Australia Cybersecurity and MSSP Market
Description
Australia Cybersecurity and MSSP Market Overview
The Australia Cybersecurity and MSSP Market is valued at USD 7.6 billion, based on a five-year historical analysis. This growth is primarily driven by the increasing frequency and sophistication of cyber threats, heightened regulatory compliance requirements, and the rapid adoption of digital transformation initiatives across sectors. Organizations are investing heavily in advanced cybersecurity solutions to protect sensitive data, ensure business continuity, and maintain customer trust. Key market trends include the adoption of AI-based threat detection, zero-trust architecture, and cloud security solutions, as well as a surge in demand for managed security services due to the complexity of the threat landscape .
Key players in this market include Sydney, Melbourne, and Brisbane, which dominate due to their status as major business hubs with a high concentration of technology firms and financial institutions. The presence of skilled talent, robust digital infrastructure, and significant investment in cybersecurity innovation further solidifies their leadership in the national cybersecurity landscape .
In 2023, the Australian government implemented the Australian Cyber Security Strategy 2023, issued by the Department of Home Affairs. This binding instrument outlines a commitment of AUD 1.67 billion over four years to enhance national cybersecurity resilience, support businesses in adopting best practices, and strengthen incident response mechanisms across critical sectors. The strategy mandates operational standards for critical infrastructure, sector-specific risk management programs, and increased public-private collaboration .
Australia Cybersecurity and MSSP Market Segmentation
By Solution Type:
The solution type segmentation of the Australia Cybersecurity and MSSP Market includes various subsegments such as Network Security, Endpoint Security, Application Security, Cloud Security, Data Security, Identity and Access Management (IAM), Infrastructure Protection, Integrated Risk Management, and Other Solution Types. Among these, Network Security is the leading subsegment, driven by the increasing need to protect networks from unauthorized access and advanced cyber threats. Organizations are prioritizing investments in network security solutions to safeguard their infrastructure and data, reflecting a growing awareness of the importance of cybersecurity in maintaining operational integrity. The market also shows robust growth in cloud security and IAM, reflecting the shift to remote work and cloud-based environments .
By Service Type:
The service type segmentation encompasses Professional Services, Managed Security Services (MSS), Incident Response Services, Training and Awareness Services, and Other Services. Managed Security Services (MSS) is the dominant subsegment, as organizations increasingly outsource their cybersecurity needs to specialized providers. This trend is fueled by the complexity of cyber threats, the need for continuous monitoring and rapid response, and a shortage of in-house cybersecurity expertise. Professional services and incident response are also growing, driven by regulatory requirements and the need for rapid risk mitigation .
Australia Cybersecurity and MSSP Market Competitive Landscape
The Australia Cybersecurity and MSSP Market is characterized by a dynamic mix of regional and international players. Leading participants such as Telstra Corporation Limited, Optus Business, CyberCX, Tesserent Limited, Secureworks, Trustwave, IBM Security, Palo Alto Networks, Fortinet, Cisco Systems, Check Point Software Technologies, CrowdStrike, McAfee, Trend Micro, Splunk contribute to innovation, geographic expansion, and service delivery in this space.
Telstra Corporation Limited
1975
Melbourne, Australia
Optus Business
1992
Macquarie Park, Australia
CyberCX
2019
Melbourne, Australia
Tesserent Limited
2016
Melbourne, Australia
Secureworks
1999
Atlanta, USA
Company
Establishment Year
Headquarters
Company Size (Large, Medium, Small)
Annual Revenue (AUD/USD)
Revenue Growth Rate (%)
Number of Clients (Australia)
Market Share (%)
Customer Retention Rate (%)
Australia Cybersecurity and MSSP Market Industry Analysis
Growth Drivers
Increasing Cyber Threats:
The Australian Cyber Security Centre reported over
76,000 cybercrime incidents
in the most recent reporting period, representing a continued increase in cyber threats. This surge has prompted organizations to invest heavily in cybersecurity measures. The estimated cost of cybercrime to the Australian economy is approximately
AUD 33 billion
, highlighting the urgent need for robust cybersecurity solutions to protect sensitive data and infrastructure.
Regulatory Compliance Requirements:
Australia’s regulatory landscape is becoming increasingly stringent, with the introduction of the Notifiable Data Breaches Scheme and the Privacy Act amendments. In future, compliance costs for businesses are expected to rise by 20%, reaching
AUD 1.5 billion
. Organizations are compelled to adopt comprehensive cybersecurity frameworks to meet these regulations, driving demand for managed security services and solutions.
