Recently, as a cloud service provider supporting and protecting online life, Akamai Technologies, Inc. (hereinafter referred to as "Akamai") signed a cooperation agreement with Digital China. This signing marks an opportunity for both parties to provide Chinese enterprises with Akamai's leading network security products and solutions, along with localized service experiences.
With the robust development of global digitalization, enterprises are utilizing new technologies such as artificial intelligence, cloud computing, and big data to enhance their efficiency while facing numerous cyber threats. This is evident from their investment in network security. According to IDC's latest "Worldwide Semi-Annual Security Spending Guide," security hardware, services, and software spending in the Asia-Pacific region (excluding Japan) will reach $36 billion by 2024, a 12.3% increase from the previous year. IDC predicts that security spending will grow at a five-year compound annual growth rate (CAGR) of 12.8% during the forecast period (2022-27), reaching $52 billion by 2027. The increasing number of cyberattacks in the Asia-Pacific region necessitates a shift in the approach to addressing cyber threats. China is leading security investments in its region, accounting for over 40% of total expenditures by 2024, with a five-year composite annual growth rate of 13.5%.
To address the increasingly severe challenges of cyber threats, this collaboration covers the sales, service, and support systems of Akamai's enterprise and network security products and solutions. For domestic enterprises, Digital China and Akamai will offer a series of corporate security products and solutions based on Akamai's micro-segmentation technology, helping manufacturers, financial service industries, and high-tech sectors achieve refined security protection, safeguard core data and critical business operations, and effectively deal with cyber threats. For enterprises expanding into overseas markets, both parties will provide products and solutions including enterprise and network security, fully ensuring the operation and development of e-commerce, media, and gaming industry enterprises in global markets. The joint solution from Digital China and Akamai has already provided comprehensive security protection for enterprises in China's automotive industry, shielding them from cybersecurity threats and receiving positive feedback from customers.
Mr. Wang Bingfeng, Co-Chairman and CEO of Digital China, stated: "Digital China has been deeply involved in China's information construction for over 20 years, relying on a broad partner ecosystem network to provide advanced technology and product solutions for Chinese enterprises. Akamai is a leader in network security, offering comprehensive network security solutions and industry insights that provide comprehensive and reliable security assurances for Chinese enterprises. We are looking forward to this cooperation. In the future, Digital China will continue to leverage its resources and service advantages in the network security field, working with Akamai to provide world-class security solutions for Chinese enterprises, boost the digital transformation and innovation of Chinese enterprises and fuel up China's digital development."
Mr. Li Sheng, Vice President and General Manager of Greater China at Akamai, stated: "Akamai is always committed to making digital experiences closer to users while ensuring threats are kept further away. Digital China is a leading cloud and digital services provider in China, with extensive channel management and localized service experience in the field of network security. We are very pleased to collaborate with Digital China to jointly provide enterprise users with Akamai's leading network security products and localized services, offering Chinese enterprises a safer and more efficient network environment for digital transformation both at home and abroad."
Akamai has continuously expanded its industry ecosystem, closely collaborating with numerous partners including Deloitte and Wangsu, aiming to provide customers with higher quality network security and cloud services to meet the growing demand in this field. Moreover, Akamai is actively expanding its cloud and edge computing ecosystem, launching the QCP (Qualified Computing Partner Program) to increase global partners based on open-source technology and Akamai cloud computing platform solutions, helping enterprises rapidly build cloud computing architecture and applications, more effectively utilize cloud-native technologies, and fully enjoy the efficiency brought by a multi-cloud environment.
In the future, Digital China will continue to deepen cooperation with Akamai, providing enterprise users with more comprehensive network security solutions, helping enterprises better tackle various IT challenges, improve operational efficiency, and enhance business innovation capabilities.