Thailand’s finance sector to see cybersecurity market hit $87m by 2026 - Insurance Asia

NEWS INSURANCE STAFF REPORTER , THAILAND PUBLISHED: 1 YEAR AGO 352 VIEWS /Pixabay Thailand’s finance sector to see cybersecurity market hit $87m by 2026 This is driven by cyber threats, regulatory pressures, and the rapid adoption. The cybersecurity market in Thailand's banking, financial services, and insurance (BFSI) sector is projected to grow from $60.39m in 2020 to $87.39m by 2026, reflecting a compound annual growth rate (CAGR) of approximately 6.3%, according to YCP. The growth is driven by increasing cyber threats, regulatory pressures, and the rapid adoption of digital banking services, YCP’s “Unlocking Thailand’s Cybersecurity Market: 2025 Playbook” report. With more banks offering online and mobile banking platforms, the attack surface for cyber threats has expanded, prompting financial institutions to strengthen their cybersecurity measures.   Cloud adoption has also contributed to the demand for advanced security solutions. Additionally, the integration of machine learning and artificial intelligence to optimise banking operations has heightened the need for advanced cybersecurity frameworks to mitigate associated risks.   Regulatory compliance is another key driver of cybersecurity spending.  Under Thailand's Personal Data Protection Act (PDPA), financial institutions are required to implement robust data protection measures to safeguard customer information, reinforcing the need for comprehensive cybersecurity frameworks.   The growing reliance on digital platforms and advanced technologies is expected to sustain the demand for cybersecurity solutions in Thailand’s BFSI sector, as institutions aim to enhance resilience against evolving cyber threats.