Managed Security Services Market Size, Growth and Share 2023, Revenue, Trends, Competitive Analysis, Future Opportunities and Forecast 2030

 

During the projected period of 2022–2030, the managed security services market is anticipated to develop at a compound annual growth rate (CAGR) of 15.0%.



When a business outsources its IT infrastructure to outside or third-party service providers for round-the-clock monitoring, maintenance, and protection of sensitive data using a methodical approach, it is referred to as managed security services (MSS). It includes enabling security audits and checks, managing firewalls and intrusion detection systems, and resolving emergencies. The dependable and affordable security solutions provided by MSSPs let their client firms to spend less on CPE or in-house security experts while still receiving excellent security management.

                                                                   

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GROWTH DRIVERS:

The adoption of BYOD, CYOD, and WFH among organizations, the rising incidences of cybercrime activities and security breaches across enterprises globally, the complexity of risk and compliance regulations, and the proliferating use of cloud and IoT technology are some of the key factors propelling the growth of the global managed security services market.

Also, over the past several years, there has been a significant increase in the price of maintaining security infrastructure and the typical data breach. Smaller businesses, who do not have any contingency money set up for such situations, have an even greater challenge. Because of this, the adoption of managed security services is crucial and is anticipated to increase in the future years. This, in turn, is anticipated to accelerate the growth of the managed security services market as a whole over the course of the projected period.

In addition, other elements like the accelerating digital transformation across industries, rising business network security spending, the widespread use of electronic devices in the healthcare industry along with the growing need for advanced data protection to secure patient data, and the launch of new products by top industry players are all anticipated to provide the managed security services market with a wealth of growth opportunities.

 

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MANAGED SECURITY SERVICES MARKET SEGMENTATION:

By Security Type:

·         Managed IAM

·         Managed Vulnerability Management

·         Managed Risk and Compliance

·         Managed Detection and Response

·         Managed Firewall

·         Managed IDS/IPS

·         Managed Encryption

·         Managed SIEM

·         Others Security Type

o   Managed Unified Threat Management

o   Managed DDoS

o   Managed DLP

 

By Service Type:

·         Fully Managed Security Services

·         Co-Managed Security Services

 

By Organization Size:

·         Large Enterprises

·         SMEs

 

By Vertical:

·         BFSI

·         Government

·         Healthcare

·         Telecommunication

·         IT and Enterprises

·         Retail

·         Energy and Utilities

·         Manufacturing

·         Other Verticals

o    Education

o    Travel And Hospitality

o    Media And Entertainment

 

By Deployment Mode:

·         Hosted Or Cloud Based Managed Security Services

·         On-premise or Customer Premise Equipment (CPE) Managed Security Services

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

KEY COMPANIES IN MANAGED SECURITY SERVICES MARKET:

·         Wipro Limited

·         Accenture

·         Trustwave Holdings Inc.

·         Lumen Technologies

·         NTT

·         SecureWorks Inc.

·         BT Group plc

·         Atos SE

·         Infosys Limited

·         Verizon Communications Inc.

·         Cipher Security

·         Nuspire

·         International Business Machines Corporation (IBM)

·         Hewlett Packard

·         AT&T Inc.

·         Computer Science Corporation (CSC)

·         Dell Secure Works Inc

·         Cisco Systems Inc

·         Fortinet Inc

·         Other Players

 

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xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.                   

 

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