Managed Security Services (MSS) in Asia-Pacific (APAC) region will more than triple by 2019, climbing to an estimated $5.34 billion according to industry analyst firm Frost & Sullivan.
Enterprises in the APAC region are being driven to increasingly outsource network infrastructure security as they find themselves “ill-equipped to handle complex and multiple cyber threats.” Frost & Sullivan said in a release on a report titled: Analysis of Asia-Pacific Managed Security Services (MSS) Market, 2012. It said the market earned $1.66 billion in revenues in 2012.
The release also cited growing compliance mandates, cloud computing and bring-your-own-device (BYOD) for the uptick in MSS adoption and called on MSS providers to augment their offerings. It also said improved quality of services and enhanced service level agreements (SLA) were a key factor in building enterprise in third-party services.
“The improved quality of services and the enhanced service level agreements offered by professional security service providers play an important role in accelerating trust in third-party services among enterprises,” Frost & Sullivan Information and Communication Technologies Industry Manager Cathy Huang said in the release. “Organizations are also adopting security services as an add-on to their existing security setup.”