Report

The Philippines cyber security market reached a value of approximately USD 208.06 Million in 2024. The market is projected to grow at a CAGR of 12.80% between 2025 and 2034, reaching a value of around USD 693.87 Million by 2034.

Philippines Cyber Security Market Growth

The cyber security market is primed for significant growth due to several factors such as rising cybercrime activities such as phishing, hacking, and identity theft, extensive internet usage, increasing reliance on online platforms, growing concerns for data privacy and security, and large-scale digitalization. Also, rapid technological advancements in the field of cybersecurity are positively impacting the growth of Philippines cyber security market.

Moreover, the government is actively launching various initiatives to increase awareness regarding cyber-attacks. For instance, the National Cyber Security Plan (NCSP) 2023-2028, aims to protect businesses, critical networks, and infrastructure and create a trusted and reliable cyberspace for every citizen of the country by complying with the international cybersecurity standards. Also, increased promotion of ethical hacking by both the public and private sectors is another factor driving market expansion. For instance, In June 2024, the Department of Information and Technology (DICT) organized a HackforGov regional competition to nurture cybersecurity talent and create awareness among the masses.

Also, prominent players in Philippines cyber security industry are constantly improving existing technologies through integration with artificial intelligence (AI), quantum computing, blockchain, and the Internet of Things (IoT) and organizing programs to promote cyber resilience and stand out among competitors. For instance, Microsoft Corporation has aligned with the Philippines National AI Roadmap and combined AI and cyber security technologies to upskill the country's female workforce.

Key Trends and Recent Developments

Growing cybersecurity attacks, increased use of smartphones and the internet, rise in digital transactions, and adoption of data protection laws are accelerating the Philippines cyber security market value.

February 2024

The Philippines government approved the National Cybersecurity Plan 2024-29 in consultation with various private and public stakeholders. The plan is extremely comprehensive and covers wide aspects of cybersecurity in the country. This includes identifying cyber assets and infrastructure that require protection, preparing guidelines on how to respond to cybersecurity threats and attacks, developing advanced threat assessments, conducting personnel training, and promoting awareness against cyber threats among the civilian population.

April 2024

The Philippines government joined hands with the United States and Japan in a strategic cyber threat-sharing arrangement to mitigate increased cyber security risks and attacks in the country. The arrangement was introduced during a trilateral dialogue between the presidents of the three countries. It marks a major move towards the nation's efforts in cybersecurity defence. According to the industry reports, cyber-attacks against the Philippines government increased by 20% weeks before the talks concluded.

April 2024

US-based global cybersecurity solutions provider Resecurity introduced its premium product ideal for the Filipino population, namely the Digital Identity Protection Solution. The solution is aimed at protecting against digital cyber security threats such as dark web activity, account hacking, identity theft, and personal identifiable information (PII) exposure. The product will be supplied on D2C (Direct to Customer) and B2C (Business to Customer) basis by Managed Security Service Providers (MSSP) and IT service providers in the country.

January 2024

The Philippines Long Distance Telephone Company (PLTD) was officially admitted to the global Forum of Incident Response and Cyber Security Teams (FIRST), becoming the first and only Philippines-based organisation to join this premier group. As a result, the organisation's Cyber Security Incident Response Team (CSIRT) will be able to share valuable data and tools access associated with cybersecurity and cyber threats in the country with FIRST, a global leader in cybersecurity incident response.

Increased Cybersecurity Attacks Propelling Market Growth

The increase in the number and frequency of cybersecurity attacks is a major factor driving the growth of the Philippines cyber security market. According to the International Trade Association, at least one in every four Philippines-based companies were exposed to cyberattacks including malware, phishing, and password hacks in a survey conducted during the year 2023. A persistent increase in such attacks is expected to propel the market's growth.

Adoption of Data Privacy Laws Driving Revenue Generation in the Cybersecurity Market

The government's adoption of the National Cybersecurity Plan 2024-29 and other data privacy laws operating in the country have introduced stringent laws regarding data privacy and protection that individuals and businesses must comply with. Moreover, to curb data privacy breaches and mitigate cyber security risks, the government is collaborating with several private players to increase the Philippines cyber security market revenue.

Use of Smartphones and the Internet Fuelling Cyber Security Demand Growth

Philippines is a highly digitised economy owing to the growing use of the internet, smartphones, and cloud-based services. According to industry reports, the number of mobile subscribers in the country is expected to reach 159 million by 2025, followed by broadband users at 10.8 million during the same period. Greater exposure to smart devices, applications, and the internet will raise exposure to cyber threats leading to a higher demand growth.

Rising Digital Transactions Creating New Opportunities for the Cybersecurity Industry

A rise in digital transactions has made the market prone to frequent cybersecurity attacks. According to the Central Bank of the Philippines, digital transactions accounted for 40.1% share in the total retail payments within the country. With increasing digitisation, the share is estimated to grow further during the forecast period, thus increasing cyber security risks, and propelling the market's growth.

Philippines Cyber Security Industry Segmentation

"Philippines Cyber Security Market Report and Forecast 2025-2034" offers a detailed analysis of the market based on the following segments:

Market Breakup by Offering:

- Solutions�_x000D_ _x000D_ Identity and Access Management _x000D_ Antivirus/Antimalware _x000D_ Encryption and Tokenisation _x000D_ Compliance and Policy Management _x000D_ Firewall _x000D_ Others _x000D_ _x000D_
- Solutions�_x000D_ _x000D_ Identity and Access Management _x000D_ Antivirus/Antimalware _x000D_ Encryption and Tokenisation _x000D_ Compliance and Policy Management _x000D_ Firewall _x000D_ Others _x000D_ _x000D_
- Services

- Services

Market Breakup by Deployment Mode:

- On-Premises
- Cloud

Market Breakup by Organisation Size:

- Large Enterprises
- Small and Medium Enterprise (SMEs)

Market Breakup by Security:

- Network Security
- Cloud Security
- End Point and IOT Security
- Application Security

Market Breakup by Industry Vertical:

- BFSI
- Government
- Healthcare and Life Sciences
- Aerospace and Defence
- Manufacturing
- Others

Philippines Cyber Security Market Share

Based on organization size, the market is mainly bifurcated into large enterprises and small and medium enterprises (SMEs). Large enterprises hold a significant portion of the cyber security market share in Philippines as both public and private enterprises are widely deploying anti-malware and anti-virus tools to combat online attacks and fraudulent activities to enhance security and avoid data breaches. Furthermore, SMEs in the Philippines are also concerned as local businesses are being increasingly targeted by malicious groups, driving the need for robust cybersecurity measures. This, in turn, is expected to boost the development of the cybersecurity market.

Leading Companies in the Philippines Cyber Security Market

Market players are introducing new technologies and initiatives to enhance cyber security.

- IBM Corporation
- Microsoft Corp.
- Cisco Systems Inc.
- Amazon Web Services, Inc.
- Oracle Corporation
- Fujitsu Ltd.
- Dell Inc.
- Fortinet Inc.
- Intel Corporation
- Others

Philippines Cyber Security Market�Report Snapshots

Philippines Cyber Security�Market Size

Philippines Cyber Security Market Growth

Philippines Cyber Security�Market Share

Philippines Cyber Security�Companies