Recently, Frost & Sullivan researched the Taiwanese cybersecurity service market and, based on its analysis results, recognizes CHT Security with the 2022 Taiwanese Company of the Year Award for its cybersecurity service. The company secures Internet of Things (IoT) devices that empower a wide range of use cases for sustainable smart cities in Taiwan, including secure software development lifecycle counseling in the development stage to help equipment manufacturers improve the system security of devices. In addition, the company offers testing services in the delivery stage to detect possible entry points for attackers to exploit and offers continuous monitoring and management to respond to security incidents in real time. CHT Security’s strong commitment to introducing relevant services to secure connected devices and developing a secure IoT ecosystem differentiates it from competitors.
With its strong industry expertise and cybersecurity capabilities, CHT Security has accumulated over 40 critical common vulnerabilities and exposures in the past 2 years, many of which are related to IoT device vulnerabilities. The company has capitalized on its rich threat intelligence to introduce HiNet Cyber Threat Gatekeeper, a new cost-effective solution that helps organizations protect their IoT devices. As a leading managed security service provider (MSSP) in Taiwan, CHT Security offers a broad service portfolio, including managed and professional security services, to meet the rising demand for reliable IT security. The company established the HiNet security operations center (SOC) in 2003 to provide security outsourcing services, thus developing extensive experience and an impressive track record in protecting enterprises and government bodies against all cybersecurity attacks.
“With significant investments in innovation and R&D, CHT Security stands out from its competitors in helping industries and customers manage security challenges while achieving broader business objectives,” stated Vivien Pua, a Frost & Sullivan Senior Industry Analyst.
CHT Security dominated the Taiwanese cybersecurity service market in 2021, recording a healthy 21.5% year-over-year growth and having a significant presence across verticals, including government; manufacturing; and business, financial services, and insurance (BFSI), despite challenging and uncertain market conditions. The company has positioned itself as the trusted security partner to key government agencies, participants in the critical infrastructure sector, financial service providers, and high-technology manufacturers. The company leads the cybersecurity service market with its holistic and extensive security service offerings, strengthened by its established reputation, commitment to innovation, and continuous efforts in expanding its partnerships with technology vendors to support customers better.
Pua added that “CHT Security’s continuous efforts in expanding its solutions and strategic partnerships have enabled it to achieve a competitive edge and remain the top-of-mind choice among enterprises and government agencies in Taiwan.” The company’s robust business performance in 2021 amid a challenging business environment reflects its solidified market leadership position in the country.
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence, in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies and the resulting leadership, in terms of customer value and market penetration.
Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.