Growth Prospects Powering the Future of the Indian Managed Security Services (MSS) Industry
While COVID-19 dampens the growth of managed security services in India in 2020, in the long run, MSS is expected to grow at a CAGR of 21.8% through 2024
Currently, most enterprises are undergoing a phase of digital transformation. Investments in emerging technologies have increased substantially, helping companies to bring in operational efficiency and address the growing customer demands. While each of these technologies has brought in a competitive edge among businesses, the concern around digital security has increased manifold.
Legacy security solutions were built on the old framework of securing just the perimeter. Enterprises could draw a line and were somewhat sure on how to protect themselves. However, with growing concepts such as cloud and enterprise mobility, the demarcation of the perimeter has faded away. Modern enterprises have not only adopted the cloud but are also considering moving critical assets on the hosted environment. This would require the use of security tools that protect data on the cloud. The managed model of security services helps enterprises get access to the latest security technologies without spending heavily on procuring capital infrastructure. While MSS has been in place for quite some time, a shift in offerings from a customer premise equipment (CPE) based to Hosted MSS is observed in India.