Taiwan cybersecurity industry empowered by innovation
Taiwan's cybersecurity industry is now worth more than US$1.26 billion, but what's driving the innovation behind it?
According to Frost - Sullivan, major established players from the US and Israel are dominating the Taiwan cybersecurity space, but startups are also driving innovation and unearthing new ideas.
“Taiwan's key strength of creating proprietary technology along with strong R-D capabilities has granted the country a competitive edge to capture growing cybersecurity's demand in the Asia-Pacific region," explains Frost - Sullivan research analyst for cybersecurity, Vivien Pua.
"The prioritization of technological innovation abilities and competence helps to keep pace with evolving cybersecurity needs, provides a significant economic opportunity for the cybersecurity industry.
Taiwan ranked fourth in the World Economic Foundation's 2018 Global Competitiveness Report. The ranking was awarded in terms of the country's innovation capability, which recognises the strength of its research and development.
“Given Taiwan's unique strengths and technological advantages over its Asia Pacific counterparts, the cybersecurity industry could potentially harness the significant economic opportunity arising from the growing demand for cybersecurity, not only at the national level but also at the regional level,” Frost - Sullivan notes.
The Taiwan Government has also been making efforts to promote the country's cybersecurity industry, particularly through R-D-intensive startups.
According to Frost - Sullivan those startups include ARCRAN, Authentrend, Datiphy, ECO-LUXURY, PIXIS and XCome are focused on tackling cybersecurity threats around the Internet of Things (IoT), traditional authentication methods, managing the growing BYOD trend and helping manage the increasing risk associated with critical business data assets.
“Established vendors including BOX Solutions, Cellopoint, CHANGING, CHT Security, GOTrust, Jrsys and Trustview are widely adopted by the government, financial and manufacturing sectors in Taiwan,” Frost - Sullivan explains.
“Some vendors like FineArt and Openfind, for example, have taken the additional step of expanding their business footprint further afield to mature neighboring markets like Japan for more than 15 years.
Frost - Sullivan notes three Taiwan cybersecurity vendors that are adding value to cybersecurity.
• Datiphy: Cost-effective and scalable solution tackles insider threats to protect digital assets Financial institution leverages on Datiphy's platform to address internal threats coming from privileged users or compromised accounts. Independent auditing without merely relying on IT team provides continuous compliance and database activities monitoring; effectively manages possible data security issues associated with the key digital assets.
• Openfind: Simple-to-use interface and rich management functions drive improved efficiencies to secure email system Openfind's mail solutions empower the government to centrally manage multiple departments' mail systems as part of its data center consolidation project. The mail solutions provide greater ease-to-manage and stable performance, not only able to fulfil the government's current needs, but also provide future-proof flexibility in the upcoming cloud adoption journey.
• FineArt: Comprehensive security policy control results in improved ability to protect confidential information iMQ Technology Inc., a leading microcontroller (MCU) fabless design house recognizes the needs to mitigate and thwart the insider threat from potential intellectual property (IP) breaches. By enforcing flexible access controls and conducting regular system audits under a user-friendly management tool, FineArt's X-FORT data loss prevention solution could respond to various internal security threats and effectively prevent data leak.