Organizations in Singapore and Malaysia, seeing rising threats, are involving senior management in cybersecurity decision-making, ISG Provider Lens report says.
SINGAPORE & KUALA LUMPUR, Malaysia Enterprises in Singapore and Malaysia have grown so concerned about the dangers of cyberattacks that they are changing the way they make security-related decisions and procure cybersecurity services, according to a new research report published by Information Services Group, a leading global technology research and advisory firm.
The 2022 ISG Provider Lens Cybersecurity Solutions and Services report for Singapore and Malaysia finds organizations in both countries are starting to include senior management in decision-making about cybersecurity strategies and products. They are also spending more on cloud-based, end-to-end security solutions as cloud migration accelerates across the region.
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“More C level executives in Singapore and Malaysia want to understand cybersecurity, because the risks are growing,” said Joyce Harkness, director, ISG Cybersecurity for ANZ and Asia Pacific. “Cyberattacks, data theft and disruption of operations have grave business implications.”
Companies in the region are developing more mature cybersecurity strategies due to both a growing awareness of cyberattacks, which are increasing in both countries, and the introduction of tighter regulations and legislation, ISG says. As they store more mission-critical resources in the cloud, enterprises also recognize that the number of access points they need to defend is growing exponentially. Demand for cloud-based detection and response products and web-based management tools is expected to accelerate over the next few years.
Following disruptions caused by the COVID-19 pandemic, Singaporean and Malaysian enterprises ramped up digital transformation strategies to leverage the cloud, enable remote work and tightly control costs, the report says. This drove up demand for cybersecurity services, but enterprises have their own ideas about how they want to consume them: They are seeking less complex purchase options and want to pay for services and platforms as an operational expense.
“The cloud trend in Singapore and Malaysia is changing cybersecurity needs,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Providers of all sizes are stepping up by expanding their service offerings and packaging them as platforms.”
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The report explores trends and best practices in the region for several areas of cybersecurity technology, including identity and access management tools, data loss prevention systems and advanced endpoint protection.
The 2022 ISG Provider Lens Cybersecurity Solutions and Services report for Singapore and Malaysia evaluates the capabilities of 81 providers across six quadrants: Identity and Access Management (IAM); Data Leakage / Loss Prevention (DLP) and Data Security; Advanced Endpoint Threat Protection, Detection and Response (Advanced ETPDR); Technical Security Services; Strategic Security Services, and Managed Security Services.
The report names IBM as a Leader in all six quadrants. It names Accenture, Deloitte, Fujitsu, Microsoft and Verizon as Leaders in three quadrants each. Broadcom, Celcom Axiata, Ensign, EY, LGMS, NCS, TM ONE and Wipro are named as Leaders in two quadrants each. The report names Bitdefender, CrowdStrike, CyberArk, DXC Technology, Forcepoint, KPMG, NTT, Okta, Oracle, Ping Identity, PwC, Rapid7, SailPoint, Singtel, Tech Mahindra, Trellix, Trustwave and VMware Carbon Black as Leaders in one quadrant each.
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