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.
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"Singapore Managed Security Services Market"
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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.

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“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.
“Singapore Managed Security Services Market By Service Type, By Deployment Type, By End User Sector, Competition Forecast & Opportunities, 2013-2023” has evaluated the future growth potential of Singapore managed security services market and has also provided the statistics and information on market structure, size, share and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities existing in the market.