The APAC cybersecurity market has grown so much over the years. In fact, Mordor Intelligence reported back in 2019 that the market was valued at around $30.45 billion and projected to increase even more in the next five years. This is all thanks to the cybersecurity sector’s role in protecting organisations and consumers from fraudulent activities and cyberattacks plus the pressing cybersecurity issues around the region. 

Cybersecurity market in APAC 

Speaking of cybersecurity issues, let’s try looking into the cases of data breaches in the region, one of the main driving forces of the market’s growth.For consumers, statistics reveal that roughly 40 percent has experienced personal data breaches, meanwhile businesses report around $2.72 million in revenue loss due to the same such data security issues. To respond, a lot of companies plan on increasing headcount. In fact, even with the eonomic impact of COVID-19, projections show a glimmer of home as the compound annual growth rate (CAGR) rises by 10.4 percent.  

The only problem is, the current talent pool of APAC cybersecurity professionals is nowhere near enough. In fact, the Asian market alone needs around 2.14 million cybersecurity practitioners. This gap can be attributed various factors including the relatively new IT infrastructures, mental stage of cybersecurity in the region, and the popularity of remote working.  

Most In-demand Cybersecurity Roles in APAC

Right now, the region needs a lot of highly in-demand cybersecurity roles. In Singapore alone, the cybersecurity talent demand has heightened in the last few months. Some of the industries that are looking to fill vacancies include healthcare, finance, and banking. Primarily, they look for professionals with skills and competencies such as: 

• Tech and systems network competencies 
• Coding background and experience (Java, Javascript, or C++)
• Up-to-date with the best industry practices on security regulations and privacy
• Skills in detecting, resolving, and mitigating fraudulent activities

On one hand, here are some of the specific cybersecurity roles that the market currently needs for 2021 and beyond:

• Cybersecurity engineers – They develop and implement solutions that can protect against insider threats, malware, spyware, and other problems.  
• Cybersecurity analysts – They mostly focus on system’s monitoring and protection and damage mitigation.
• Cybersecurity consultants – They takes charge of protecting a company’s sensitive data. They also detect and explore vulnerabilities that hackers may target to exploit.  
• Ethical hacker – Typically referred to as a white-hat hacker, they conduct lawful hacking to test and evaluate a system or infrastructure. 
• Source code auditor – This professional specializes in analysing coding issues as well as bugs, software defects, and sources of breaches.  
• Digital forensic analyst – Think of them as a typical forensic analyst who look for evidences to prove a crime.   
• Security software developer – They create programs or other tech solutions used to protect against cybersecurity concerns. 
• Network engineer – Network engineers or network architects lead in building, managing, and optimising IT infrastructures.  
• Chief information security officer – Typically, a CISO works closely with the company to provide cybersecurity awareness training to employees, planning foolproof communication and business practices, and checking important metrics for security.
• Senior sales manager – They primarily focus on creating and implementing sales strategies and pipelines for the company.
• Lead generation specialists – They work hand in hand with the marketing and sales team to find potential leads for the products or services offered by the company 

Wrap up

The market can expect to see more growth in the next few years. And with that, companies would need to find talents they can bring into their team. There is also a greater call for companies to find balance in designating responsibilities to their cybersecurity professionals and offering competitive salaries and benefits. Aspiring candidates, on the other hand, need to look into roles that they can explore as well as learning opportunities that they can tap into for experience.  

Here at Dataearch Consulting, we partner with companies to help them find the right people. There’s a limited talent pool, so the competition in recruiting talents is also quite steep amongst organisations. Need to add new core members to your team here in the APAC? Let us help you. Contact us today for more information!

Dan Branchflower is the Associate Director – Technology at Datasearch Consulting, a leading executive recruitment firm specialising in the Cyber & Cloud Technology sectors.

You can download their FREE comprehensive guide on “The Complete Guide to Hiring Fintech & Data Talent – 5 Proven Steps to Secure your Ideal Fintech or Data Role”. Alternatively, you can view the Datasearch Consulting website or contact them directly on info@datasearchconsulting.com for a more detailed discussion.

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