Driven by increased cloud adoption and massive work-from-home migration, Australia and India will account 26 per cent of the overall security spending in the Asia-Pacific region in 2021, according to the IDC. Australia and India are the next two largest countries in terms of security spending due to the presence of large number of businesses catering to domestic as well as international customers.

Overall, spending on security hardware, services, and software in Asia/Pacific is expected to reach $23.1 billion in 2021 -- an increase of 12.6 per cent over the previous year. IDC expects investment on security related products and services to grow at a five-year CAGR of 13.3 per cent over the forecast period (2019-24) and reach $35 billion by 2024.