Asia-Pacific Managed Security Services Market: Key MSSPs Trends
Many Asia-Pacific (APAC) organizations are adopting managed security services with advanced threat detection and remediation capabilities, according to recent research from business consulting firm Frost & Sullivan.
The Frost & Sullivan “Asia-Pacific Managed Security Services Market, Forecast to 2020” revealed both APAC enterprises and government agencies are searching for security solutions that provide advanced protection against evolving cyber threats.
As such, managed security services providers (MSSPs) are leveraging advanced security analytics platforms that include forensics and incident response capabilities to capitalize on the rising demand for threat detection and remediation support in the APAC region, Frost & Sullivan indicated.
APAC Orgs. Want Managed Security Services
The demand for managed security services in the APAC region is expected to increase over the next five years, Frost & Sullivan Digital Transformation Industry Analyst Vu Anh Tien noted in a prepared statement.
As more APAC enterprises and government agencies migrate their infrastructure to the cloud, MSSPs can provide a variety of services to help these organizations address advanced persistent threat (APT), distributed denial-of-service (DDoS) and ransomware attacks, Tien stated.
“In addition to traditional network security services, MSSPs should also look at other advanced security services, such as advanced endpoint detection and response (AEDR), advanced security analytics and threat intelligence, critical infrastructure protection (CIP) and advanced DDoS mitigation to prevent Internet of Things (IoT)-based DDoS attacks,” he said.
How to Approach the APAC Managed Security Services Market
Frost & Sullivan indicated MSSPs must address the following industry challenges to achieve higher growth in the APAC region:
- Customer concerns about service quality and reliability.
- High dependence of enterprises on traditional security products and partnerships with system on chip (SOC) vendors.
- MSSP non-compliance with assorted industry data privacy standards.
Also, MSSPs can work with IoT vendors to “integrate advanced security analytics into their platforms to detect [cyber threats] from endpoints,” Tien pointed out.
Global Managed Security Services Market Is Growing
Allied Market Research has projected the global managed security services market will expand at a 16.6 percent compound annual growth rate (CAGR) between 2014 and 2022. The market research firm has predicted this sector will be worth $40.97 billion by 2022.
Gartner indicated several companies may dominate the managed security services market in 2017. In fact, the technology research firm named IBM, Symantec, SecureWorks and Verizon as “Leaders” in its Magic Quadrant for MSSPs.