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Need for Regulatory Compliance Revs Up Latin American Managed Security Services Markets Finds Frost & Sullivan - Lack of awareness limits market potential
Need for Regulatory Compliance Revs Up Latin American Managed Security Services Markets Finds Frost & Sullivan

 

PRZOOM - /newswire/ - São Paulo, Brazil, 2011/05/19 - Lack of awareness limits market potential.

   
 
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The Latin American managed security services (MSS) markets had obtained high growth rates in 2010, reaching a total of $189.4 million. The most important market drivers include the economic growth of the region, excellent cost-benefit of outsourcing network security, the increasingly complexity of business networks, and sophistication of network attacks. Compliance with local and international regulations has been a driver in the Latin American network security markets. Brazil and Colombia offer the highest growth potentials in the short term.

The market is composed of international and local IT service providers, telecommunication service providers, MSS pure participants and integrators. Although the enterprise segment is extremely participative of this market, a greater presence of the mid-market is expected already in the short term.

New analysis from Frost & Sullivan (networksecurity.frost.com), Latin American Managed Security Services Markets, finds that the market earned revenues of over $189.4 million in 2010 and estimates this to reach $455.4 million in 2015.

"While regions such as North America and Eastern Europe are already witnessing a downtrend due to a more stabilized market, Latin America is presenting an extremely dynamic and fast-growing MSS market," says Frost & Sullivan Industry Analyst Fernando Belfort. "Global vendors have noticed this emerging opportunity and are investing on local security operations centers (SOCs), greater services flexibility, and marketing of their service capabilities."

Although the prospects for the market look bright, there are some challenges restraining market progression. The lack of awareness about the current threats and the solutions available in the market are major factors deterring growth. Challenging economic conditions and political instability in many countries in the region are constraining overall IT investments. Above all, the price of MSS remains prohibitive for many potential clients, mostly in the mid-market segment.

Among the vertical markets, the telecommunication and manufacturing sectors have high investments in outsourced MSS, followed by the banking and finance segment. The government vertical is conducting a series of modernization and digital inclusion programs. In Brazil, all levels of government have invested heavily in outsourcing their IT departments.

The retail vertical attained a market share of 10.8 percent in 2010 and is expected to increase its participation in the Latin American MSS markets to 12.2 percent by 2016. A majority of MSS participants consider the retail vertical one of the most strategic as companies in this segment have a greater desire to focus on their 'core business' and are slated for aggressive growth. In addition, compliance to Payment Card Industry Data Security Standard (PCIDSS) has been a major market driver in this business vertical.

"Other vertical markets poised to pick up steam are education, tourism, and healthcare," says Belfort. "These verticals will experience prolific growth over the coming years, especially as they have only been investing to protect their networks over the past few years and have enormous growth potential."

If you are interested in more information on this study, please send an email to Tatiana Brull, at tatiana.brull[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.

Latin American Managed Security Services Markets is part of the Network Security Growth Partnership Service program, which also includes research in the following markets: Latin American Network Security Markets, Brazilian Endpoint Security Markets: End User Analysis. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

Latin American Managed Security Services Markets / N931

 
 
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Need for Regulatory Compliance Revs Up Latin American Managed Security Services Markets Finds Frost & Sullivan

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