Managed Security Services Market in APAC to grow over 21% till 2023

reogma|Managed Security Services Market in APAC to grow over 21% till 2023

The Asia-Pacific is the fastest growing among all regions in the Managed Security Services Market clocking a healthy CAGR of 21.1% in the forecast period(2018-2023).

The market size is set to significantly grow from USD 4.2 Billion in 2018 to USD 10.2 Billion in 2023.

  • Definition / Scope
  • Market Overview
  • Market Risks
  • Top Market Opportunities
  • Market Trends
  • Industry Challenges
  • Technology Trends
  • Pricing Trends
  • Regulatory Trends
  • Other Key Market Trends
  • Market Size and Forecast
  • Market Outlook
  • Distribution Chain Analysis
  • Competitive Landscape
  • Competitive Factors
  • Key Market Players
  • Strategic Conclusion
  • References
  • Appendix

Definition / Scope

Managed Security Services is a systematic approach to manage an Organization's security needs. These services maybe conducted in-house or outsourced to a service provider that supervises other companies network and information system security.

Managed Security Services are network security services that have been outsourced to a service provider. A company providing such a service is called Managed Security Services Provider (MSSP).

The early MSSPs are the Internet Service Providers (ISPs) in the mid-late 1990s. Initially ISPs sold customers a firewall appliance as Customer Premises Equipment and for an additional fee that would manage the customer owned firewall over a dial-up connection.

Businesses opt for Managed Security services to eliminate the issues they face daily related to information security such as targeted malware, customer data theft, skills shortages and resource constraints.

There are readily available products from a number of vendors to help organize and guide the procedures involved. This alleviate the burden of performing the tasks manually.

The global Managed Security Services market size was USD 20.81 Billion in 2017 and is expected to reach USD 47.65 Billion by 2023, growing at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period. The base year considered for this study is 2018, and the forecast period is 2018–2023.

The current market size of the Asia-Pacific Managed Security Services market is USD 4.2 Billion in 2018 and it is expected to be growing to USD 10.2 Billion in 2023 growing at a healthy CAGR of 21.1%.

Functions of Managed Security Service

  1. Monitoring and management of intrusion detection systems and firewalls,
  2. Overseeing patch management and upgrades,
  3. Performing security assessments and security audits and
  4. Responding to emergencies

Categories of Managed Security Service

On-site consulting

On-consulting is a means of consulting which provides customized assessments on business risks, identifying key business requirements for security and framing of security policies and processes. It also includes assessments of security architecture and design including technology, business risks, technical risks and procedures.

This may also include security product integration and On-site mitigation support after the occurrence of an intrusion,including emergency incident response and forensic analysis.

Perimeter management of the client's network

This service involves installing, upgrading, and managing the firewall, Virtual Private Network (VPN) and/or intrusion detection hardware and software, e-mail, and commonly performing configuration changes on behalf of the customer.

Management includes monitoring, maintaining the firewall's traffic routing rules, and generating regular traffic and management reports to the customer. Intrusion detection management, either at the network level or at the individual host level, involves providing intrusion alerts to a customer, keeping up to date with new defenses against intrusion, and regularly reporting on intrusion attempts and activity.

Content filtering services may be provided by; such as, email filtering) and other data traffic filtering.

Product resale

This is not clearly a managed security service by itself,It serves as a major revenue generator for Managed Security Service Providers (MSSP). Product resale offers a number of value-added hardware and software for a variety of security-related tasks.Archival of Customer data is one such service.

Managed security monitoring

Managed security monitoring includes day-to-day monitoring activities and interpretation of major system events throughout the network including unauthorized behavior, malicious hacks, denial of service (DoS), anomalies, and trend analysis. It is the first step in an incident response process.

Penetration testing and vulnerability assessments

It includes one-time or periodic software scans or hacking attempts in order to detect the vulnerabilities within a technical and logical perimeter. It generally does not include assessment of security threat throughout the network, nor does it accurately reflect personnel-related exposures due to disgruntled employees, social engineering, etc.Reports are regularly generated and are provided to the clients.

Compliance monitoring

Compliance monitoring includes monitoring event logs for change management but not for checking intrusions. This service identifies modifications to a system that violate a formal security policy for example, if a rogue administrator grants himself or herself too much access to a system. In short, it measures compliance to a technical risk model.

Segmentation

Managed Security Services Market By Application

Based on the Application type MSS is classified into the following types:

  1. Intrusion Prevention / Detection System
  2. Distributed Denial of Services (DDoS)
  3. Unified threat management
  4. Secured information and event management (SIEM)
  5. Firewall management
  6. Endpoint Security
  7. Others

Managed Security Services Market By Deployment Type

On the basis of Deployment type MSS market can be categorized into

  1. Hosted and Cloud Based Managed Security Services
  2. On-Premise or Customer Premise Equipment (CPE)

Managed Security Services Market By Organization Size

The Managed Security Services market based on the organization size is classified into

  1. Small Medium Enterprises
  2. Large Enterprises

Managed Security Services Market By Vertical

On the basis of Vertical Managed Security Services market can be classified into

  1. BFSI
  2. Healthcare
  3. Manufacturing
  4. Retail
  5. Telecommunication & IT
  6. Others

reogma|Managed Security Services Market in APAC to grow over 21% till 2023

reogma|Managed Security Services Market in APAC to grow over 21% till 2023


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The Asia-Pacific is the fastest growing among all regions in the Managed Security Services Market clocking a healthy CAGR of 21.1% in the forecast period(2018-2023). The market size is set to significantly grow from USD 4.2 Billion in 2018 to USD 10.2 Billion in 2023. Definition / Scope Market Overview […]
reogma|Managed Security Services Market in APAC to grow over 21% till 2023reogma|Managed Security Services Market in APAC to grow over 21% till 2023

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