SYDNEY, Dec. 16, 2013 /PRNewswire/ -- The rising sophistication of the threat landscape is forcing enterprises to tap into the security expertise offered by professional service providers, thus driving the managed security services (MSS) market in Australia and New Zealand (ANZ). Even enterprises with an established in-house security setup are employing security services to complement their existing capabilities and enhance their overall security posture.
New analysis from Frost & Sullivan ( http://www.networksecurity.frost.com), Analysis of Asia-Pacific Managed Security Services (MSS) Market 2012, finds that the market in ANZ earned revenues of $591.6 million in 2012 and estimated this to reach $1,609.4 million in 2019.
"The growing recognition among most small and medium businesses (SMBs) about the complexities of the threat environment, coupled with their lack of security expertise and resource constraints, means that the value proposition associated with MSS resonates strongly with them," said Frost & Sullivan Information and Communication Technologies Industry Manager Cathy Huang. "Large enterprises in ANZ too are keen to leverage on the security know-how of MSS market participants, given the dynamic nature of cyber threats nowadays."
The popularity of cloud computing and the bring-your-own-device trend has also increased the appeal of MSS. As a result, service providers are looking to bundle security services into cloud and mobility service packages to allay security concerns among enterprises regarding the threat exposure posed by the cloud and mobile devices.However, the strong mindset towards product ownership will somewhat dampen the growing momentum of the market in ANZ. With the availability of affordable security products, enterprises prefer spending on dedicated appliances rather than purchasing services they would not wholly own. Nevertheless, owing to the escalating importance of security in the age of cloud computing and big data, the future of MSS in ANZ is expected to be shaped by enterprise requirements for greater visibility and predictability in their IT footprint. The mature security mindset in ANZ will not only drive uptake, but is expected to boost the demand for advanced MSS capabilities.