mn in 2018 and is forecast to reach a value of US$ 27,730.3 Mn by 2027 at a CAGR of 13.4% between 2019 and 2027 Significant growth of IoT market in India has led to increased demand for security solutions. Moreover, India is those major countries where major innovations are taking place around various verticals of IoT market. For instance, according to National Association of Software and Services Companies (Nasscom), IoT is expected to become a US$ 300 billion global industry with India estimated to account for 20% of the global share by 2020. This is owing to robust wireless connectivity at low cost, growing adoption of cloud in IT services, and rising trend of wearable technology applications.
Development of telecommunications infrastructure in Indonesia has witness constant growth in the recent past. There are large number of alternative services that provide high-speed internet access for consumer across the nation. For instance, according to Indonesia Internet Service Provider Association (APJII) statistics, in 2015, total internet consumer base in the country was around 73 million. Moreover, fixed broadband internet services, even though in nascent stage, are steadily forming a significant proportion of consumer base in the country.
Growing awareness regarding cyber security and emergence of IoT are common trends in the market. The ICT market in Malaysia is gaining significant traction with introduction of IoT concept, opening new prospects for business. Moreover, IoT has found applications in various sectors such as transportation, logistics, and wearable devices. Furthermore, Malaysian government is frequently offering incentives such as pioneer status, tax exemptions, and more, to endorse IoT investments. Market Trends
Home security systems have evolved over the years with introduction of innovative products. Previously, there were problems regarding false alarm and rental units getting burglarized. However, latest products such as smartphone-compatible systems and plug-and-play devices have increased the demand for security solutions.
Cloud services are extensively being adopted in various industry verticals where these services provide storage and backup, framework for management, development of SaaS models and interface with public service providers. Standards & Regulations 802.11 Standards – This standard is introduced by Institute of Electrical and Electronics Engineers (IEEE) in support for secure WLAN deployments Department of Telecommunications (DoT) Regulations – The objective of DoT regulation is to ensure that public WiFi Internet access are not utilized for illegal purpose. Competitive Section Key players operating in the APAC home Wi-Fi security solutions market are Cujo LLC, KoalaSafe Inc., and Systems Solutions & Development Technologies Ltd. (SSD-Tech), Cisco System Inc., Panasonic Corporation, Luma Home Inc., Aruba Networks, Inc., Securifi, Keezel Inc., and others. Key Developments
Segmentation APAC home Wi-Fi security solutions market is segmented as below