14 DAY TRIAL // Technology market intelligence firm ABI Research believes that the current $4.9 billion (€3.8 billion) cyber security market in China could double by 2017, despite the fact that the country embraces a protectionist economy that prevents many foreign companies from penetrating the market.
According to a new report, “Internet and Mobile Security in China,” the cyber security market is growing at a rapid pace in China. The economic and political system are favorable for its growth,
While it’s true that Chinese companies have an advantage over foreign organizations, the market is “brutally competitive and distorted,” ABI Research notes.
That’s because most of the domestic firms are not so advanced from a technology and innovation viewpoint compared to foreign companies.
“As the market for Internet and mobile security products matures, especially on the consumer end, the demand for quality solutions and the focus on the end-user experience will become more important,” says Michela Menting, senior analyst.
The complete report is available here (registration required).