Cyber Elite, a Bangkok-based cybersecurity firm, has partnered with Zscaler, the US-based cloud security service provider, to provide managed cloud security services for Thai enterprises to capitalise on the 15-billion-baht IT security market.
"We have seen surging demand for IT security, particularly cloud security, from organisations that have engaged in multi-cloud usage," said Supakorn Kungpisdan, managing director of Cyber Elite, a subsidiary of digital solutions provider Benchachinda Group.
To cater to this demand, Cyber Elite joined hands with Zscaler to offer managed cloud security services for local enterprise customers, he said.
"The managed cloud security service can help ensure faster security deployment and reduce the investment cost," said Mr Supakorn.
Foad Farrokhnia, head of alliance and channels for Asia-Pacific and Japan at Zscaler, said 56% of Thai organisations have started digital transformation, up from 12% prior to the pandemic. Demand for security services has been surging.
The synergy with Cyber Elite would benefit both companies to become the "first mover" to offer high-level cloud security services in the Thai market, Mr Farrokhnia said.
The target groups include the financial sector, such as banks and insurance firms, as well as the government sector and large enterprises that are moving towards digital transformation, cloud adoption and cybersecurity embracement, he said.
Karen Chong, regional vice-president for Asean at Zscaler, said the firm decided to open its second Asean office in Thailand as the country has a large 5G user base, serves as the regional digital hub and has a lot of data centres, which propel demand for security services.
According to Mr Supakorn, Zscaler's cloud security technology was developed based on Zero Trust architecture that emphasises the "Never Trust, Always Verify" approach, so customers can ensure that their business and IT environment will be protected with strong identity verification.
Thailand's IT security market is expected to be worth 15 billion baht in 2023, up from 12 billion last year, he said, adding cloud security is a key driver.
He said the cloud market value in Thailand is expected to grow 40% this year, higher than the global average of 30%.
This trend drives more demand to use security services on the cloud, he said.
Mr Supakorn said Cyber Elite is looking into co-investment and a joint venture model for other businesses, including managed operational technology security services in factories in the Eastern Economic Corridor.
"Large enterprises and state organisations continue to invest in security," said Mr Supakorn.
