Singapore Managed Security Services Market Forecast and Opportunities, 2023_Brochure

SINGAPORE MANAGED SECURITY SERVICES MARKET COMPETITION FORECAST & OPPORTUNITIES, 2013 – 2023

Published: June, 2018

Market Intelligence . Consulting

Ta b l e o f C o n t e n t s S. No.

Contents

1.

Product Overview

2.

Research Methodology

3.

Analyst View

4.

Voice of Customer 4.1.

Singapore MSS, By Compromised Business Area

4.2.

Singapore MSS, By Estimated Source of Breach

4.3.

Singapore MSS, By Initiative to Secure Ecosystem

4.4.

Singapore MSS, By Mode Attack

5.

Global Managed Security Services Market Outlook

6.

Singapore Managed Security Services Market Landscape

7.

Singapore Managed Security Services Market Outlook 7.1.

Market Size & Forecast 7.1.1.

7.2.

8.

By Value

Market Share & Forecast 7.2.1. By Service Type (Managed Firewall, Unified Threat Management, Managed IPS & IDS, Managed SIEM and Others) 7.2.2. By Deployment Type (On-Premise and Cloud) 7.2.3. By End User Sector (Government, BFSI, IT & Telecom, Manufacturing & Natural Resources and Others) 7.2.4. By Region (Central & East Region, North-East Region, North Region and West Region) 7.2.5. By Company

Singapore Managed Security Services Market Attractiveness Index

8.1.

By Service Type

8.2.

By Deployment Mode

8.3.

By End User Industry

8.4.

By Region

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Ta b l e o f C o n t e n t s S. No. 9.

Contents Singapore On-Premises Managed Security Services Market Outlook 9.1.

Market Size & Forecast 9.1.1.

9.2.

10.

Market Share & Forecast 9.2.1.

By Service Type

9.2.3.

By End User Industry

Singapore Cloud-Based Managed Security Services Market Outlook 10.1.

Market Size & Forecast 10.1.1.

10.2.

13.

By Value

By Value

Market Share & Forecast 10.2.1.

By Service Type

10.2.2.

By End User Industry

Market Dynamics 13.1.

Impact Analysis

13.2.

Drivers

13.3.

Challenges

14.

Market Trends & Developments

15.

Policy & Regulatory Landscape

16.

Singapore Economic Profile

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Ta b l e o f C o n t e n t s S. No. 17.

Contents Competitive Landscape 17.1.

Competitive Benchmarking

17.2.

Company Profiles 17.2.1.

IBM Singapore Pte. Ltd.

17.2.2.

NTT Singapore Pte. Ltd.

17.2.3.

DXC Technology Singapore Pte. Ltd.

17.2.4.

Verizon Communications Singapore Pte. Ltd.

17.2.5.

Singapore Telecommunications Limited

17.2.6.

BT Singapore Pte. Ltd.

17.2.7.

StarHub Ltd.

17.2.8.

Quann Singapore Pte. Ltd.

17.2.9.

Proficio Pte. Ltd.

17.2.10.

Dimension Data (Singapore) Pte. Ltd.

18.

Strategic Recommendations

19.

About Us & Disclaimer

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Managed Security Services Overview •

Managed Security Services (“MSS”) are network security services, which are majorly outsourced to service providers so that the company can focus on its core competencies. MSS includes managed firewall, intrusion detection, virtual private network, vulnerability scanning and anti-virus services. MSS also provides clock monitoring and managing & consulting services for the client’s network security. Moreover, MSS provides unified threat management, endpoint security, distributed denial of services, etc.

•

MSS is either deployed as cloud-based model or Customer Premises

Equipment

(CPE)-based

model.

Managed Security Services Network

Cloud-based

Managed

deployment is the most preferred deployment mode. With

Security Service

increasing instances of cyberattacks, website hacking and other online frauds, managed security services are used by different sectors such as Banking, Financial Services & Insurance (BFSI), Retail, IT & Telecom, Healthcare, Defense,

Remote Site Cloud

Virtualization Environment

Physical Environment

etc.

•

MSS offers various applications such as Managed Intrusion Prevention & Detection Systems, Unified Threat Management (UTM), Endpoint Security, Distributed Denial of Services (DDoS), etc., in different sectors to protect systems from viruses, hackers and unwanted programs. MSS can be accessed in two ways: •

In-house (by using the company’s equipment and security team within the company premises).

•

Managed Security Service Providers (MSSP) – Provides outsourced monitoring and management of security devices and systems from a remote location. © TechSci Research

5

Managed Security Services Overview Types of Managed Security Services: •

Managed Endpoint Security: Security is provided to each endpoint device such as PCs, laptops, smartphones, tablets, etc., by establishing a security system, which consists of security software. This security software is located in managed and accessible server within the network.

•

Managed Firewall Management: It is a network security system which controls and monitors inflow and outflow of network traffic, based on set of rules.

•

Managed Intrusion Prevention & Detection System: It is a prevention technology that provides security against attacks originating from both inside and outside of the network. The system scans network traffic and provides reports to Intrusion Prevention Systems (IPS).

•

Managed Secured Information and Event Management (SIEM): It is a combination of security information management, which collects data for trend analysis; and security event management, and helps in interpretation of network logs in real time.

