GCC warming up to managed security services
Frost & Sullivan expects MSS revenues of $215.6m by 2020
Adoption of managed security services (MSS) in GCC countries is set to grow as organisations struggle with the complexities of securing their networks against targeted attacks, according to a report from Frost & Sullivan.
The research house said that trends in the region show a gradual shift from traditional perimeter engagements to the protection of network core and internal assets. Frost & Sullivan's report found that the MSS market in the GCC earned revenues of $58m in 2013, and predicted that this number would reach $215.6m by 2020.
Frost & Sullivan said that cloud-based security services would be the most sought-after, particularly in Qatar and the UAE. That said, the research house also advised that demand for on-premise equipment such as firewalls and intrusion prevention systems, will remain high.
"Telecom and cloud services will contribute significantly to market growth in the GCC, with network security and data management, in particular, presenting immense scope for investments," said an unnamed Frost & Sullivan research analyst.
"Delivering customer support for cloud service vendors will open up additional revenue streams for managed security service providers."
While growth rates for MSS escalate in large firms, Frost & Sullivan cautioned that small and medium enterprises (SMEs) remain aloof due to low awareness on the importance of security services. Inadequate budgets further curb the deployment of security services by SMEs, the report said.
The report added that the lack of multi-disciplinary security service expertise is another challenge, which forces organisations to hire multiple MSS providers, thus raising costs. The bundling of basic security services will therefore be key to encouraging sales, the analyst house said.
"Businesses are also looking for a centralised access point to control traffic flow, data leakage, and remote connectivity," noted the analyst.
"Offering managed services for mobile security and simulation tools for retail security too will help service vendors make a mark in the MSS market in the GCC."