Increasingly Sophisticated Threat Landscape Drives the Uptake of Managed Security Services in APAC

Increasingly Sophisticated Threat Landscape Drives the Uptake of Managed Security Services in APAC

Complex Business Environment and Insufficient Cybersecurity Make the Adoption of MSS a Top Technology Strategy

RELEASE DATE
05-Feb-2021
REGION
Asia Pacific
Research Code: PB64-01-00-00-00
SKU: IT04279-AP-MT_25234

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Description

Managed security service providers (MSSPs) offer managed security services (MSS) that help manage and monitor the security posture of their customers’ IT infrastructure. By using these services, client organizations are often able to reduce expenditure on either customer premises equipment (CPE) or in-house security specialists, and receive effective security management. The services offered are categorized into 2 segments: hosted security services (HSS) and CPE-based management monitoring services (MMS).

Though revenue generation in the APAC MSS market is likely to be impeded by the global COVID-19 pandemic, it will recover quickly after 2020 at a CAGR of 14.9% (2019–2024); growth will vary with each country in the region.

Though ANZ is a fragmented market with a large number of local security providers competing with international participants in both Australia and New Zealand, it will continue on a steady growth path.

The ASEAN market is expected to maintain its strong growth over the next 5 years. The lack of budget allocated to cybersecurity, specifically to strengthen detection and response capabilities, is one of the reasons why businesses engage MSSPs.

The Indian MSS market is set to experience a robust, double-digit CAGR from 2019 to 2024, indicating that the market will continue seeing strong growth in the next 5 years.

Greater China region recorded strong YoY growth in 2019. Regulatory pressure and the evolving threat landscape will be top driving factors, especially in highly regulated sectors.

The Japanese MSS market is the largest in the APAC region; it is expected to grow at a healthy CAGR of 9.6% from 2019 to 2024.

Growth of the South Korean market was relatively flat when compared to other countries in APAC. Owing to the government’s smart factory supply expansion project, the manufacturing vertical will continue to be a key revenue contributor and help the market grow at a CAGR of 12.1%.
Companies mentioned in the market's competitive landscape include ACSI, AIMS, AT&T, Accenture, AhnLab, BT, Bkav, CAT Cyfence, CHT Security, CITIC Telecom CPC, CMC Infosec, DXC Technology, E-CQURITY, Ensign, HCL Comnet, HeiTech Padu, IBM Security, IIJ, ISSDU, KDDI, LAC, Lumen Technologies, MBSD, Microland, NEC, NSFOCUS, NTT, Network Box, Orange, PCCW, SKInfosec, ST Electronics, Samsung SDS, Secureworks, SysArmy, TM ONE, TOPSEC, Tata Communications, TechMahindra, Telkomtelstra, Telstra, Trustwave, Unisys, VCS, Venustech, Verizon, Wipro, and i-secure.

Author: Anh Tien Vu

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
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Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on Managed Security Service Market

Growth Opportunities Fuel the Growth Pipeline Engine™

Managed Security Services Market Scope of Analysis

Market Segmentation

Market Segmentation (continued)

Market Segmentation (continued)

Market Segmentation (continued)

Key Growth Metrics for MSS Market

Key Competitors for MSS Market

Key Competitors for MSS Market (continued)

Growth Drivers for MSS Market

Growth Driver Analysis for MSS Market

Growth Driver Analysis for MSS Market (continued)

Growth Driver Analysis for MSS Market (continued)

Growth Driver Analysis for MSS Market (continued)

Growth Restraints for MSS Market

Growth Restraint Analysis for MSS Market

Growth Restraint Analysis for MSS Market (continued)

Forecast Assumptions, MSS Market

Revenue Forecast, MSS Market

Revenue Forecast by Segment, MSS Market

Revenue Forecast by Region, MSS Market

Revenue Forecast Analysis, MSS Market

Revenue Forecast Discussion by Region, MSS Market

Revenue Forecast Discussion by Region, MSS Market (continued)

Revenue Forecast Discussion by Region, MSS Market (continued)

Revenue Forecast Discussion by Region, MSS Market (continued)

