Australia and New Zealand (ANZ) Managed Security Services Market, Forecast to 2021
The ANZ economy has been relatively on the downside in 2016. Crude oil prices slumped, which directly impacted the strength of the currencies, both the Australian Dollar and the Kiwi. As the market carries a weak sentiment, enterprises are cautious of their spending. Nonetheless, MSS demand in the Australian market remained positive, growing at 12% on a YoY basis in 2016. The strong presence and high maturity of the local MSS participants will support in mitigating the constantly advancing threat landscape. In 2016, the Australian government launched a $230 million Cyber Security Strategy, containing 33 new initiatives to address cyber security threats and take advantage of business opportunities. In early 2017, local authorities established an industry-led Australian Cyber Security Growth Network to develop a national approach for cyber security innovation. The implementation and active involvement of government have created strong awareness among the enterprises. The agility and flexibility offered by cloud-based model is likely to drive adoption of such services in the ANZ MSS market.
In addition to market growth analysis, the study highlights the driving forces of the managed security services (MSS) market. The shortage of cyber security professionals with strong expertise was the top factor driving enterprises to engage with MSSPs to help them cope with new security challenges. The evolution of advanced threats continued to cause greater operational pressure on companies, driving them to look at MSSPs to reduce the pressure and better security threat management. The introduction and amendment of cyber security laws and regulations are urging companies to focus more on regulatory compliance. The shift from CapEx to OpEx continued to take place across the APAC region, prompting companies to outsource parts of their security practices to focus more on the revenue-generating operations.
Market trends have been analyzed for the period 2015 to 2021, with 2016 as the base year. Hosted security services (HSS) and customer-premises equipment (CPE)-based management and monitoring services are the key service segments in this study. Vertical segmentation includes the government, banking, financial services, and insurance (BFSI), service provider, manufacturing, education, and other sectors including pharmaceuticals, retail, logistics, oil and gas, energy, mining, agriculture, Information Technology (IT)/IT-enabled services (ITeS), eGaming, eCommerce, and business process outsourcing (BPO).
Companies mentioned in the ANZ MSS vendor analysis include NTT, IBM Security, Singtel Cyber Security, Verizon, Telstra, Symantec, Orange Business Services, BT, NEC, and Tech Mahindra. The countries included in this study are Australia and New Zealand.
Key Issues Addressed
Is the MSS market growing? How long will it continue to grow, and at what rate?
Are the existing competitors structured well to meet customer needs?
What were the key services that were adopted the most by customers in the region in 2016?
How was the competitive landscape in ANZ?
Will MSSPs be replaced by the new trends, such as in-sourcing and cloud-based security services?
How will the market be shaped in the next 5 years?
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