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ASEAN Managed Security Services Market, Forecast to 2023

  • Report

  • May 2020
  • Region: Asia Pacific
  • Frost & Sullivan
  • ID: 5027256

Lack of Skilled Professionals and Compliance Pressure Drive MSS Adoption

The Association of Southeast Asian Nations (ASEAN) region has been one of the fastest growing digital economies in Asia-Pacific, driven by various government initiatives supporting digitalization. The rapid increase in the use of the Internet and advances in technology have significantly contributed to the growth of a digital economy in the region. However, the accelerating pace of digital transformation has also exposed the region to increased security risks and vulnerabilities.

To address these challenges, the Thai and Vietnamese governments introduced the Cybersecurity Act in 2019. Following the introduction of the European Union (EU) General Data Protection Regulation (GDPR) in 2018, many ASEAN countries have started to review their data security policies. Thailand introduced its Personal Data Protection Act in 2019 (which came into effect in May 2019). Malaysia and the Philippines are rolling out their strategic initiatives to improve cyber resilience. These initiatives significantly drive security investments in the region.

Faced with growing pressure to ensure compliance with stringent regulations, enterprises are increasingly looking to partner with industry experts such as managed security service providers (MSSPs) to better manage their security operations while embarking on a digital transformation journey. Looking ahead, there will be a rising need for enterprises to engage MSSPs under a hybrid model. A combination of both hosted security services and customer-premises equipment (CPE)-based management and monitoring services can help improve security operations, providing businesses with greater flexibility and efficiency.

In addition to providing a market growth analysis, this study highlights the key drivers in the managed security services market. These include persistent lack of cybersecurity professionals; proliferation of cyberattacks and a growing threat landscape for enterprises and governments; growing risk and security awareness among end-users in the APAC region; and government support for cybersecurity development and adoption.

Market trends are analyzed from 2017 to 2023, taking 2018 as the base year. MSS is the key focus area of this study. The vertical segmentation includes government; banking, financial services, and insurance (BFSI); service provider; manufacturing; education; and other sectors (including pharmaceuticals, retail, logistics, oil and gas, energy, mining, agriculture, IT/ITES, eGaming, eCommerce, and BPOs).

Companies mentioned in the total MSS market's competitive landscape include BT, CAT Cyfence, DXC Technology, Ensign, IBM Security, NTT, Orange, Symantec, Tata Communications, TM ONE, Trustwave, and other smaller MSSPs. The countries included in this study are Singapore, Malaysia, Indonesia, Philippines, Thailand, and Vietnam.

Key Issues Addressed

  • Is the market growing? If yes, how long will it continue to grow and at what rate?
  • Which are the key services adopted by customers in the region?
  • How is the competitive landscape in ASEAN?
  • Will MSSPs be replaced by new trends such as insourcing and cloud-based security services?
  • How will the market evolve in the next 5 years?

Table of Contents

1. Market Overview
  • Market Definitions
  • Managed Security Service Types
  • Market Overview - Definitions
  • Key Questions this Study will Answer
  • Market Segmentation
  • Research Scope
  • Geographic Coverage

2. Forecasts and Trends - MSS Market
  • Key Findings
  • Market Engineering Measurements
  • Revenue Forecast
  • Percent Revenue Forecast by Segment
  • Revenue Forecast by Segment
  • Revenue Forecast Discussion by Segment
  • Percent Revenue Forecast by Country
  • Revenue Forecast Discussion by Country

3. Market Share and Competitive Analysis
  • Competitive Analysis
  • Competitive Environment

4. Growth Opportunities and Call to Action
  • Growth Opportunity 1 - Continued Trend Toward the Outsourcing of Cybersecurity Operations
  • Growth Opportunity 2 - Enterprises Shifting to the Cloud and MSSPs to Help Protect These Multi-cloud Environments
  • Growth Opportunity 3 - Hybrid MSS Capabilities to Become More Important
  • Growth Opportunity 4 - Larger, Mature Enterprises Looking for More Advanced Security Services
  • 4 Major Growth Opportunities
  • Strategic Imperatives for Success and Growth

5. Managed Security Services - Vendor Analysis
  • Availability and Completeness of MSS Solutions
  • Regional Geographic Coverage of Managed Security Service Offerings
  • Country/Region Legends for Security Operations Centers
  • IBM Security
  • NTT
  • Tata Communications
  • Trustwave (a Singtel Company)

6. The Last Word
  • 3 Big Predictions
  • Legal Disclaimer

7. Appendix
  • Market Engineering Methodology
  • List of Exhibits

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • BT
  • CAT Cyfence
  • DXC Technology
  • Ensign
  • IBM Security
  • NTT
  • Orange
  • Symantec
  • Tata Communications
  • TM ONE
  • Trustwave