Frost & Sullivan: Adoption Of Managed Security Services Rises In APAC To Counter Growing Cyber Attacks
SINGAPORE, Dec. 15, 2013 /PRNewswire/ -- Enterprises in the Asia-Pacific region are increasingly outsourcing network infrastructure security as they find themselves ill-equipped to handle complex and multiple cyber threats. The managed security services (MSS) market in the region is also gathering momentum due to stringent regulations, and the popularity of cloud computing as well as the bring-your-own-device trend. Organisations are now more aware of the benefits of security service models for protecting network infrastructure, gaining operational flexibility, supporting internal growth, and achieving performance objectives.
New analysis from Frost & Sullivan ( http://www.networksecurity.frost.com), Analysis of Asia-Pacific Managed Security Services (MSS) Market, 2012, finds that the market earned revenues of US$1.66 billion in 2012 and estimates this to reach US$5.34 billion in 2019.
"The improved quality of services and the enhanced service level agreements offered by professional security service providers play an important role in accelerating trust in third-party services among enterprises," said Frost & Sullivan Information and Communication Technologies Industry Manager Cathy Huang. "Organisations are also adopting security services as an add-on to their existing security setup."
However, the strong mindset towards product ownership will somewhat dampen the growing momentum of the market in the Asia-Pacific region. With the availability of affordable security products, enterprises prefer spending on dedicated appliances rather than purchasing services they would not wholly own.Nevertheless, the client base will widen significantly in the future as awareness of the advantages of MSS improves. Many enterprises, especially those from banking, financial services and insurance (BFSI) and government verticals, are already employing a phased approach towards MSS. "MSS providers must continue to expand their service portfolios to include emerging advanced services such as data loss protection, Web application firewall and security forensics," noted Huang. "Services pertaining to security analytics and risk management are likely to be introduced in the near future."
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