Australia and New Zealand (ANZ) Managed Security Services Market, Forecast to 2022
Australia and New Zealand (ANZ) Managed Security Services Market, Forecast to 2022
Lack of In-house Cybersecurity Skills Drives MSS Adoption
20-May-2019
Asia Pacific
Description
In 2017, the MSS market in the ANZ region recorded a growth of 13.5%. Australian companies are increasingly witnessing cybercrimes, making the region one of the most targeted the Asia-Pacific region. Ransomware and phishing attacks are the most frequent, and governments are now looking at the growing number of cyber incidents as a major area of concern.
The governments are continuing to work on their budget of $230 million announced as part of their Cybersecurity Strategy in 2016. They are focusing on education and training programs to build the cybersecurity skills and to improve the cybersecurity posture of their firms. In Australia, the government is encouraging the private sector to step in and secure the country’s cyberspace, as the private sector holds and maintains a large volume of digital infrastructure. The government is focusing on increasing cybersecurity awareness and bridging the skills gap by partnering with educational institutions.
The MSS landscape has expanded over the years, and the participants have developed capabilities to mitigate advanced threats. The governments in the region continue to focus on its cybersecurity strategy and are focusing on higher, quicker adoption of digital technologies. With the growing number of cyber incidents, enterprises in the region now have to comply with increasingly stringent cybersecurity regulations.
The ANZ region is witnessing a higher rate of adoption of cloud-based MSS from both local and global vendors in the market. Enterprises benefit from the features provided by the cloud, such as ease of deployment and convenience.
Large businesses that deploy MMS solutions mainly have their in-house capabilities and use the services of MSSPs to only supplement for better threat reporting, threat management, and for generating use cases. They also benefit from evolving technologies, an expanding threat landscape, and deal with the limited talent available in house.
The region will continue to comply with regulatory needs pertaining to cybersecurity measures. For instance, Australia is governed by the ‘Evaluated Products List’ from the Australian Signals Directorate.
In New Zealand, the government is promoting digital adoption and increased use of digital technology to achieve a better economic growth. With this, cybersecurity is gaining prominence, and the country has increased its investment in cybersecurity services. This trend is expected to continue over the next 4 to 5 years, with the country focusing on adopting stringent cybersecurity control.
In the 2018 budget, the New Zealand Government allocated $2.5 million of new operating funding to the Computer Emergency Response Team (CERT) to be utilized over the next 4 years. This is a part of the updated cybersecurity strategy adopted by the government.
Author: Divya Prasad
Table of Contents
Market Definitions
Managed Security Services Types
Market Overview—Definitions
Market Overview—Definitions (continued)
Key Questions this Study will Answer
Market Segmentation
Research Scope
Geographical Coverage
Key Findings
Market Engineering Measurements
Market Engineering Measurements (continued)
Revenue Forecast
Percent Revenue Forecast by Segment
Revenue Forecast by Segment
Revenue Forecast Discussion by Segment
Percent Revenue Forecast by Country
Revenue Forecast Discussion by Country
Revenue Forecast Discussion by Country (continued)
Competitive Analysis
Competitive Environment
Growth Opportunity 1—Outsourcing of Security Operations
Growth Opportunity 2—Increasing Shift to the Cloud and from CAPEX to OPEX
Growth Opportunity 3—Large Enterprises’ Preference for Insourcing
Growth Opportunity 4—Increasing Demand for Advanced Security Services
4 Major Growth Opportunities
Strategic Imperatives for Success and Growth
Availability and Completeness of Managed Security Services Offerings
Country/Region Legend for Security Operation Centers
IBM Security
Tata Communications
Telstra
List of Security Services and Vendor Partnerships
List of MSSP Pricing Models in APAC
3 Big Predictions
Legal Disclaimer
Market Engineering Methodology
List of Exhibits
Popular Topics
No Index | No |
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Podcast | No |
Author | Divya Prasad |
Industries | Information Technology |
WIP Number | 4L11-01-00-00-00 |
Is Prebook | No |
GPS Codes | 9532-C1,9702-C1,9705-C1 |