Report Overview

Enterprises’ increasing focus on aligning with stringent data protection regulations and compliance standards and the rising awareness among organizations regarding impact of security breaches on business operations are expected to boost the growth of Australia Managed Security Services (MSS) Market during the forecast period between 2024 and 2030.

Australia Managed Security Services (MSS) Market - Industry Trends & Forecast Report, 2030

Australia Managed Security Services (MSS) Market size was estimated to be worth USD 678.21 million in 2023. During the forecast period between 2024 and 2030, the Australia Managed Security Services (MSS) Market size is projected to grow at a CAGR of 5.32%, reaching a value of USD 862.98 million by 2030. Major growth factors for the Australia Managed Security Services (MSS) Market include the growing focus on thwarting security breach instances and the rising integration of advanced technologies, such as artificial intelligence (AI) and machine learning (ML) in business operations. Additionally, stringent government laws and regulations to strengthen data protection are anticipated to present lucrative opportunities to the market players during the period in analysis.

Managed Security Services (MSS) – Overview

Managed security service providers (MSSPs) provide system and security device administration and monitoring. An MSSP is a company that resells software, hardware, and services to its customers. An MSSP, for example, may have a catalog of security devices, such as intrusion prevention systems and firewalls, from which its clients can select several customized products. By offering a specialized incident response team, working with a Managed Security Service Provider (MSSP) simplifies an organization's reaction to possible data risks and cyberattacks. MSSPs can keep a big team of specialists on hand and call on them as needed.

Australia Managed Security Services (MSS) Market

Growth Drivers

Growing Frequency of Cyber Threats

The most frequent sort of cyberthreat incident, according to the Australian Cybersecurity Centre, was compromised assets, network, or infrastructure (23%), followed by data breaches (19%) and ransomware (14%). Phishing (17%) and the misuse of public-facing applications (20%) were frequent behaviors that resulted in cybersecurity breach incidents. Consequently, a number of companies are making large investments in managed cybersecurity services, which is fueling the growth of the market as a whole.

Challenges

High Cost of Managed Security Service (MSS) Solutions

The high cost of managed security services (MSS) can make it difficult for small and medium-sized enterprises (SMEs) to afford these services, which could leave them open to security threats. Startups may find it difficult to devote a substantial portion of their limited budgets to security services; as a result, they might prioritize other business expenses over MSS, which could expose them to cyber risks. Cost-sensitive industries, like manufacturing or retail, may be reluctant to invest heavily in MSS, limiting the growth of Australia Managed Security Services (MSS) market.

Australia Managed Security Services (MSS) Market

Segmental Coverage

Australia Managed Security Services (MSS) Market – By Service Type

Based on service type, the Australia Managed Security Services (MSS) Market is segmented into managed IAM, managed vulnerability management, managed risk & compliance, managed detection & response, managed firewall, and others (managed SIEM and log management). The managed SIEM segment holds the largest market share in the Australia MSS Market. Managed SIEM is a service that centrally tracks and manages security events and issues and is usually offered by outside cybersecurity specialists. These services offer defense against cybersecurity threats by leveraging advanced technologies and expertise.

Australia Managed Security Services (MSS) Market – By Type

Based on type, the Australia Managed Security Services (MSS) Market is divided into fully managed and co-managed. The fully managed service segment accounts for a higher share in the Australia Managed Security Services (MSS) market.

Australia Managed Security Services (MSS) Market – By Security Type

Based on security type, the Australia Managed Security Services (MSS) Market is segmented into network security, cloud security, endpoint security, and application security. The cloud security segment accounts for the highest market share. The growth of the segment is mainly attributed to cost-effectiveness and enhanced data protection. Furthermore, cloud security also offers better scalability and flexibility while continuously providing innovations and updates. However, network security is becoming increasingly popular in the market to improve defense against malware and other assaults like distributed denial of service (DDoS).

Australia Managed Security Services (MSS) Market – By Vertical

Based on vertical, the Australia Managed Security Services (MSS) Market is divided into BFSI, Government, healthcare & life sciences, telecommunications, IT & ITeS, retail & e-commerce, and other (including manufacturing and energy & utilities) segments. The BFSI vertical dominates the Australia Managed Security Services (MSS) Market due to the high cyberattack rate in the banking sector. The high volume of financial transactions and customer data exposes the sector to potential security threats such as phishing attacks, and other severe threats, like advanced persistent threats, which compel the BFSI verticals in Australia to adopt MSS.

