Market Insights Technology Cybersecurity Security Services

Managed Services - ASEAN

ASEAN

The Managed Services market in ASEAN is anticipated to witness a substantial growth in revenue, with projections indicating that it will reach a staggering US$0.65bn in 2024.
Moreover, the market is expected to demonstrate a steady annual growth rate (CAGR 2024-2029) of 5.26%.
These estimations imply that the market volume will expand significantly, reaching an impressive US$0.84bn by 2029.
When considering the average Spend per Employee in the Managed Services market sector, it is forecasted to reach US$1.87 in 2024.
This figure reflects the amount of investment made per employee, showcasing the industry's commitment to providing high-quality services.
In terms of global revenue comparisons, United States is projected to generate the highest revenue in the Managed Services market, with an estimated value of US$10,260.0m in 2024.
This indicates the dominance of the United States in this market segment.
In the ASEAN market, Singapore is leading the way in the adoption of Managed Services, leveraging its advanced infrastructure and tech-savvy workforce.

Key regions: India, Germany, Canada, Europe, Belgium

Market

Region

Region comparison

Currency

Methodology

Data coverage:

Data encompasses B2C, B2B and B2G enterprises. Figures are based on security spending excluding VAT and the number of cyberattacks.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial statements of the market-leading companies and industry associations, national statistical offices, and specific countries’ security organizations (e.g., German Cyber Security Council, Canadian Centre for Cyber Security). Furthermore, we use relevant key market indicators and data from country-specific associations, such as GDP and internet penetration. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. Possible techniques are, for example, exponential trend smoothing and the autoregressive integrated moving average (ARIMA) forecasting algorithm. The main drivers are GDP, internet users, level of digitization, and consumer attitude towards data and IT security.

Additional notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.