•

Managed Unified Threat Management: It is an approach through which administrator can monitor and manage multiple security functions from one single system.

•

Managed Distributed Denial of Services (DDoS) Protection: DDoS protection can be defined as a type of Denial of Service (DOS) attack, generally Trojan, where various compromised systems are used to target a single system resulting in DOS attack. Managed Distributed Denial of Services (DDoS) Protection is used to protect such networks. © TechSci Research

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Research Methodology Baseline Methodology: •

Our dedicated team of industry experts has comprehensively monitored and analyzed various aspects of Singapore managed security services market. The team has analyzed various industry segments and speculated a positive future for the industry. Taking into consideration the technological developments, capital investments, etc., our team of analysts has provided a prudent analysis of the industry’s performance in the future. This would enable our clients in planning their investment decisions and explore growth opportunities in Singapore managed security services market.

•

For our study, we have gathered information through primary research surveys with multiple respondents in Singapore managed security services market, followed by an exhaustive search of credible paid databases. Our team of experts has then prudently evaluated all the collected information and organized it in chronological order to depict a meaningful and clear picture of the market.

•

In addition, while compiling the data, we have also validated all the collected information from multiple sources and data warehouses in order to present the most accurate and precise information of the concerned industry. We have also identified and analyzed all emerging trends, including the important drivers and challenges that the industry is confronting. We have also presented industry forecasts based on our in-depth analysis of the market dynamics, prevalent trends, major developments and growth opportunities.

•

Note: Currency exchange rate taken in the report for 2013-2023 is 1 USD = SGD 1.38 Companies Interviewed

IBM, NTT, DXC, VERIZON, SINGTEL, etc.

Sources: Company Website, Annual Reports, Press Releases, etc.

© TechSci Research

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Industry Brief

Rising Cyberattacks and High-Profile Security Breaches to Drive Singapore Managed Security Services Market According to TechSci Research report, “Singapore Managed Security Services Market By Service Type, By Deployment Type, By End User Sector, Competition Forecast & Opportunities, 2013-2023”, the managed security services market in Singapore is forecast to reach $ 602 million by 2023. Surge in the number of cyber attacks and large-scale DDoS attacks such as WannaCry are among the key factors expected to fuel the market in the coming years. As Singapore is one of the IT hubs of Asia-Pacific, growing need to protect sensitive data is anticipated to drive the managed security services market during the forecast period.

On the basis of services, Singapore managed security services market has been segmented into Managed Endpoint Security, Managed Firewall Security, Managed Intrusion Prevention & Detection Systems (IPS/IDS), Managed Secured Information & Event Management and Others. Of these service categories, endpoint security is expected to emerge as the fastest growing segment over the next five years, backed by growing number of smart devices used by enterprises and government bodies. Since on-premise based managed security services offer superior data protection services compared to cloud, it is the most preferred deployment mode in the country.

“As the inhouse teams across various enterprises are finding it difficult to tackle new challenges associated with cybersecurity, security services are being outsourced in order to focus on core competencies and safeguard sensitive data. As a result, managed security services market in Singapore is registering strong growth. Moreover, rise in awareness regarding cyberattacks and the need to protect valuable data is anticipated to boost the demand for cybersecurity, and consequently, drive MSS market in the country in the foreseeable future.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

© TechSci Research

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Sample Data-Snapshot

Figure

1:

Major

Compromised

Business

Areas

in

Singapore (N=X), 2018

Figure 5: Singapore Managed Security Services Market Size, By Value, 2013-2023F (USD Million) CAGR (2018E2023F) X%

CAGR (20132017) X%

2013

2014

2015

2016

2017

2018E 2019F 2020F 2021F 2022F 2023F

Employee Theft of “soft” Loss or damage Customer Business email Figure 10: Singapore Managed Security Figure 9: Singapore Managed Security Services records of internal records compromised intellectual Market Share, By Region, By Value, 2013–2023F compromised property (e.g., records compromised Services Market Share, By Company, By information such as 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% Value, 2017 & 2023F processes, 2017 institutional 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% Others knowledge, etc) IBM 20% 20% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% Figure 11: Singapore Managed Security Services Market Attractiveness Index, By Service Type,

10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%

By Value, 2018E-2023F

Verizon 20%

12.00% Others

10.00%

Figure 7: Singapore Managed Security Services Market Share, By

8.00%

Endpoint

6.00%

60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00%

SIEM

2.00%

DXC 20%

Deployment Type, By Value, 2013-2023F

Firewall

4.00%

0.00% 0.00

2013 2014 2015 2016 2017 2018E2019F 2020F 2021F 2022F 2023F Central & East Region West Region

NTT 20%

IPS/IDS

1.00

2.00

3.00

4.00

5.00

6.00

2013

2014

2015

2016

2017

2018E

On-Premises Managed Security Services

Source: XXXXX Note: These are dummy figures; please purchase our report for actual data

2019F

2020F

2021F

2022F

2023F

Cloud-based Managed Security Services © TechSci Research

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Report Name: Singapore Managed Security Services Market By Service Type, By Deployment Type, By End User Sector, Competition Forecast & Opportunities,2023

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About Us & Disclaimer About Us: TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in a number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various

analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.

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Partial List of Clients:

Disclaimer:

The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the User of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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