We’ve just released our latest report, outlining the opportunities for UK tech companies in Asia’s cybersecurity sector, particularly in industries such as manufacturing, automotive and healthcare. You can download it for free, here.
The growing adoption of digital technologies, coupled with a sharp rise in cyber threats, is fuelling demand for advanced cybersecurity solutions in Japan, South Korea, and Taiwan.
The report examines the market for and factors influencing cybersecurity in the three Asian nations. It also highlights specific areas of opportunity for UK companies with relevant expertise and gives advice on entering each market.
We’ve written this report as part of the UK-APAC Tech Growth Programme, the initiative we’re running on behalf of the UK government to help UK companies scale in the APAC region.
Click the image below to access the report for free:
Japan
The report highlights that Japan’s cybersecurity market, currently ranked 16th in size globally, is projected to reach £6.2 billion by 2027. Hindered by low investment levels, outdated systems and a shortage of cybersecurity professionals, Japanese corporations are heavily reliant on overseas expertise to combat a rising number of cyberattacks.
Specific requirements vary by sector and our report highlights particular opportunity areas in healthcare and manufacturing.
South Korea
One of the world’s most digitally advanced nations, Korea faces an escalating number of cyberthreats. In response, the Ministry of Science & ICT (MSIT) recently launched a ‘Strategy to Secure Global Competitiveness in the Information Security Industry.’ As part of this, the MSIT aims to grow its cybersecurity market to £6 billion by 2027.
While it is keen to boost its domestic cybersecurity expertise, it is also seeking international collaboration and experience, particularly in the automotive, manufacturing and telecommunications sectors.
Taiwan
Given its pivotal role in the global semiconductor industry, cybersecurity is of critical importance to Taiwan and the market is expected to be worth £785 million by 2027. While it already boasts a strong domestic cybersecurity sector, UK expertise in threat intelligence, cybersecurity training and the development of advanced security systems is highly sought after by Taiwanese businesses.
Sam Leng, Senior Manager from our Taipei office and one of the report's authors, commented: “Japan, South Korea and Taiwan present significant opportunities for UK cybersecurity businesses.
“Each market requires UK expertise and its corporations are seeking commercial collaborations. However, entering these markets necessitates an approach that’s sensitive to local business cultures. For instance, in Japan, companies often begin by working with agents and distribution partners before establishing a local presence. And in Korea, navigating the complex regulatory framework is much easier with a well-established partner. Through the UK-APAC Tech Growth Programme, we can help UK businesses understand these market dynamics, ensuring they adopt the most effective entry strategies.”
The UK-APAC Tech Growth Programme is an initiative we’re running on behalf of the UK Government to help high-growth technology firms expand in the Asia Pacific region. We offer participating companies access to free and subsidised market entry guidance, business development support and connections with potential partners and customers across 11 APAC markets including Japan, South Korea and Taiwan.
To find out more about the programme, click here.