"Global Managed Security Services Market – Industry Trends and Forecast to 2030
Global Managed Security Services Market, By Type (Managed Identity and Access Management (IAM), Managed Antivirus/Anti-Malware, Managed Firewall, Managed Risk and Compliance Management, Managed Vulnerability Management, Managed Security Incident and Event Management (SIEM), Managed Intrusion Detection Systems/Intrusion Prevention Systems (IDS/IPS), Managed Unified Threat Management (UTM), Managed Encryption and Others), Deployment Modes (On-Premises and Cloud), Organization Size (Small and Medium-Sized Enterprises (SMEs) and Large Enterprises), Vertical (Banking, Financial Services, and Insurance (BFSI), Government, Retail, Healthcare, IT, Telecom, Utilities, Manufacturing and Others) - Industry Trends and Forecast to 2030.
Data Bridge Market Research analyses that the global managed security services market valued at USD 29,190.62 in 2022 is expected to reach USD 72,068.65 million by 2030, and is expected to undergo a CAGR of 11.96% during the forecast period of 2023 to 2030.
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Managed security service refers to the management of IT security functions by third-party service providers. The major aim behind this is to protect an organization’s crucial information setup against a number of security attacks and malicious practices. Managed security services are effective in continuously monitoring and handling of intrusion detection systems.
**Segments**
- Based on the type, the global managed security services market can be segmented into managed identity and access management, managed antivirus/anti-malware, managed firewall, managed risk and compliance management, and others. The increasing requirement for securing sensitive data and ensuring regulatory compliance is driving the adoption of managed risk and compliance management services.
- In terms of deployment mode, the market is categorized into cloud-based and on-premises. The flexibility, scalability, and cost-effectiveness offered by cloud-based deployment are leading to its higher adoption rate among organizations of all sizes.
- By organization size, the market is segmented into small and medium-sized enterprises (SMEs) and large enterprises. The SMEs segment is witnessing significant growth due to the increasing awareness among smaller organizations about the benefits of outsourcing security operations to managed service providers.
**Market Players**
- IBM Corporation
- Symantec Corporation
- Cisco Systems, Inc.
- Accenture
- Trustwave Holdings, Inc.
- Verizon Communications, Inc.
- Atos SE
- SecureWorks, Inc.
- DXC Technology Company
- BT Group plc
The global managed security services market is highly competitive and marked by the presence of several key players focusing on expanding their service portfolios and geographic presence through acquisitions, partnerships, and collaborations. These market players are investing heavily in research and development to introduce advanced security solutions and cater to the evolving cybersecurity needs of organizations across various industry verticals.
https://www.databridgemarketresearch.com/reports/global-managed-security-services-marketThe global managed security services market is witnessing significant growth due to the increasing complexities and sophistication of cyber threats faced by organizations across different industry verticals. With the rise in data breaches, ransomware attacks, and other forms of cyberattacks, businesses are increasingly turning to managed security service providers to enhance their cybersecurity posture. The demand for managed security services is being primarily driven by the need to protect sensitive data, ensure regulatory compliance, and mitigate cybersecurity risks effectively.
One of the key trends shaping the market is the shift towards cloud-based managed security services. Cloud-based deployment offers organizations the flexibility to scale their security solutions according to their needs, lower operational costs, and access advanced security capabilities without significant upfront investments. As a result, more enterprises are opting for cloud-based managed security services to strengthen their security infrastructure and improve threat detection and response capabilities.
Another significant trend in the market is the increasing focus on managed risk and compliance management services. With stringent data protection regulations such as GDPR, HIPAA, and PCI DSS, organizations are under pressure to ensure compliance with regulatory requirements to avoid penalties and reputational damage. Managed risk and compliance management services help businesses in conducting risk assessments, implementing security controls, and maintaining compliance with industry regulations, thereby reducing their overall cybersecurity risk exposure.
The market is also witnessing a rise in demand for managed identity and access management services, driven by the need to manage user identities, access privileges, and authentication processes effectively. Identity and access management solutions help organizations in controlling user access to critical systems and data, ensuring secure authentication mechanisms, and preventing unauthorized access attempts. As businesses continue to adopt digital transformation initiatives and embrace remote work models, the importance of identity and access management services in safeguarding against insider threats and unauthorized access becomes even more critical.
In conclusion, the global managed security services market is characterized by evolving cybersecurity threats, regulatory pressures, and the increasing adoption of cloud-based security solutions. Market players are focusing on innovation, strategic partnerships, and geographical expansion to cater to the diverse security needs of organizations**Segments**
- Global Managed Security Services Market, By Type (Managed Identity and Access Management (IAM), Managed Antivirus/Anti-Malware, Managed Firewall, Managed Risk and Compliance Management, Managed Vulnerability Management, Managed Security Incident and Event Management (SIEM), Managed Intrusion Detection Systems/Intrusion Prevention Systems (IDS/IPS), Managed Unified Threat Management (UTM), Managed Encryption and Others)
- Deployment Modes (On-Premises and Cloud)
- Organization Size (Small and Medium-Sized Enterprises (SMEs) and Large Enterprises)
- Vertical (Banking, Financial Services, and Insurance (BFSI), Government, Retail, Healthcare, IT, Telecom, Utilities, Manufacturing and Others) - Industry Trends and Forecast to 2030.
The global managed security services market is witnessing substantial growth due to the escalating complexity and sophistication of cyber threats faced by organizations across various industry verticals. Businesses are increasingly relying on managed security service providers to bolster their cybersecurity defenses amid a surge in data breaches, ransomware attacks, and other cyber threats. The demand for managed security services is fueled by the imperative need to protect sensitive data, ensure regulatory compliance, and effectively mitigate cybersecurity risks.
A key trend shaping the market is the transition towards cloud-based managed security services. The flexibility, scalability, cost-effectiveness, and advanced security capabilities offered by cloud deployment are enticing enterprises to opt for cloud-based managed security solutions to fortify their security posture, enhance threat detection, and improve response
Key points covered in the report: -
- The pivotal aspect considered in the global Managed Security Services Market report consists of the major competitors functioning in the global market.
- The report includes profiles of companies with prominent positions in the global market.
- The sales, corporate strategies and technical capabilities of key manufacturers are also mentioned in the report.
- The driving factors for the growth of the global Managed Security Services Market are thoroughly explained along with in-depth descriptions of the industry end users.
- The report also elucidates important application segments of the global market to readers/users.
- This report performs a SWOT analysis of the market. In the final section, the report recalls the sentiments and perspectives of industry-prepared and trained experts.
- The experts also evaluate the export/import policies that might propel the growth of the Global Managed Security Services Market.
- The Global Managed Security Services Market report provides valuable information for policymakers, investors, stakeholders, service providers, producers, suppliers, and organizations operating in the industry and looking to purchase this research document.
TABLE OF CONTENTS
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers and Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
Countries Studied:
- North America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
- Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
- Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
- Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
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