The global Managed Security Services market size is forecast to reach $46.3 billion by 2027, growing at a CAGR of 10.8% from 2022 to 2027.
Managed Security Services refer to network security services that are outsourced from a service provider to provide firewall management, endpoint security, unified threat management, managed encryption and many others. Emerging trends like Bring your own device (BYOD) and Work from home, governmental mandates or regulations for upgradation of organizational security standards, adoption of cloud services and others can be considered essential in driving the market growth forward. In addition, increasing demand for cost-efficient security services, gradual shift towards migrating workloads in cloud environments, alongside rise in number of security breach incidents have been potentially creating the demand for managed security services.
