South Korea Managed Security Services Market, Forecast to 2021

South Korea Managed Security Services Market, Forecast to 2021

Pressure to Reduce Operational Costs Driving MSS Adoption

RELEASE DATE
14-Feb-2018
REGION
Asia Pacific
Research Code: 4K44-01-00-00-00
SKU: IT03588-AP-MR_21464
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Description

The South Korean MSS market witnessed a growth of 9.5% in 2016. The market saw a high demand from cloud MSS and hybrid MSS. Amazon Web Service (AWS) did business in the South Korean market, with support from leading local participants SK Infosec and AhnLab. As many customers are still using legacy solutions and not private cloud, the cloud MSS remains focused on public cloud such as AWS, Azure, Google, and IBM cloud, and these companies are trying to partner with cloud service providers. To reduce costs and have a better understanding about security incidents, clients prefer to have MSS professionals in their security operations centres (SOCs).

In addition to market growth analysis, the study highlights the driving forces of the managed security services (MSS) market. The shortage of cyber security professionals with strong expertise was the top factor driving enterprises to engage with MSSPs to help them cope with new security challenges. The evolution of advanced threats continued to cause greater operational pressure on companies, driving them to look at MSSPs to reduce the pressure and better security threat management. The introduction and amendment of cyber security laws and regulations are urging companies to focus more on regulatory compliance. The shift from CapEx to OpEx continued to take place across the APAC region, prompting companies to outsource parts of their security practices to focus more on the revenue-generating operations.

Market trends have been analyzed for the period 2015 to 2021, with 2016 as the base year. Hosted security services (HSS) and customer-premises equipment (CPE)-based management and monitoring services are the key service segments in this study. Vertical segmentation includes the government, banking, financial services, and insurance (BFSI), service provider, manufacturing, education, and other sectors including pharmaceuticals, retail, logistics, oil and gas, energy, mining, agriculture, Information Technology (IT)/IT-enabled services (ITeS), eGaming, eCommerce, and business process outsourcing (BPO).

Companies mentioned in the Korean MSS market's vendor analysis include NTT, IBM Security, SK Infosec, AhnLab, and IGLOO SECURITY.

Key Issues Addressed

  •  Is the MSS market growing? How long will it continue to grow, and at what rate?
  •  Are the existing competitors structured well to meet customer needs?
  • What were the key services that were adopted the most by customers in the region in 2016?
  • How was the competitive landscape in South Korea?
  •  Will MSSPs be replaced by the new trends, such as in-sourcing and cloud-based security services?
  •  How will the market be shaped in the next 5 years?

 

Table of Contents

Market Definitions

Market Segmentation

Geographical Coverage

South Korea—Key Findings

South Korea—Market Engineering Measurements

South Korea—Revenue Forecast

South Korea—Percent Revenue Forecast by Segment

South Korea—Revenue Forecast by Segment

South Korea—Percent Revenue Forecast by Country

Competitive Analysis

Competitive Environment

Growth Opportunity 1—Growing Need for User Entity and Behavior Analytics (UEBA) Services

Growth Opportunity 2—Data Product-as-a-Service: The Rise of Threat Intelligence Services

Growth Opportunity 3—Moving Toward a Predictive Model for MSS

Growth Opportunity 4—Securing the OT Environment Beyond IT

Growth Opportunity 5—Advisory-led MSS to Align Cyber Security with Business Requirements

