In a rapidly digitising landscape, Asia is facing an onslaught of cyber threats. But innovation and resilience is helping the region set new standards in cybersecurity.
Cybersecurity often lurks in the shadows—essential yet frequently overlooked. However, its significance cannot be understated. The recent CrowdStrike incident serves as a stark reminder: a single buggy update brought millions of systems worldwide to a halt. Had a malicious actor been involved, the fallout could have been catastrophic.
While its role is crucial, the public often misunderstands cybersecurity. At its core, it’s about four things: protection, detection, recovery, and compliance. And while it may not always grab headlines, it’s a booming industry, especially in Asia. Mordor Intelligence projects that the Asia Pacific’s cybersecurity market will hit US$124.05 billion by 2029, up from US$65.28 billion in 2024, driven by the rapid digitisation of businesses and the proliferation of connected devices.
APAC was the most attacked region globally in 2022 and only ceded that top spot to Europe in 2023, according to the IBM X-Force Threat Intelligence Index. Still, it remains one of the most targeted areas, accounting for 23 per cent of global cyber incidents in 2023. As digital transformation accelerates across Asia, the region’s networks and emerging technologies are prime targets for cybercriminals.
Protection: Strengthening digital defences
Protection is the frontline in cybersecurity, and businesses across Asia are getting creative with their strategies—they are embracing artificial intelligence, machine learning, and other advanced technologies to safeguard critical infrastructure. The key reason? A surge in IoT and machine-to-machine (M2M) connections, which has further driven the need and demand for robust cybersecurity solutions.
Singapore, a key player in Southeast Asia’s business ecosystem, has shown that a proactive approach can work. The Cybersecurity Agency of Singapore (CSA) reported a 3.6 per cent drop in ransomware cases in 2022, even as incidents climbed globally. The agency attributes this success to its focus on cyber hygiene and enhanced detection systems. Accordingly, Singapore’s example proves that investing in preventive measures and strong defence strategies can lower the risk of cyberattacks.
Detection: Timely identification of threats
As cyber threats grow increasingly complex, the urgency for real-time detection is growing by the day. Across Asia, companies are turning to advanced systems in a race to catch vulnerabilities before they’re exploited. But the sheer volume of threats is staggering. Vectra AI’s 2023 threat detection report reveals that nearly 71 per cent of security operations centre (SOC) analysts admit their organisations may already be compromised—and they just don’t know it yet. Worse still, over two-thirds of SOC alerts are likely being ignored each day, simply because teams are overwhelmed by the relentless flood of alerts.
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The IBM X-Force 2024 report paints an even starker picture: the use of infostealers surged by 266 per cent, as attackers pivoted from phishing to identity theft and the exploitation of stolen credentials. This shift means cybercriminals are increasingly targeting personal data to breach systems. While phishing remains prevalent—Singapore reported 8,500 phishing attempts in 2022—the 44 per cent drop in phishing activity globally points to more sophisticated attack methods. It’s a reminder that detection systems must evolve as tactics do.
Recovery: Reducing the impact of cyber breaches
Once a breach occurs, swift recovery is essential. According to an IBM report, the global average cost of a data breach has climbed by 10%, reaching USD 4.88 million in 2024. With businesses becoming increasingly reliant on digital infrastructure, their ability to recover swiftly from attacks will make or break them.
Countries like Vietnam, Indonesia, and Thailand have seen sharp rises in ransomware incidents, with Thailand reporting over 109,000 incidents in 2023, according to Kaspersky. This escalation underscores the urgent need for recovery strategies that prioritize data encryption and rapid service restoration. For industries like manufacturing and finance, which are often in the crosshairs of cybercriminals, these efforts are vital to limit both financial and operational damage.
Compliance: Proactive with regulation and oversight
Compliance has become a cornerstone of cybersecurity in Asia—and for good reason: it works. Governments across the region are stepping up with tougher policies to ensure businesses meet the highest data protection standards. Singapore, again, stands out as a model for how proactive oversight can drive real results. The CSA reported a 13 per cent drop in infected systems in 2022, thanks to a mix of strong regulatory frameworks, a dedicated code of practice, and various programs that keep the nation’s digital defences sharp.
Meanwhile, China is following a similar path, tightening control over data flows and cybersecurity practices. New regulations are forcing companies to adopt stronger compliance measures, not just to avoid penalties but also to align with broader cybersecurity strategies. Across Asia, businesses must therefore be proactive about exploring compliance frameworks—doing so will help them remain resilient and secure in an increasingly complex digital landscape.
Cybersecurity in Asia has shifted from just being a protective measure to something much bigger—anticipating what’s next. The region’s cybersecurity market is set for rapid expansion, and with cybercrime damages predicted by research firm Cybersecurity Ventures to hit USD 10.5 trillion globally by 2025, the stakes are higher than ever. Vigilance and innovation aren’t just needed—they are essential.
At GITEX Asia 2025, the brightest minds in cybersecurity will gather to showcase cutting-edge solutions and discuss strategies for navigating the future of digital defence. Join us from April 23–25, 2025, at Marina Bay Sands, Singapore, and be part of the conversation shaping the next wave of cybersecurity innovation.
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