TECH SUPPLIER Sep 2018 - Market Analysis Perspective - Doc # AP43913118
Market Analysis Perspective: Managed Security Services Overview – Malaysian Organizations Still Challenged to Realize the Value of Investing More in Cybersecurity
This IDC Market Analysis Perspective delivers a concise view of the current state of the Malaysia managed security services market, including trends, end-user enterprise perspective, market size, market forecast, competitive landscape, and advice to service providers. The presentation was designed to give clients the opportunity to engage with IDC analysts on key issues that have an impact on the Malaysia managed security services market as well as future market directions.
With the increasing frequency and sophistication of cyberattacks, security is becoming a critical investment area for most organizations globally. While cybersecurity has gained attention for organizations' business and IT budgets, IT departments still struggle to keep up with the rapidly evolving security technologies, products, and solutions. CIOs and CISOs continue to grapple with realizing the value of investing more into IT security until they have experienced an attack of some form, making it a challenging market for security vendors and service providers. This is true for organizations particularly in the developing Southeast Asian markets such as Malaysia, Thailand, Indonesia, and the Philippines.
"The continued frequency of data breaches and security incidents in Malaysia has created awareness around the importance of managed security services, with close to 65% of organizations stating that they are currently deploying managed security services. Currently organizations are still focused on securing their endpoints and network, however, due to the sophistication of cyberattacks there is a growing need to secure 3rd Platform technologies as well," states Sherrel Roche, senior market analyst, IDC Asia/Pacific Services Research group. "Business leaders have to make tough choices to address issues that are 'happening now' versus those that 'might happen in the future' and rationalize security risks."
Firewall and VPN security appliance products, Governance, risk and compliance infrastructure, Identity and access management, Intrusion detection and prevention, Network security, Secure content and threat management, Security and vulnerability management, Security management, Unified threat management