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Australia and New Zealand (ANZ) Managed Security Services Market, Forecast to 2023

  • Report

  • 49 Pages
  • April 2020
  • Region: Australia, New Zealand
  • Frost & Sullivan
  • ID: 5028155

Lack of Skilled Professionals and Compliance Pressure Drive MSS Adoption

The Australian managed security services (MSS) market is growing at a steady pace, driven by greater cybersecurity outsourcing in the country. Australia has been the target of numerous, high-profile cyberattacks in recent years, which has spurred organizations into taking prompt action to secure their information technology (IT) and operational technology (OT) environments.

New Zealand has burgeoning capabilities in cybersecurity. However, its export market is lagging due to the lack of sales emphasis from the government and local market participants. Consequently, MSS growth in New Zealand is not as robust as that of its larger neighbor. However, MSS adoption will be supported by government-led initiatives such as CERT NZ, that is aimed at bolstering the country’s overall cybersecurity posture, and CORTEX, that provides a suite of capabilities to organizations of critical importance.

The Australia and New Zealand (ANZ) region has become a strategic market for global managed security service providers (MSSPs) that have a presence in the Asia-Pacific (APAC) region. Leading cybersecurity companies such as Verizon, Trustwave, DXC Technology, Secureworks, and Symantec have shown or are showing long-term commitments to ANZ, which is expected to drive growth in the region. As enterprises in the ANZ region face a shortage of skilled cybersecurity personnel, there are high rates of security management outsourcing, which drives growth in the MSS market.

Regulation and compliance pressure will have a bidirectional effect on the demand for MSS services in the region. While cybersecurity laws will increase the awareness and adoption of effective cybersecurity solutions, they will also bring in privacy and security concerns (e.g., Australia’s encryption laws).

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 AT&T, DXC Technology, IBM Security, Macquarie Telecom, NTT, Orange, Spark NZ, Telstra, Trustwave, Verizon, and other smaller MSSPs. The countries included in this study are Australia and New Zealand.

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 ANZ?
  • 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
  • Trustwave (a Singtel Company)
  • Telstra
  • Verizon

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

7. Appendix
  • Market Engineering Methodology
  • List of Exhibits

Companies Mentioned

A selection of companies mentioned in this report includes:

  • AT&T
  • DXC Technology
  • IBM Security
  • Macquarie Telecom
  • NTT
  • Orange
  • Spark NZ
  • Telstra
  • Trustwave (a Singtel Company)
  • Verizon