Competitive Landscape

Major players operating in the Australia Managed Security Services (MSS) Market include Content Security Pty Ltd, AT&T Cybersecurity, ITSEC Australia Pty Ltd, Microsoft Corporation, IBM Corporation, Broadcom, The Missing Link, CyberCX, Tata Communications, Cythera Pty Ltd, Telstra, Singtel Optus Pty Limited, DXC Technology, Hewlett Packard Enterprise (HPE), Manage Engine (Zoho Corp), LogRhythm, Inc., and OpenText.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In January 2024 – Atturra, an IT solutions provider based in Australia, formed a partnership with Sydney-based MyCISO to launch a managed security program service in the education and commercial sectors in Australia.

Scope of the Report

Attributes	Details
Years Considered	Historical Data – 2019–2023
	Base Year – 2023
	Estimated Year – 2024
	Forecast Period – 2024–2030
Facts Covered	Revenue in USD Million
Market Coverage	Australia
Product/ Service Segmentation	Service Type, Type, Organization Size, Security Type, Vertical
Key Players	Content Security Pty Ltd, AT&T Cybersecurity, ITSEC Australia Pty Ltd, Microsoft Corporation, IBM Corporation, Broadcom, The Missing Link, CyberCX, Tata Communications, Cythera Pty Ltd, Telstra, Singtel Optus Pty Limited, DXC Technology, Hewlett Packard Enterprise (HPE), Manage Engine (Zoho Corp), LogRhythm, Inc., Opentext

 

By Service Type

• Managed IAM

• Managed Vulnerability Management

• Managed Risk & Compliance

• Managed Detection & Response

• Managed Firewall

• Others (Managed SIEM, Log Management)

By Type

• Fully Managed

• Co-Managed

By Organization Size

• Large Enterprises

• SMEs

By Security Type

• Network Security

• Cloud Security

• Endpoint Security

• Application Security

By Vertical

• BFSI

• Government

• Healthcare & Life Sciences

• Telecommunications

• IT & ITeS

• Retail & eCommerce

• Others (Manufacturing, Energy & Utilities)

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Australia Managed Security Services (MSS) Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Growing Frequency of Cyber Threats
         2. Stringent Data Protection Regulations and Compliance Standards
         3. Rising Awareness among Organizations Regarding Impact of Security Breaches on Business Operations
         4. Increasing Adoption of Cloud Services and Infrastructure
         5. Growing Emphasis on Efficient Incident Response and Automation in Cybersecurity
      2. Restraints
         1. High Implementation and Maintenance Costs
         2. False Positives and Alert Fatigue
         3. Shortage of Cybersecurity Professionals
      3. Opportunities
         1. Proliferation of Internet of Things (IoT) Devices
         2. Integration with DevOps and Cloud Native Security
         3. Security Automation and Orchestration
      4. Challenges
         1. Complexity
         2. Privacy Concerns
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Australia Managed Security Services (MSS) Market: Marketing Strategies
5. Australia Managed Security Services (MSS) Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Service Type
         1. Managed IAM
         2. Managed Vulnerability Management
         3. Managed Risk and Compliance
         4. Managed Detection and Response
         5. Managed Firewall
         6. Others (Managed SIEM, Log Management)
      2. By Type
         1. Fully Managed
         2. Co-Managed
      3. By Organization Size
         1. Large Enterprises
         2. SMEs
      4. By Security Type
         1. Network Security
         2. Cloud Security
         3. Endpoint Security
         4. Application Security
      5. By Vertical
         1. BFSI
         2. Government
         3. Healthcare & Life Sciences
         4. Telecommunications
         5. IT & ITeS
         6. Retail & eCommerce
         7. Others (Manufacturing, Energy & Utilities)
6. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Australia Managed Security Services (MSS) Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
7. Impact of Escalating Geopolitical Tensions on Australia Managed Security Services (MSS) Market
8. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
   1. Content Security Pty Ltd
   2. AT&T Cybersecurity
   3. ITSEC Australia Pty Ltd
   4. Microsoft Corporation
   5. IBM Corporation
   6. Broadcom
   7. The Missing Link
   8. CyberCX
   9. Tata Communications
   10. Cythera Pty Ltd
   11. Telstra
   12. Singtel Optus Pty Limited
   13. DXC Technology
   14. Hewlett Packard Enterprise (HPE)
   15. Manage Engine (Zoho Corp)
   16. LogRhythm, Inc.
   17. Opentext
   18. Other Prominent Players
9. Key Strategic Recommendations
10. Research Methodology
    1.       Qualitative Research
       1.   Primary & Secondary Research
    2.       Quantitative Research
    3.       Market Breakdown & Data Triangulation
       1.   Secondary Research
       2.   Primary Research
    4.       Breakdown of Primary Research Respondents, By Region
    5.       Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

