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Cybersecurity Worries Draw C-Level Attention in Asia
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Negative)
Tags
Rhea-AI Summary
Enterprises in Singapore and Malaysia are increasingly involving senior management in cybersecurity decision-making, according to the latest ISG Provider Lens report. As cyber threats rise, organizations are adapting their security strategies and investing more in cloud-based security solutions. The report highlights a shift towards more sophisticated cybersecurity frameworks and a demand for less complex purchasing options. ISG identifies 81 providers across six quadrants, naming IBM as a leader in all. Companies express the need for operational expense models for cybersecurity services amidst increasing digital transformation efforts.
Positive
Increased involvement of senior management in cybersecurity decisions.
Growing investment in cloud-based security solutions.
More mature cybersecurity strategies being developed in response to rising threats.
Demand for cloud-based detection and response products expected to increase.
Report identifies IBM as a leader in all six evaluated quadrants.
Negative
Rising cyber threats leading to increased cybersecurity concerns and operational pressures.
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--(BUSINESS WIRE)--
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 today by Information Services Group (ISG) (Nasdaq: III), 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.
“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.”
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.
In addition, Check Point, Infosys, LastPass, Netskope, NTT and Proficio are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.
The 2022 ISG Provider Lens™ Cybersecurity — Solutions and Services report for Singapore and Malaysia is available to subscribers or for one-time purchase on this webpage.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.
A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
