Companies in Asian countries are consolidating their position in the cyber security world and prioritizing internet security providers to tackle the increased number of cyber-attacks. According to a study by the Information Services Group (ISG), businesses in Singapore and Malaysia have become prone to cyber-attacks which has led to a surge in the number of firms opting for cybersecurity specialists.
The 2022 ISG Provider LensTM Cybersecurity Solutions and Services study shared a detailed report, highlighting the ongoing onboarding process of cybersecurity specialists in Singapore and Malaysia. It also stated why giant players are being deployed in the two countries and the industry leaders preparing to provide services to businesses in Singapore and Malaysia.
The report elaborates on why Asian countries are opting for better protection and highlights the aggressive use of cloud-based end-to-end security solutions.
Singapore and Malaysia adopt protective measures amid rising attacks
According to Joyce Harkness, director of ISG Cybersecurity for ANZ and the Asia Pacific, C-level executives in Malaysia and Singapore want to understand the scope and use of cybersecurity. Part of why these companies opt for cybersecurity is that the cyber risks are multiplying rapidly, catering to widespread cyberattacks — including but not limited to data theft, phishing, social engineering attacks, and operational disruption by threat actors.
After the COVID-19 pandemic, businesses in both regions are on a mission to create robust cybersecurity plans. Additionally, a growing awareness of cyber-attacks is coercing nations to implement better cybersecurity practices and fix the vulnerabilities that could lead to hacks and data theft.
As per ISG, enterprises are becoming aware of using access points because they need to secure them. However, critical resources are being stored in the Cloud, inadvertently putting them at risk. The report states that the need for cloud-based resources will increase in a few years, further increasing the need to protect online assets with real-time threat detection systems.
The 2022 ISG Provider LensTM Cybersecurity — Solutions and Service reported that both countries evaluated the capabilities of 81 service providers across six quadrants. These include technical, strategic, and managed security services, data leakage/loss prevention, data security, and advanced endpoint threat protection, detection, and response (Advanced ETPDR).
The report categorized companies and services based on several quadrants. These include the first six quadrants, which rated IBM as the leader, followed by Accenture, Deloitte, Fujitsu, Microsoft, and Verizon in three of the four quadrants. Companies such as Broadcom, Celcom Axiata, Ensign, EY, LGMS, NCS, TM ONE, and Wipro are being recognized as leaders in the last two quadrants.
Additionally, the report added more names to the list. These include cybersecurity companies and firms further categorized as Rising Start — companies with a “promising portfolio” and “strong future potential,” according to ISG’s definition.