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The Managed Security Services market is expected to exceed $604 million in 2008, representing a 20.4 percent increase over 2007, according to IDC's Asia/Pacific (excluding Japan) Managed Security Services Study. IDC expects this market to reach $1.1 billion in 2012 with a 5-year CAGR of 17.1 percent, which will significantly outperform the overall ICT outsourcing and managed services market. "Enterprises can no longer ignore security spending given the increasingly sophisticated and rapidly evolving security threats," says Adrian Dominic Ho, Research Manager for IDC's Asia/Pacific Managed Services and Enterprises Networks. "Today, managed security services are no longer simply about firewalls and anti viruses. Enterprises are looking for crisis management, disaster recovery and business continuity services to ensure 24/7 uptime of their business in the event of a significant business disruption. For service providers, this will be the ultimate cash cow. The managed security market has written itself a new chapter." "Creating and executing a business continuity plan to respond to any form of crisis is a very costly endeavor and not many enterprises will be able to afford it," adds Adrian. "However, the million dollar question is can enterprises survive a public scrutiny when there is a severe disruption to their business?" In the APeJ region, IDC expects managed security adoption to be strongest in mature services markets like Australia, Hong Kong, Korea, New Zealand and Singapore. The recent flurry of managed security product launches, as well as acquisitions and partnerships, demonstrates that managed services service providers are strategically positioning themselves to take advantage of this fast growing market. "In the past, spending on managed security was like buying an insurance policy, something that is good to have," continues Adrian. "This mindset has changed as enterprises realized that the threats out there are real but, more importantly, the chronic shortage of skilled security professional has made the need to adopt managed security services even more compelling." |
