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Aug 2017 - Market Analysis Perspective - Doc # AP42968717

Market Analysis Perspective: Malaysia Cybersecurity, 2017 — The Growing Need to Build a Strong Cybersecurity Ecosystem

Authors: Sherrel Roche, Cathy Huang
On-line Presentation
Abstract

This IDC Market Analysis Perspective delivers a concise view of the current state of the Malaysia security services market, including top trends, market sizing, forecast, and advice to service providers. The presentation was designed to give clients the opportunity to engage with IDC's analysts on key issues that have an impact on the Malaysia security services market as well as future market directions.

With the rising threat incidence and sophistication of cyberattacks, cybersecurity is becoming a critical business as well as IT requirement for most organizations in Malaysia. A series of cybersecurity incidents over the last year has highlighted the seriousness of the situation. However, majority of enterprises remain woefully underprepared to deal with the cybersecurity challenges they face, and the situation is exacerbated by weak data protection and breach notification guidelines/regulations.

"Malaysia strongly needs to develop and strengthen its regulatory environment and data breach notification laws. The Government has an important role to play in ensuring effective cybersecurity, and regulators have to be more active and collaborative to shore up cybersecurity defenses. This in turn will enhance the security environment and open the market to new opportunities, new growth industries, global partnerships, and boost the presence of local security service providers internationally," states Sherrel Roche, senior market analyst, Business and IT Services Research, IDC Malaysia.

Coverage