05 Apr 2017
SINGAPORE, April 6th, 2017 – IDC Asia/Pacific reports that the security services market in the Asia Pacific region excluding Japan (APeJ) reached US$4.23 billion in 2016 and will grow at a compounded annual growth rate (CAGR) of 20.5% between 2016 – 2020.
This market update was published recently in the report IDC Market Analysis Perspective: Asia/Pacific Security Services 2016 Update. The report also highlighted that among the different security services segments, managed security services accounted for 37% of the total market in 2016, or accounting for US$1.58 billion. The managed security services segment is expected to reach 3.86 billion in 2020. IDC believes the rise of professional and managed security services will be driven by the desire for better security outcomes and resilient security posture for organizations. In addition, other security services segments such as incident responses services, cloud-hosted security services will be high growth areas as well.
“These are challenging times for security professionals given the greater urgency for businesses to address cyber security. As organizations transform their organizations to be more digitally-enabled, they will fundamentally alter their enterprise technology and process architectures, data value chain, and risk appetite. These changes in turn create new security challenges which organizations have never faced before,” says Cathy Huang, Senior Research Manager for security services, IDC Asia/Pacific.
The IDC Market Analysis Perspective: Asia/Pacific Security Services 2016 Update also highlights commonly used services level agreement (SLA) metrics in managed security services engagements, and key advices when it comes to developing SLA metrics in security services engagements. "While it is critical to maintain the key SLA metrics focusing on availability of security infrastructure and efficiency in response times, organizations should also develop or at least have the attempt to develop a small number of intuitive SLA metrics that carry obvious impact to business outcomes," adds Huang.
IDC recommends leveraging external trusted security services advisors is a viable option for most organizations in APeJ since sourcing and skilling of suitably qualified individuals is highly challenging even for large organizations.
IDC Market Analysis Perspective: Asia/Pacific Security Services 2016 Update provides a concise current state view of Asia/Pacific security services market, including top trends, market sizing, forecast, and advice to service providers.
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