The Asia Pacific Managed Security Services Market is expected to witness market growth of 15.7% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Managed Security Services Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $7.34 billion by 2031. The Japan market is registering a CAGR of 15% during 2024-2031. Additionally, the India market is expected to showcase a CAGR of 15.2% during 2024-2031.
The adoption of these Services has surged in recent years, fuelled by several factors. The frequency and sophistication of cyberattacks have escalated, prompting organizations to seek professional assistance in managing security. High-profile breaches across various industries have underscored the necessity for comprehensive security solutions.
Many organizations, especially small and medium-sized enterprises (SMEs), struggle to recruit and retain skilled cybersecurity professionals. MSS providers bridge this gap by offering access to a team of experts with the latest knowledge and tools. Maintaining an in-house security team can be prohibitively expensive, particularly for smaller organizations.
The rising BFSI sector in India has become a pivotal driver of economic growth, significantly influencing this market. India’s banking landscape is recognized as one of the most stable globally, with a remarkable increase in financial inclusion. This expansion has enhanced access to banking services and underscored the necessity for robust cybersecurity measures. the rapid expansion of China’s information technology (IT) sector has significant implications for this market.
According to the State Council of the People’s Republic of China, the software and information technology services industry generated an impressive 12.33 trillion yuan (approximately 1.73 trillion U.S. dollars) in business revenues in 2023. This represents a robust year-on-year growth rate of 13.4%, with an increase of 2.2 percentage points compared to the previous year. Therefore, the growth of the BFSI sector in India and the booming IT sector in China are intricately linked to the expansion of the managed security services market.
The China market dominated the Asia Pacific Managed Security Services Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $7.34 billion by 2031. The Japan market is registering a CAGR of 15% during 2024-2031. Additionally, the India market is expected to showcase a CAGR of 15.2% during 2024-2031.
The adoption of these Services has surged in recent years, fuelled by several factors. The frequency and sophistication of cyberattacks have escalated, prompting organizations to seek professional assistance in managing security. High-profile breaches across various industries have underscored the necessity for comprehensive security solutions.
Many organizations, especially small and medium-sized enterprises (SMEs), struggle to recruit and retain skilled cybersecurity professionals. MSS providers bridge this gap by offering access to a team of experts with the latest knowledge and tools. Maintaining an in-house security team can be prohibitively expensive, particularly for smaller organizations.
The rising BFSI sector in India has become a pivotal driver of economic growth, significantly influencing this market. India’s banking landscape is recognized as one of the most stable globally, with a remarkable increase in financial inclusion. This expansion has enhanced access to banking services and underscored the necessity for robust cybersecurity measures. the rapid expansion of China’s information technology (IT) sector has significant implications for this market.
According to the State Council of the People’s Republic of China, the software and information technology services industry generated an impressive 12.33 trillion yuan (approximately 1.73 trillion U.S. dollars) in business revenues in 2023. This represents a robust year-on-year growth rate of 13.4%, with an increase of 2.2 percentage points compared to the previous year. Therefore, the growth of the BFSI sector in India and the booming IT sector in China are intricately linked to the expansion of the managed security services market.
List of Key Companies Profiled
- IBM Corporation
- Cisco Systems, Inc.
- Check Point Software Technologies Ltd.
- Broadcom, Inc. (Symantec Corporation)
- Wipro Limited
- Verizon Communications, Inc.
- SecureWorks Corp. (Dell Technologies, Inc.)
- Accenture PLC
- BT Group plc
- SonicWall, Inc.
Market Report Segmentation
By Enterprise Size
- Large enterprises
- SMEs
By Services
- Managed UTM
- Managed SIEM
- Managed DDoS
- Managed XDR
- Managed IAM
- Managed Risk & Compliance
By Security
- Cloud Security
- Data Security
- End-point Security
- Network Security
- Other Security
By Vertical
- BFSI
- Healthcare
- Manufacturing
- IT & Telecommunications
- Retail
- Defense/Government
- Other Vertical
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Asia Pacific Managed Security Services Market by Enterprise Size
Chapter 6. Asia Pacific Managed Security Services Market by Services
Chapter 7. Asia Pacific Managed Security Services Market by Security
Chapter 8. Asia Pacific Managed Security Services Market by Vertical
Chapter 9. Asia Pacific Managed Security Services Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- IBM Corporation
- Cisco Systems, Inc.
- Check Point Software Technologies Ltd.
- Broadcom, Inc. (Symantec Corporation)
- Wipro Limited
- Verizon Communications, Inc.
- SecureWorks Corp. (Dell Technologies, Inc.)
- Accenture PLC
- BT Group plc
- SonicWall, Inc.
Methodology
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