Rising Demand for Cloud Security Solutions:
The Australian cloud services market is valued at approximately
AUD 15 billion
, driven by the increasing adoption of cloud technologies. As businesses migrate to cloud environments, the demand for cloud security solutions is surging. In future,
70%
of Australian organizations reported prioritizing cloud security investments, reflecting a shift towards securing cloud-based assets against evolving cyber threats.
Market Challenges
Shortage of Skilled Cybersecurity Professionals:
The Australian cybersecurity workforce is facing a significant skills gap, with an estimated shortage of
over 25,000 professionals
in the most recent period. The Australian government has allocated
AUD 50 million
to address this issue through training and education initiatives, but the demand for skilled professionals continues to outpace supply.
High Costs of Cybersecurity Solutions:
The average annual expenditure on cybersecurity solutions for Australian businesses is projected to reach
AUD 1.2 million
in future. The high costs associated with advanced security technologies and services can deter small and medium enterprises (SMEs) from investing adequately in cybersecurity. This financial barrier poses a challenge to achieving comprehensive protection against cyber threats across various sectors.
Australia Cybersecurity and MSSP Market Future Outlook
The future of the Australia cybersecurity and MSSP market is poised for significant transformation, driven by technological advancements and evolving threat landscapes. As organizations increasingly adopt zero trust security models and integrate cybersecurity with IT operations, the demand for innovative solutions will rise. Additionally, the growing emphasis on data privacy and protection will further shape the market, compelling businesses to enhance their cybersecurity frameworks and invest in advanced technologies to mitigate risks effectively.
Market Opportunities
Expansion of Managed Security Service Providers (MSSPs):
The MSSP market in Australia is expected to grow significantly, with an estimated increase in service providers by
25%
in future. This expansion presents opportunities for businesses to leverage outsourced expertise, enhancing their cybersecurity posture while managing costs effectively.
Increased Investment in Cybersecurity Startups:
Venture capital investment in Australian cybersecurity startups reached
AUD 300 million
in the most recent period, reflecting a growing interest in innovative security solutions. This trend is expected to continue, fostering the development of cutting-edge technologies that address emerging cyber threats and enhance overall security resilience.
Please Note: It will take 5-7 business days to complete the report upon order confirmation.
The Australia Cybersecurity and MSSP Market is valued at USD 7.6 billion, based on a five-year historical analysis. This growth is primarily driven by the increasing frequency and sophistication of cyber threats, heightened regulatory compliance requirements, and the rapid adoption of digital transformation initiatives across sectors. Organizations are investing heavily in advanced cybersecurity solutions to protect sensitive data, ensure business continuity, and maintain customer trust. Key market trends include the adoption of AI-based threat detection, zero-trust architecture, and cloud security solutions, as well as a surge in demand for managed security services due to the complexity of the threat landscape .
Key players in this market include Sydney, Melbourne, and Brisbane, which dominate due to their status as major business hubs with a high concentration of technology firms and financial institutions. The presence of skilled talent, robust digital infrastructure, and significant investment in cybersecurity innovation further solidifies their leadership in the national cybersecurity landscape .
In 2023, the Australian government implemented the Australian Cyber Security Strategy 2023, issued by the Department of Home Affairs. This binding instrument outlines a commitment of AUD 1.67 billion over four years to enhance national cybersecurity resilience, support businesses in adopting best practices, and strengthen incident response mechanisms across critical sectors. The strategy mandates operational standards for critical infrastructure, sector-specific risk management programs, and increased public-private collaboration .
Australia Cybersecurity and MSSP Market Segmentation
By Solution Type:
The solution type segmentation of the Australia Cybersecurity and MSSP Market includes various subsegments such as Network Security, Endpoint Security, Application Security, Cloud Security, Data Security, Identity and Access Management (IAM), Infrastructure Protection, Integrated Risk Management, and Other Solution Types. Among these, Network Security is the leading subsegment, driven by the increasing need to protect networks from unauthorized access and advanced cyber threats. Organizations are prioritizing investments in network security solutions to safeguard their infrastructure and data, reflecting a growing awareness of the importance of cybersecurity in maintaining operational integrity. The market also shows robust growth in cloud security and IAM, reflecting the shift to remote work and cloud-based environments .
By Service Type:
The service type segmentation encompasses Professional Services, Managed Security Services (MSS), Incident Response Services, Training and Awareness Services, and Other Services. Managed Security Services (MSS) is the dominant subsegment, as organizations increasingly outsource their cybersecurity needs to specialized providers. This trend is fueled by the complexity of cyber threats, the need for continuous monitoring and rapid response, and a shortage of in-house cybersecurity expertise. Professional services and incident response are also growing, driven by regulatory requirements and the need for rapid risk mitigation .
