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Managed Security Services Market Size Expected to Reach USD 46.3 Billion with CAGR of 10.8% by 2027 – IndustryARC

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Managed Security Services Market Size Expected to Reach USD 46.3 Billion with CAGR of 10.8% by 2027 – IndustryARC

September 19
22:38 2022
Managed Security Services Market Size Expected to Reach USD 46.3 Billion with CAGR of 10.8% by 2027 - IndustryARC
Market Research Reports, Business Consulting Services & Analytics
Increased adoption of connected devices with rise in malware attacks, IoT security constraints, and so on along with growing rate of cybercrimes across varied industry verticals is analyzed to significantly drive the global Managed Security Services Market

IndustryARC, in its latest report, predicts that 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. The  Managed Security Services Market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

 

Competitive Landscape:

The top 5 players in the Managed Security Services industry are –

1. IBM Corporation

2. AT&T Inc.

3. ATOS

4. Secureworks Inc.

5. Trustwave Holdings

 

Interested in knowing more relevant information? Click here:

https://www.industryarc.com/pdfdownload.php?id=16318

 

Segmental Analysis :

1. Based on deployment model, Cloud segment is analyzed to grow with the highest CAGR of 12.5% in the global managed security services market during the forecast period 2022-2027. This market growth will be attributed to varied factors such as growing adoption of cloud-based services within enterprises, increased cloud deployment for data storage and management applications, and significant workload shift towards public or private cloud environments.

2. North America region accounted for the largest share of around 39% in the global Managed Security Services market in 2021, owing to factors like rising investment on IT infrastructural security, increased dependency on cloud based applications and services as well as growth of data breach inclidents across industries. High investments on R&D activities from key market players like IBM, AT&T and Verizon, rise in cybercriminal activities, growing penetration of digital banking, and so on have been also impacting its market growth overtime across the region.

3. Banking, Financial Services & Insurance (BFSI) sector is analyzed to witness the fastest growth with a CAGR of 11.4% in the global managed security services market during 2022-2027. Rising number of security breach incidents within banks and financial institutions, significant demand towards security solutions for data protection, increasing shift towards online banking services and so on can be considered as some of the prime factors impacting the market growth.

 

 

Report Coverage

Report Attributes

Details

By Type

Managed Application Security, Managed Cloud Security, Managed Detection & Response, Managed Security Risk, Managed Security & Compliance, Managed Database Security, Security Device Management, Threat Advisory & Intelligence.

By Deployment Model

Cloud, On Premises

By Service Provider

IT Service Providers, Telecom Service Providers, Managed Security Service Providers/ Specialists

By Organization Size

Small & Medium-Sized Enterprises, Large Enterprises

By Application

Intrusion Detection & Prevention, Endpoint Security, Firewall Management, Unified Threat Management, Network Security Management, Distributed Denial of Services.

By End Users

IT & Telecommunications, Banking, Financial Services & Insurance, Healthcare & Lifesciences, Manufacturing, Retail & E-commerce, Government, Travel & Hospitality, Education

By Geography

North America, Europe, Asia-Pacific, South America and Rest of World

 

Get more detailed information about these segments in the report. Buy it here:

https://www.industryarc.com/reports/request-quote?id=16318

 

Market Drivers and Challenges :

1. Rising rate of cybercrimes across varied industry verticals is potentially driving the need for threat identification, data protection, risk assessment and others: Rise in rate of cybercrimes across varied industry verticals act as one of the major drivers boosting the market growth of managed security services. This significantly drives the need for solutions capable of serving application areas including threat identification, data protection, risk assessment and others, which in turn raises the demand for managed security services across organizations.

2. Increased adoption of connected devices contributes to rising malware attacks, IoT security constraints, and so on, which drives the market growth for managed security services: Increased adoption of connected devices drives the demand for managed security services prior to rise in malware attacks, IoT security constraints, and so on, thereby creating a positive impact on its market growth. Due to shift towards digital transformation and automating workloads within varied industries, the manufacturers have started focusing on higher utilization of connected devices to improve work productivity and flexibility standards.

3. Limited adoption of managed security services offered by third party service providers due to lack of trust from the end use customers hinders its market growth: Limited adoption of managed security services offered by third party service providers due to lack of trust from the end use customers can be considered as one of the major factors restraining the market growth. Various small-scale businesses or enterprises having limited availability of in-house security expertise or with budgetary constraints, generally rely on third party service providers for maintaining its business operations.

 

Why IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. Get detailed report on preferred market as per your specific requirements and our research experts would customize the report for you.

Email: [email protected]

USA: (+1) 614-588-8538,  (+1) 815-656-4596

 

Similar Reports :

A. Network Security Appliance Market

https://www.industryarc.com/Report/16361/network-security-appliance-market.html

B. Testing, Inspection and Certification Market

https://www.industryarc.com/Report/15033/testing-inspection-certification-market.html

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Company Name: IndustryARC
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Phone: (+1) 970-236-3677
Address:Madhapur
City: Hyderabad
Country: India
Website: https://www.industryarc.com/Report/16318/managed-security-services-market.html

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