Increasingly Sophisticated Threat Landscape Drives Growth and Uptake of Managed Security Services (MSS) in APAC
Complex business environment and insufficient cybersecurity make the adoption of MSS a top technology strategy
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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.
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