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South Korea Managed Security Services Market, Forecast to 2021

South Korea Managed Security Services Market, Forecast to 2021

  • February 2018
  • 47 pages
  • ID: 4806002
  • Format: PDF
  • By Frost & Sullivan

Summary

Table of Contents

Pressure to Reduce Operational Costs Driving MSS Adoption
The South Korean MSS market witnessed a growth of 9.5% in 2016. The market saw a high demand from cloud MSS and hybrid MSS.

Amazon Web Service (AWS) did business in the South Korean market, with support from leading local participants SK Infosec and AhnLab. As many customers are still using legacy solutions and not private cloud, the cloud MSS remains focused on public cloud such as AWS, Azure, Google, and IBM cloud, and these companies are trying to partner with cloud service providers. To reduce costs and have a better understanding about security incidents, clients prefer to have MSS professionals in their security operations centres (SOCs).

In addition to market growth analysis, the study highlights the driving forces of the managed security services (MSS) market. The shortage of cyber security professionals with strong expertise was the top factor driving enterprises to engage with MSSPs to help them cope with new security challenges.

The evolution of advanced threats continued to cause greater operational pressure on companies, driving them to look at MSSPs to reduce the pressure and better security threat management. The introduction and amendment of cyber security laws and regulations are urging companies to focus more on regulatory compliance. The shift from CapEx to OpEx continued to take place across the APAC region, prompting companies to outsource parts of their security practices to focus more on the revenue-generating operations.

Market trends have been analyzed for the period 2015 to 2021, with 2016 as the base year. Hosted security services (HSS) and customer-premises equipment (CPE)-based management and monitoring services are the key service segments in this study. Vertical segmentation includes the government, banking, financial services, and insurance (BFSI), service provider, manufacturing, education, and other sectors including pharmaceuticals, retail, logistics, oil and gas, energy, mining, agriculture, Information Technology (IT)/IT-enabled services (ITeS), eGaming, eCommerce, and business process outsourcing (BPO).

Companies mentioned in the Korean MSS market’s vendor analysis include NTT, IBM Security, SK Infosec, AhnLab, and IGLOO SECURITY.

Key Issues Addressed
• Is the MSS market growing? How long will it continue to grow, and at what rate?
• Are the existing competitors structured well to meet customer needs?
• What were the key services that were adopted the most by customers in the region in 2016?
• How was the competitive landscape in South Korea?
• Will MSSPs be replaced by the new trends, such as in-sourcing and cloud-based security services?
• How will the market be shaped in the next 5 years?



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