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Lack of Skilled Professionals and Compliance Pressure Drive MSS Adoption
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Cybersecurity compliance and guidance are key initiatives driving the Greater China managed security services (MSS) market. Local governments have placed more emphasis on cybersecurity, thereby raising awareness among both public and private sector enterprises in the region. In the face of tightening regulations, enterprises are increasingly seeking external support to meet the specified requirements and improve their cyber resilience.Akin to the broader Asia-Pacific (APAC) region, there is a limited security talent pool to handle an increasingly sophisticated and complex threat landscape, which is compounding the pressure on internal security teams. The situation has led enterprises to review their cybersecurity strategies and utilize third-party experts to manage cybersecurity issues continuously. Managed security service providers (MSSPs) are also developing automated solutions to provide accurate and efficient services to ease the burden on companies’ internal security teams. At the country level, the adoption of MSS in Greater China region continued to be led by China, followed by Hong Kong and Taiwan. With the preference and requirement to keep sensitive or confidential information on-premise, the customer-premises equipment (CPE)-based segment continued to dominate the Greater China market. Overall, the large enterprises segment was the key contributor to the MSS market in Greater China. In comparison, SMBs recorded slightly slower growth. However, the SMB segment is expected to witness a growing demand to outsource security operations to MSSPs moving forward. Frost & Sullivan expects rising awareness on cybersecurity resilience and growing complexity of today’s threat landscape to spur the maturity of this MSS market moving forward.Market trends are analyzed from 2017 to 2023, taking 2018 as the base year. MSS is the key focus area of this study. The vertical segmentation includes government; banking, financial services, and insurance (BFSI); service provider; manufacturing; education; and other sectors (including pharmaceuticals, retail, logistics, oil and gas, energy, mining, agriculture, IT/ITES, eGaming, eCommerce, and BPOs).Companies mentioned in the total MSS market's competitive landscape include ACSI, CHT Security, CITIC Telecom CPC, NSFOCUS, NTT, Orange, PCCW, TopSec, Trustwave, Venustech, and other smaller MSSPs. The countries included in this study are China, Hong Kong, and Taiwan.
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