5 Major Growth Opportunities

Strategic Imperatives for Success and Growth

Availability and Completeness of MSS Offerings

Country/Region Legend for SOCs

NTT—Overview

IBM Security—Overview

SK Infosec—Overview

AhnLab—Overview

IGLOO SECURITY—Overview

List of Security Services and Vendor Partnerships

List of MSSP Pricing Models in APAC

The Last Word—Predictions

Legal Disclaimer

List of Exhibits

Market Engineering Methodology

List of Figures
  • 1. MSS Market: Market Engineering Measurements, South Korea, 2016
  • 2. MSS Market: Revenue Forecast by Segment, South Korea, 2015–2021
  • 3. MSS Market: Competitive Structure, South Korea, 2016
  • 4. MSS Market: Availability and Completeness of MSS Offerings
List of Charts
  • 1. Total MSS Market: Customer Segmentation, APAC, 2016
  • 2. MSS Market: Regional Coverage, South Korea, 2016
  • 3. MSS Market: Revenue Forecast, South Korea, 2015–2021
  • 4. MSS Market: Percent Revenue Forecast by Segment, South Korea, 2015–2021
  • 5. MSS Market: Percent of Revenue, South Korea, 2016
Related Research
The South Korean MSS market witnessed a growth of 9.5% in 2016. The market saw a high demand from cloud MSS and hybrid MSS. Amazon Web Service (AWS) did business in the South Korean market, with support from leading local participants SK Infosec and AhnLab. As many customers are still using legacy solutions and not private cloud, the cloud MSS remains focused on public cloud such as AWS, Azure, Google, and IBM cloud, and these companies are trying to partner with cloud service providers. To reduce costs and have a better understanding about security incidents, clients prefer to have MSS professionals in their security operations centres (SOCs). In addition to market growth analysis, the study highlights the driving forces of the managed security services (MSS) market. The shortage of cyber security professionals with strong expertise was the top factor driving enterprises to engage with MSSPs to help them cope with new security challenges. The evolution of advanced threats continued to cause greater operational pressure on companies, driving them to look at MSSPs to reduce the pressure and better security threat management. The introduction and amendment of cyber security laws and regulations are urging companies to focus more on regulatory compliance. The shift from CapEx to OpEx continued to take place across the APAC region, prompting companies to outsource parts of their security practices to focus more on the revenue-generating operations. Market trends have been analyzed for the period 2015 to 2021, with 2016 as the base year. Hosted security services (HSS) and customer-premises equipment (CPE)-based management and monitoring services are the key service segments in this study. Vertical segmentation includes the government, banking, financial services, and insurance (BFSI), service provider, manufacturing, education, and other sectors including pharmaceuticals, retail, logistics, oil and gas, energy, mining, agriculture, Information Technology (IT)/IT-enable
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Table of Contents | Market Overview~ || Market Definitions~ || Market Segmentation~ || Geographical Coverage~ | Forecasts and Trends~ || South Korea—Key Findings~ || South Korea—Market Engineering Measurements~ || South Korea—Revenue Forecast~ || South Korea—Percent Revenue Forecast by Segment~ || South Korea—Revenue Forecast by Segment~ || South Korea—Percent Revenue Forecast by Country~ | Market Share and Competitive Analysis~ || Competitive Analysis~ || Competitive Environment~ | Growth Opportunities and Companies to Action~ || Growth Opportunity 1—Growing Need for User Entity and Behavior Analytics (UEBA) Services~ || Growth Opportunity 2—Data Product-as-a-Service: The Rise of Threat Intelligence Services~ || Growth Opportunity 3—Moving Toward a Predictive Model for MSS~ || Growth Opportunity 4—Securing the OT Environment Beyond IT~ || Growth Opportunity 5—Advisory-led MSS to Align Cyber Security with Business Requirements~ || 5 Major Growth Opportunities~ || Strategic Imperatives for Success and Growth~ | Managed Security Services—Vendor Analysis~ || Availability and Completeness of MSS Offerings~ || Country/Region Legend for SOCs~ || NTT—Overview~ || IBM Security—Overview~ || SK Infosec—Overview~ | Other Notable Managed Security Service Providers~ || AhnLab—Overview~ || IGLOO SECURITY—Overview~ || List of Security Services and Vendor Partnerships~ || List of MSSP Pricing Models in APAC~ | The Last Word~ || The Last Word—Predictions~ || Legal Disclaimer~ | Appendix~ || List of Exhibits~ || Market Engineering Methodology~
List of Charts and Figures 1. MSS Market: Market Engineering Measurements, South Korea, 2016~ 2. MSS Market: Revenue Forecast by Segment, South Korea, 2015–2021~ 3. MSS Market: Competitive Structure, South Korea, 2016~ 4. MSS Market: Availability and Completeness of MSS Offerings~| 1. Total MSS Market: Customer Segmentation, APAC, 2016~ 2. MSS Market: Regional Coverage, South Korea, 2016 ~ 3. MSS Market: Revenue Forecast, South Korea, 2015–2021~ 4. MSS Market: Percent Revenue Forecast by Segment, South Korea, 2015–2021~ 5. MSS Market: Percent of Revenue, South Korea, 2016~
Author Vu Anh Tien
Industries Information Technology
WIP Number 4K44-01-00-00-00
Is Prebook No
GPS Codes 9532-C1,9702-C1,9705-C1