Cloud Computing growth sees rise in need for network security

Virtualization and the popularity of cloud computing show numerous challenges for enterprise networks; threat exposure is one of them. Owing to the spurt in security requirements, the Asia-Pacific network security market grew by a healthy 5.7 percent in 2012 year-on-year (YoY) and 7.0 percent on quarter-on-quarter (QoQ) in Q2 2012. New analysis from Frost & Sullivan, Asia-Pacific Network Security Market, finds that the market earned revenues of US$2.16 billion in CY 2012 and estimates this to reach US$3.62 billion in 2018. Analysts say with Asia-Pacific’s economy racing ahead, the region is teeming with opportunities for IT developers and consequently, network security technology vendors. Further, they state an escalation in the volume of data in enterprises is compelling companies to find ways to secure their environment. Enterprises are becoming more concerned about the rising incidence of cyber attacks as they not only cause significant financial losses, but also attract negative publicity. The recent BYOD trend, while offering flexibility in business, has created several vulnerable spots in the network for hackers to attack.