Greater China Managed Security Services Market, Forecast to 2023

Greater China Managed Security Services Market, Forecast to 2023

Lack of Skilled Professionals and Compliance Pressure Drive MSS Adoption

RELEASE DATE
29-Apr-2020
REGION
Asia Pacific
Research Code: 4L98-01-00-00-00
SKU: IT04079-AP-MR_24209

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Description

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.

Key Issues Addressed

  • Is the market growing? If yes, how long will it continue to grow and at what rate?
  • Which are the key services adopted by customers in the region?
  • How is the competitive landscape in Greater China?
  • Will MSSPs be replaced by new trends such as insourcing and cloud-based security services?
  • How will the market evolve in the next 5 years?

Table of Contents

Market Definitions

Managed Security Service Types

Market Overview—Definitions

Market Overview—Definitions (continued)

Key Questions this Study will Answer

Market Segmentation

Research Scope

Geographic 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—Continued Trend Toward the Outsourcing of Cybersecurity Operations

Growth Opportunity 2—Enterprises Shifting to the Cloud and MSSPs to Help Protect These Multi-cloud Environments

Growth Opportunity 3—Hybrid MSS Capabilities to Become More Important

Growth Opportunity 4—Larger, Mature Enterprises Looking for More Advanced Security Services

4 Major Growth Opportunities

Strategic Imperatives for Success and Growth

Availability and Completeness of MSS Solutions

Regional Geographic Coverage of Managed Security Service Offerings

Country/Region Legends for Security Operations Centers

NTT

CITIC Telecom CPC

NSFOCUS

3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

List of Exhibits

Related Research
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.--BEGIN PROMO--

Key Issues Addressed

  • Is the market growing? If yes, how long will it continue to grow and at what rate?
  • Which are the key services adopted by customers in the region?
  • How is the competitive landscape in Greater China?
  • Will MSSPs be replaced by new trends such as insourcing and cloud-based security services?
  • How will the market evolve in the next 5 years?
More Information
No Index No
Podcast No
Author Vivien Pua
Industries Information Technology
WIP Number 4L98-01-00-00-00
Is Prebook No
GPS Codes 9702-C1,9705-C1