NewswireToday - /newswire/ -
Sydney, Australia, 2008/02/01 - New analysis from global growth consulting company, Frost & Sullivan, Asia Pacific Managed Security Services 2007 – 2013, reveals that revenues in the Australian market totalled AU$240 million in 2006 and is forecasted to be worth AU$880 million by end-20.
The Australian managed security services (MSS) market witnessed solid double digit growth in 2006 due to the strong economy and will continue to grow with increasing adoption of security products.
New analysis from global growth consulting company, Frost & Sullivan (www.frost.com), Asia Pacific Managed Security Services 2007 – 2013, reveals that revenues in the Australian market totalled AU$240 million in 2006 and is forecasted to be worth AU$880 million by end-2013, growing at a CAGR of 20 per cent (2007-2013).
Mr. Arun Chandrasekaran, industry analyst at Frost & Sullivan, comments, "although the market is still in an early growth stage in Asia Pacific, MSS model has started gaining wide acceptance particularly in advanced countries such as Australia, New Zealand, Japan, Korea and Hong Kong. In 2006, countries such as India showed promising growth due to the liberalisation of the telecom sector".
"Additionally, there is a growing realisation that information security investments should no longer be viewed as IT investments but more strategically in the business risk context. Engaging with a strong MSSP allows organisations to share risk management and gain access to skilled resources for risk mitigation," continues Mr. Chandrasekaran.
Security outsourcing is extending beyond the confines of technology to a more strategic business engagement that has wider ramifications for modern enterprises due to its importance in preserving the reputation and brand name of the firm.
To drive growth, MSSPs (managed security service providers) are offering increasing flexibility to their customers in the engagement model - fully managed/monitored/co-managed/pure implementation and in terms of the location (hosted vs. CPE). Local security operations centres (SOC) and data retention is also seen as a key competitive tool in the Australian market.
MSSPs have been expanding their services from the traditional perimeter security to penetrate deep into the core of the infrastructure. The outsourcers and system integrators have an early advantage in this due to their presence in the internal network. Telecom providers and security vendors have been partnering with these system integrators as a go-to-market strategy.
Adds Mr. Chandrasekaran, "with globalisation and mobility, the SMB (small & medium businesses) are facing the same issues as their enterprise brethren such as fading perimeters, complex converged networks and data security issues".
"Hence the security requirements for SMB in Australia are not too different from the large enterprises. However, the awareness levels and willingness to pay still separate these two horizontal segments".
Asia Pacific Managed Security Services 2007 – 2013 report is part of the Frost & Sullivan Asia Pacific Network Security subscription, which also includes research on the following segments: Asia Pacific Network Technology markets and ICT Market Engineering Asia Pacific. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Analyst interviews are available to the press.
If you are interested in a virtual brochure, which provides the methodology adopted for this research, a brief synopsis along with a complete table of contents, then send an email to Sharmin Jassal, Corporate Communications, at sharmin.jassal[.]frost.com with your full name, company name, title, telephone number, fax number, city, state, country and email address. Upon receipt of the above information, an overview will be sent to you by email.
About Frost & Sullivan
Frost & Sullivan, the Global Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.