Strong encryption supports Internet-mediated markets worth USD800 billion in Asia-Pacific, says Analysys Mason
A new study, published by Analysys Mason in November 2016, examines the importance of strong encryption in 11 countries in the Asia–Pacific region: Australia, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Thailand and Vietnam.
In Asia–Pacific and globally, a safe and secure Internet is critical in driving economic and social transformation. Strong encryption is essential to achieving this safety and security, and drives the trust required for consumers and firms who do business online.
In the 11 countries in focus, the study quantifies the size and growth of five major service categories (e-commerce, the Internet of Things, corporate WANs, public cloud services and business process outsourcing). We find that revenues for these services, which rely heavily on strong encryption, are expected to double over the next five years, exceeding USD800 billion by 2020 in the focus countries.
David Abecassis, Partner at Analysys Mason, said: “Our new research provides a perspective on the size of the markets that rely on strong encryption for the trust of their users and their future growth. Beyond the commercial opportunity for service providers, this huge value forms an important part of the perspective policy makers should take in considering their stance towards encryption.”
Governments and policy makers play an important role in promoting, using and, in some cases, regulating the use of strong encryption. As the report shows, countries at the forefront of the digital economy (e.g. Australia and Singapore) are encouraging the use of strong encryption across the board, within public- and private-sector organisations.
Continued growth in all sectors of the digital economy requires people, firms and governments to continue investing in digital security supported by strong encryption. In this context, policy makers should consider the extent to which policy, laws and regulations are compatible with the requirements of the people and businesses who use encryption.
The study, available for free at http://report.analysysmason.
For more information, contact the Press Office on press@analysysmason.com