Thailand Managed Security Services Market

Thailand Managed Security Services Market, By Security Type (Network Security, Endpoint Security, Application Security, Cloud Security, Others); By Deployment Mode (On–Premises, Cloud); By Organization Size (Large Enterprises, SMEs); By End Users (BFSI, IT & Telecommunication, Energy & Utilities, Healthcare, Manufacturing, Defense, Others), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

Thailand Managed Security Services Market Size Booming to Touch USD 478.6 Million by 2029

The Thailand managed security services market is gaining traction because of the growing use of internet of things (IoT) and a spurring demand for managed security services in small and medium–sized enterprises (SMEs).

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Thailand managed security services market size at USD 256.82 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Thailand managed security services market size to grow at an impressive CAGR of 9.30% reaching a value of USD 478.6 million by 2029. The use of emerging technologies like artificial intelligence (AI) and machine learning (ML) in business operations, together with an increase in new threats, governmental regulations, and the explosion of consumer data, are significant growth factors for the Thailand managed security services market.

Thailand Managed Security Services Market – Overview

Outsourced management and monitoring of security systems and devices is a feature of managed security services. Managed firewalls, intrusion detection systems, virtual private networks, vulnerability scans, and antiviral services are typical MSP services. A managed security service provider (MSSP) is a third party that offers its clients cybersecurity services. Managed services enable continuous network monitoring instead of outsourcing IT only when an issue arises. A managed service provider also takes care of all maintenance.

Thailand Managed Security Services Market – By Organization Size

Based on organization size, the Thailand managed security services market is segmented into large enterprises and SMEs. The large enterprises segment accounts for a higher market share. Large businesses tend to outsource services more frequently. Another significant factor fueling the market expansion is the increase in cyberattacks, which expose large corporations to unanticipated losses in revenue and reputation. However, SMEs are projected to register the highest growth rate during the forecast period owing to the increasing adoption of cloud computing among small organizations.

Impact of COVID-19 on the Thailand Managed Security Services Market

The COVID-19 pandemic boosted the growth of the Thailand managed security services market. According to a survey by PwC, the rise in remote working, digitization of business activities, and transition to online platforms caused a large increase in cyberattacks. It is advised that Thai businesses embrace cutting-edge cybersecurity measures in light of the rising danger of potential cyber threats in order to avoid being the next target of attackers. The need for managed security services is expected to increase among both SMEs and large companies as a result.

Competitive Landscape

Major players operating in the Thailand managed security services market include True IDC, CAT Telecom, Advanced Info Service (AIS), True Digital Security, KBTG, Jasmine International, Sify Technologies, TOT Public Company Limited, Cybersecurity Thailand, and Symantec.

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

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Thailand Managed Security Services Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Thailand Managed Security Services Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.