Information Technology Australia and New Zealand (ANZ) Managed Security Services Market, Forecast to 2022

Lack of In-house Cybersecurity Skills Drives MSS Adoption


RELEASE DATE
20-May-2019
REGION
Asia Pacific
DELIVERABLE TYPE
Market Research

RESEARCH CODE
4L11-01-00-00-00
SKU
IT03860-AP-MR_23184
Yes
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Australia and New Zealand (ANZ) Managed Security Services Market, Forecast to 2022
Published on: 20-May-2019 | SKU: IT03860-AP-MR_23184

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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

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


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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 regula
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Deliverable Type Market Research
No Index No
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

Australia and New Zealand (ANZ) Managed Security Services Market, Forecast to 2022

$4,950.00
In stock
SKU
IT03860-AP-MR_23184