The global Managed Security Services market size is projected to reach USD 47240 Million by 2027, from USD 21030 Million in 2020, at a CAGR of 11.8% during 2021-2027.
The industry's main drivers are the rise in security breaches and the rise in threats to both large and small organizational structures. The possibility for usage across vertical lines has risen due to the necessity to take the necessary precautions in advance to maintain overall security posture and technology advancements in cloud and IoT.
The possibility for usage across vertical lines has risen due to the necessity to take the necessary precautions in advance to maintain overall security posture and technology advancements in cloud and IoT. The Managed Security Services (MSS) industry is anticipated to be driven by strict regulatory compliance requirements and increasingly sophisticated cyberattacks.
The primary factors driving the expansion of the managed security services market size are anticipated to be rising instances of security breaches and an uptick in threats that endanger both large and small organizational structures. With the expansion of business in terms of scale and organizational structure, the job of information security is getting more complex. Organizations are concerned about the rise in security risks and criminal activity by organized cyber-criminal gangs. Additionally, the administration of data protection is finding itself facing a substantial challenge due to the growing complexity of network architecture.
In many cases, Managed Security Services may assist secure the information assets around-the-clock for a fraction of the expense of in-house security staff by offering industry-leading tools, innovations, and knowledge. The managed security service industry is anticipated to grow faster as a result of this MSS cost-saving feature.
The managed security market size is anticipated to grow over the forecast period due to increased usage by the BFSI sector. All banks and financial organizations must uphold tight data security in order to comply with regulatory requirements for the security of sensitive citizen data. Additionally, many firms are looking for a strong data protection system to defend their reputation.
Based on type, the market share for managed security services is predicted to be dominated by terminal security. There are an increasing number of endpoints from which a possible assault can originate as businesses grow their operations in outlying locations. This enables businesses to implement terminal threat detection tools to safeguard their endpoints from online dangers.
Based on the region, the greatest market share for managed security services is anticipated to reside in North America. The early adoption of novel and developing technologies as well as the concentration of MSSPs in North America is credited with this supremacy. The number of managed security service providers in North America is rising due to tight information security requirements.
The forecast period is expected to see the highest growth in the Asia Pacific area. Due to rising IT security investment in nations like China and India, this market is expanding quickly. The movement toward stricter cybersecurity rules is another important aspect influencing the growth of the sector.
In the competitive analysis section of the report, leading as well as prominent players of the global Managed Security Services market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2015-2020.
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Report Metric |
Details |
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Report Name |
Managed Security Services Market |
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Base year |
2020 |
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Forecast period |
2021-2027 |
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Units |
Value (USD) |
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Segments covered |
Type, End User, Offerings, Key Vendors, and Region |
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Geographic regions covered |
North America, APAC, Europe, and RoW |
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Companies covered |
IBM (US), SecureWorks (US), Symantec (US), Trustwave (US), Verizon(US), AT&T (US), Atos (France), BAE Systems (UK), BT (UK), CenturyLink (US), DXC (US), Fortinet (US), Fujitsu (Japan), NTT Security (Japan), Wipro (India). |
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