Revenue Forecast Discussion by Region, MSS Market (continued)

Percent Revenue by Region, MSS Market

Competitive Environment, MSS Market

Revenue Share, MSS Market

Percent Revenue by Vertical, MSS Market

Percent Revenue by Horizontal, MSS Market

Key Growth Metrics for MSS Market, Greater China

Key Findings, MSS Market, Greater China

Revenue Forecast, MSS Market, Greater China

Revenue Forecast by Segment, MSS Market, Greater China

Revenue Forecast by Country, MSS Market, Greater China

Revenue Forecast Discussion by Country, MSS Market, Greater China

Revenue Forecast Discussion by Country, MSS Market, Greater China (continued)

Competitive Environment, MSS Market, Greater China

Revenue Share Analysis, MSS Market, Greater China

Availability and Completeness of Managed Security Services Offerings

Regional Geographic Coverage of Managed Security Services Offerings

Country/Region Legend for Security Operation Centers

CITIC Telecom CPC

DXC Technology

IBM Security

Samsung SDS

Secureworks

SKInfosec

NRI Secure Technologies

NSFOCUS

NTT

Tata Communications

Telstra

Trustwave, a Singtel Company

Verizon

Growth Opportunity 1—Growing Interest in Advanced MSS, 2020

Growth Opportunity 1—Growing Interest in Advanced MSS, 2020 (continued)

Growth Opportunity 2—Growing Demand for Cloud Security, 2020

Growth Opportunity 2—Growing Demand for Cloud Security, 2020 (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

Managed security service providers (MSSPs) offer managed security services (MSS) that help manage and monitor the security posture of their customers’ IT infrastructure. By using these services, client organizations are often able to reduce expenditure on either customer premises equipment (CPE) or in-house security specialists, and receive effective security management. The services offered are categorized into 2 segments: hosted security services (HSS) and CPE-based management monitoring services (MMS). Though revenue generation in the APAC MSS market is likely to be impeded by the global COVID-19 pandemic, it will recover quickly after 2020 at a CAGR of 14.9% (2019–2024); growth will vary with each country in the region. Though ANZ is a fragmented market with a large number of local security providers competing with international participants in both Australia and New Zealand, it will continue on a steady growth path. The ASEAN market is expected to maintain its strong growth over the next 5 years. The lack of budget allocated to cybersecurity, specifically to strengthen detection and response capabilities, is one of the reasons why businesses engage MSSPs. The Indian MSS market is set to experience a robust, double-digit CAGR from 2019 to 2024, indicating that the market will continue seeing strong growth in the next 5 years. Greater China region recorded strong YoY growth in 2019. Regulatory pressure and the evolving threat landscape will be top driving factors, especially in highly regulated sectors. The Japanese MSS market is the largest in the APAC region; it is expected to grow at a healthy CAGR of 9.6% from 2019 to 2024. Growth of the South Korean market was relatively flat when compared to other countries in APAC. Owing to the government’s smart factory supply expansion project, the manufacturing vertical will continue to be a key revenue contributor and help the market grow at a CAGR of 12.1%. Companies mentioned in the market's competitive landscape include ACSI, AIMS, AT&T, Accenture, AhnLab, BT, Bkav, CAT Cyfence, CHT Security, CITIC Telecom CPC, CMC Infosec, DXC Technology, E-CQURITY, Ensign, HCL Comnet, HeiTech Padu, IBM Security, IIJ, ISSDU, KDDI, LAC, Lumen Technologies, MBSD, Microland, NEC, NSFOCUS, NTT, Network Box, Orange, PCCW, SKInfosec, ST Electronics, Samsung SDS, Secureworks, SysArmy, TM ONE, TOPSEC, Tata Communications, TechMahindra, Telkomtelstra, Telstra, Trustwave, Unisys, VCS, Venustech, Verizon, Wipro, and i-secure. Author: Anh Tien Vu
More Information
No Index No
Podcast No
Author Anh Tien Vu
Industries Information Technology
WIP Number PB64-01-00-00-00
Is Prebook No
GPS Codes 9532-C1,9659