Market Overview:
with increasing adoption of cloud-based data storage solutions and rapid industrial development, the need for reliable and highly effective security solutions is skyrocketing. Managed security services are such network security solutions that are outsourced to the service providers in order to alleviate the issue regarding information security such as client data theft, targeted malware, resource constraints and skill shortage. As per the report published by Market Research Future (MRFR), the global managed security services market is registered to expand significantly at a robust CAGR of over 13.9% during the forecast period of 2020-2030 and to reach the valuation of USD 72.37 Billion by the end of 2030.
Market Drivers:
Increasing pressure on various organizations to comply with stringent regulations and rise in complexities in network infrastructure are intensifying the need for outsourcing the security task to third-party managed security service providers, leading to the noteworthy expansion of the global Managed Security Services Industry. Increasing adoption of cloud-based solutions for big data storage, implementation of BOYD and rapid rise in cyber theft are inducing high demand for managed security solutions, which in turn is fueling the growth of the global managed security services market.
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Market Segmentation:
The global managed security services market has been segmented on the basis of service type, organization size, deployment and end-user. Based on service type, the managed security services market is segmented into IPS and IDS, DDOS, endpoint security, unified threat management, SIEM and firewall management.
Based on organization size, the managed security services market is segmented into SMBs and large enterprise. Based on deployment type, the managed security services market is segmented into cloud, on-premise and hybrid. Based on end-user, the managed security services market is segmented into BSFI, IT/ITES, retail, manufacturing, aerospace and defense, healthcare, government and others.
Regional Analysis:
Geographically, the global managed security services market has been segmented into Asia Pacific, North America, Europe, and the Middle East and Africa. Among these, the North America region is anticipated to constitute for the largest share in the global managed security service market owing to the rapid adoption of managed security solutions by various companies and organizations as a result of increasing security threats for important information.
The Europe region is anticipated to hold second position in the global managed security services market, with respect to market size. The ever-changing rules and regulation and increasing demand for security expertise in various enterprises are driving the managed security services market in this region. The Asia Pacific region is poised to project significant growth in the global managed security services market owing to the increasing number of companies that are outsourcing the security solutions for larger organizations.
Industry Updates:
On 18th September 2018, SolarWinds MSP, a leader in delivering comprehensive IT service management solutions to IT solution providers and managed security service providers, has launched SolarWinds Threat Monitoring Service Program
On 20th August 2018, Bell Techlogix, a leading IT managed services and solutions company, has launched its first in a series Managed security service solution.
Key Players:
The prominent players that are profiled by MRFR in the report on the global managed security services market are IBM (the U.S.), Verizon Communications (the U.S.), CenturyLink (the U.S.), AT&T (the U.S.), Symantec Corporation (the U.S.), HP Enterprises (the U.S.), Fortinet (the U.S.), Solutionary Inc. (the U.S.), Dell SecureWorks (the U.S.), CSC (the U.S.), Trustwave (the U.S.), Rapid 7 (the U.S.), BT Group (the U.K.) and others.
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Managed Security Services Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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