Australia Cybersecurity and MSSP Market Competitive Landscape
The Australia Cybersecurity and MSSP Market is characterized by a dynamic mix of regional and international players. Leading participants such as Telstra Corporation Limited, Optus Business, CyberCX, Tesserent Limited, Secureworks, Trustwave, IBM Security, Palo Alto Networks, Fortinet, Cisco Systems, Check Point Software Technologies, CrowdStrike, McAfee, Trend Micro, Splunk contribute to innovation, geographic expansion, and service delivery in this space.
Telstra Corporation Limited
1975
Melbourne, Australia
Optus Business
1992
Macquarie Park, Australia
CyberCX
2019
Melbourne, Australia
Tesserent Limited
2016
Melbourne, Australia
Secureworks
1999
Atlanta, USA
Company
Establishment Year
Headquarters
Company Size (Large, Medium, Small)
Annual Revenue (AUD/USD)
Revenue Growth Rate (%)
Number of Clients (Australia)
Market Share (%)
Customer Retention Rate (%)
Australia Cybersecurity and MSSP Market Industry Analysis
Growth Drivers
Increasing Cyber Threats:
The Australian Cyber Security Centre reported over
76,000 cybercrime incidents
in the most recent reporting period, representing a continued increase in cyber threats. This surge has prompted organizations to invest heavily in cybersecurity measures. The estimated cost of cybercrime to the Australian economy is approximately
AUD 33 billion
, highlighting the urgent need for robust cybersecurity solutions to protect sensitive data and infrastructure.
Regulatory Compliance Requirements:
Australia’s regulatory landscape is becoming increasingly stringent, with the introduction of the Notifiable Data Breaches Scheme and the Privacy Act amendments. In future, compliance costs for businesses are expected to rise by 20%, reaching
AUD 1.5 billion
. Organizations are compelled to adopt comprehensive cybersecurity frameworks to meet these regulations, driving demand for managed security services and solutions.
Rising Demand for Cloud Security Solutions:
The Australian cloud services market is valued at approximately
AUD 15 billion
, driven by the increasing adoption of cloud technologies. As businesses migrate to cloud environments, the demand for cloud security solutions is surging. In future,
70%
of Australian organizations reported prioritizing cloud security investments, reflecting a shift towards securing cloud-based assets against evolving cyber threats.
Market Challenges
Shortage of Skilled Cybersecurity Professionals:
The Australian cybersecurity workforce is facing a significant skills gap, with an estimated shortage of
over 25,000 professionals
in the most recent period. The Australian government has allocated
AUD 50 million
to address this issue through training and education initiatives, but the demand for skilled professionals continues to outpace supply.
High Costs of Cybersecurity Solutions:
The average annual expenditure on cybersecurity solutions for Australian businesses is projected to reach
AUD 1.2 million
in future. The high costs associated with advanced security technologies and services can deter small and medium enterprises (SMEs) from investing adequately in cybersecurity. This financial barrier poses a challenge to achieving comprehensive protection against cyber threats across various sectors.
Australia Cybersecurity and MSSP Market Future Outlook
The future of the Australia cybersecurity and MSSP market is poised for significant transformation, driven by technological advancements and evolving threat landscapes. As organizations increasingly adopt zero trust security models and integrate cybersecurity with IT operations, the demand for innovative solutions will rise. Additionally, the growing emphasis on data privacy and protection will further shape the market, compelling businesses to enhance their cybersecurity frameworks and invest in advanced technologies to mitigate risks effectively.
Market Opportunities
Expansion of Managed Security Service Providers (MSSPs):
The MSSP market in Australia is expected to grow significantly, with an estimated increase in service providers by
25%
in future. This expansion presents opportunities for businesses to leverage outsourced expertise, enhancing their cybersecurity posture while managing costs effectively.
Increased Investment in Cybersecurity Startups:
Venture capital investment in Australian cybersecurity startups reached
AUD 300 million
in the most recent period, reflecting a growing interest in innovative security solutions. This trend is expected to continue, fostering the development of cutting-edge technologies that address emerging cyber threats and enhance overall security resilience.
Please Note: It will take 5-7 business days to complete the report upon order confirmation.
