Share this article Share this article ResearchAndMarkets.com's offering. Revenue generation in the APAC MSS market is likely to be impeded by the global COVID-19 pandemic, it will recover quickly after 2020 at a CAGR of 14.9% (2019-2024); growth will vary with each country in the region. Managed security services (MSS) offered are categorized into 2 segments: hosted security services (HSS) and CPE-based management monitoring services (MMS). Though ANZ is a fragmented market with a large number of local security providers competing with international participants in both Australia and New Zealand, it will continue on a steady growth path. The ASEAN market is expected to maintain its strong growth over the next 5 years. The lack of budget allocated to cybersecurity, specifically to strengthen detection and response capabilities, is one of the reasons why businesses engage MSSPs.