 

List of Figures

 

Figure 1       Australia Managed Security Services (MSS) Segmentation

Figure 2       Australia Managed Security Services (MSS) Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       Australia Managed Security Services (MSS) Market Size, By Value (USD Million), 2019–2030

Figure 5       Australia Managed Security Services (MSS) Market Share, By Service Type, By Value (USD Million), 2019–2030

Figure 6       Australia Managed Security Services (MSS) Market Share, By Type, By Value (USD Million), 2019–2030

Figure 7       Australia Managed Security Services (MSS) Market Share, By Organization Size, By Value (USD Million), 2019–2030

Figure 8       Australia Managed Security Services (MSS) Market Share, By Security Type, By Value (USD Million), 2019–2030

Figure 9       Australia Managed Security Services (MSS) Market Share, By Vertical, By Value (USD Million), 2019–2030

 

List of Tables

 

Table 1        Australia Managed Security Services (MSS) Market Size, By Value (USD Million), 2019–2030

Table 2        Australia Managed Security Services (MSS) Market Share, By Service Type, By Value (USD Million), 2019–2030

Table 3        Australia Managed Security Services (MSS) Market Share, By Type, By Value (USD Million), 2019–2030

Table 4        Australia Managed Security Services (MSS) Market Share, By Organization Size, By Value (USD Million), 2019–2030

Table 5        Australia Managed Security Services (MSS) Market Share, By Security Type, By Value (USD Million), 2019–2030

Table 6        Australia Managed Security Services (MSS) Market Share, By Vertical, By Value (USD Million), 2019–2030

Table 7        Content Security Pty Ltd Company Overview

Table 8        Content Security Pty Ltd Financial Overview

Table 9        AT&T Cybersecurity Company Overview

Table 10      AT&T Cybersecurity Financial Overview

Table 11      ITSEC Australia Pty Ltd Company Overview

Table 12      ITSEC Australia Pty Ltd Financial Overview

Table 13      Microsoft Corporation Company Overview

Table 14      Microsoft Corporation Financial Overview

Table 15      IBM Corporation Company Overview

Table 16      IBM Corporation Financial Overview

Table 17      Broadcom Company Overview

Table 18      Broadcom Financial Overview

Table 19      The Missing Link Company Overview

Table 20      The Missing Link Financial Overview

Table 21      CyberCX Company Overview

Table 22      CyberCX Financial Overview

Table 23      Tata Communications Company Overview

Table 24      Tata Communications Financial Overview

Table 25      Cythera Pty Ltd Company Overview

Table 26      Cythera Pty Ltd Financial Overview

Table 27      Telstra Company Overview

Table 28      Telstra Financial Overview

Table 29      Singtel Optus Pty Limited Company Overview

Table 30      Singtel Optus Pty Limited Financial Overview

Table 31      DXC Technology Company Overview

Table 32      DXC Technology Financial Overview

Table 33      Hewlett Packard Enterprise (HPE) Company Overview

Table 34      Hewlett Packard Enterprise (HPE) Financial Overview

Table 35      Manage Engine (Zoho Corp) Company Overview

Table 36      Manage Engine (Zoho Corp) Financial Overview

Table 37      LogRhythm, Inc.  Company Overview

Table 38      LogRhythm, Inc.  Financial Overview

Table 39      Opentext Company Overview

Table 40      Opentext Financial Overview