Table of Contents
91 Pages
- 1. Australia Cybersecurity and MSSP Market Overview
- 1.1. Definition and Scope
- 1.2. Market Taxonomy
- 1.3. Market Growth Rate
- 1.4. Market Segmentation Overview
- 2. Australia Cybersecurity and MSSP Market Size (in USD Bn), 2019–2024
- 2.1. Historical Market Size
- 2.2. Year-on-Year Growth Analysis
- 2.3. Key Market Developments and Milestones
- 3. Australia Cybersecurity and MSSP Market Analysis
- 3.1. Growth Drivers
- 3.1.1 Increasing Cyber Threats
- 3.1.2 Regulatory Compliance Requirements
- 3.1.3 Rising Demand for Cloud Security Solutions
- 3.1.4 Growth of Remote Work and Digital Transformation
- 3.2. Restraints
- 3.2.1 Shortage of Skilled Cybersecurity Professionals
- 3.2.2 High Costs of Cybersecurity Solutions
- 3.2.3 Rapidly Evolving Threat Landscape
- 3.2.4 Complexity of Integration with Existing Systems
- 3.3. Opportunities
- 3.3.1 Expansion of Managed Security Service Providers (MSSPs)
- 3.3.2 Increased Investment in Cybersecurity Startups
- 3.3.3 Development of AI and Machine Learning in Security
- 3.3.4 Growing Awareness of Cybersecurity Among SMEs
- 3.4. Trends
- 3.4.1 Adoption of Zero Trust Security Models
- 3.4.2 Integration of Cybersecurity with IT Operations
- 3.4.3 Rise of Cyber Insurance
- 3.4.4 Focus on Data Privacy and Protection
- 3.5. Government Regulation
- 3.5.1 Australian Cyber Security Strategy
- 3.5.2 Notifiable Data Breaches Scheme
- 3.5.3 Essential Eight Cybersecurity Framework
- 3.5.4 Privacy Act Amendments
- 3.6. SWOT Analysis
- 3.7. Stakeholder Ecosystem
- 3.8. Competition Ecosystem
- 4. Australia Cybersecurity and MSSP Market Segmentation, 2024
- 4.1. By Solution Type (in Value %)
- 4.1.1 Network Security
- 4.1.2 Endpoint Security
- 4.1.3 Application Security
- 4.1.4 Cloud Security
- 4.1.5 Others
- 4.2. By Service Type (in Value %)
- 4.2.1 Professional Services
- 4.2.2 Managed Security Services (MSS)
- 4.2.3 Incident Response Services
- 4.2.4 Training and Awareness Services
- 4.3. By Deployment Mode (in Value %)
- 4.3.1 On-Premises
- 4.3.2 Cloud-Based
- 4.3.3 Hybrid
- 4.4. By Organization Size (in Value %)
- 4.4.1 Small and Medium Enterprises (SMEs)
- 4.4.2 Large Enterprises
- 4.5. By End-User Industry (in Value %)
- 4.5.1 Banking, Financial Services, and Insurance (BFSI)
- 4.5.2 Government & Defense
- 4.5.3 Healthcare
- 4.5.4 IT & Telecommunications
- 4.5.5 Others
- 4.6. By Region (in Value %)
- 4.6.1 New South Wales
- 4.6.2 Victoria
- 4.6.3 Queensland
- 4.6.4 Western Australia
- 4.6.5 South Australia
- 4.6.6 Tasmania
- 4.6.7 Northern Territory
- 4.6.8 Australian Capital Territory
- 5. Australia Cybersecurity and MSSP Market Cross Comparison
- 5.1. Detailed Profiles of Major Companies
- 5.1.1 Telstra Corporation Limited
- 5.1.2 Optus Business
- 5.1.3 CyberCX
- 5.1.4 Tesserent Limited
- 5.1.5 Secureworks
- 5.2. Cross Comparison Parameters
- 5.2.1 Company Size (Large, Medium, Small)
- 5.2.2 Annual Revenue (AUD/USD)
- 5.2.3 Number of Clients (Australia)
- 5.2.4 Market Share (%)
- 5.2.5 Customer Retention Rate (%)
- 6. Australia Cybersecurity and MSSP Market Regulatory Framework
- 6.1. Compliance Requirements and Audits
- 6.2. Certification Processes
- 7. Australia Cybersecurity and MSSP Market Future Size (in USD Bn), 2025–2030
- 7.1. Future Market Size Projections
- 7.2. Key Factors Driving Future Market Growth
- 8. Australia Cybersecurity and MSSP Market Future Segmentation, 2030
- 8.1. By Solution Type (in Value %)
- 8.2. By Service Type (in Value %)
- 8.3. By Deployment Mode (in Value %)
- 8.4. By Organization Size (in Value %)
- 8.5. By End-User Industry (in Value %)
- 8.6. By Region (in Value %)
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