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Increasing Adoption of Cloud-based SCM Services Hinders Uptake of On-premise SCM Services
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Enterprises in Australia and New Zealand (ANZ) are increasingly adopting Web and e-mail security solutions as add-on features to their security suites, marking a move away from stand-alone security solutions. This will lead to flat growth in a maturing market. As complexity remains a key cybersecurity concern among enterprises, the market is witnessing growing preference for integrated security suites, and e-mail and Web security solutions are being bundled under one converged security suite. Both market segments experienced slower YoY growth in 2018, and ANZ is seeing a significant uptake of cloud-based services, further contributing to the slow market growth.As enterprises increasingly adopt digital technologies to stand out from the competition, they become more vulnerable to cyber attacks. Web security will dominate the market with a larger share than e-mail, and this will be due to the growing number of Web attacks.
The study period is from 2019 to 2023, and the base year is 2018. SCM solutions are the key area of focus and they cover e-mail security and Web security. Vertical segmentation is as follows: government, banking, financial services, and insurance (BFSI), service provider, manufacturing, education, and other sectors (pharmaceuticals, retail, logistics, oil and gas, energy, mining, agriculture, IT/ITES, and BPO). Horizontal segmentation covers large businesses and small and medium businesses.
Important companies in the ANZ SCM market include Symantec, Cisco (IronPort), Forcepoint, Trend Micro, McAfee, RUAG Defence (Clearswift), Axway (Tumbleweed), Barracuda, and Sophos.
The study highlights important market growth drivers and restraints. Key drivers include the constantly evolving risks that drive the need for e-mail and Web security solutions, the stringent security and privacy requirements that push organizations to invest in on-premise security solutions, and the need for productivity management that drives enterprises to invest in these solutions.
Key Issues Addressed
Author: Niihara Tetsuya
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