The Asia Pacific Managed Security Services Market would 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 would continue to be a dominant market till 2031; thereby, achieving a market value of $7,349.8 million by 2031. The Japan market is registering a CAGR of 15% during (2024 - 2031). Additionally, The India market would 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.
Free Valuable Insights: The Global Managed Security Services Market is Predict to reach USD 85.9 Billion by 2031, at a CAGR of 15.2%
Based on Enterprise Size, the market is segmented into Large enterprises, and SMEs. Based on Services, the market is segmented into Managed UTM, Managed SIEM, Managed DDoS, Managed XDR, Managed IAM, and Managed Risk & Compliance. Based on Security, the market is segmented into Cloud Security, Data Security, End-point Security, Network Security, and Other Security. Based on Vertical, the market is segmented into BFSI, Healthcare, Manufacturing, IT & Telecommunications, Retail, Defense/Government, and Other Vertical. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Enterprise Size
By Services
By Security
By Vertical
By Country
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