Managed Security Services Market Segmentation and Analysis by Recent Trends and Development 2024
29th Jan 2021 - Global Managed Security Services Market is expected to reach USD 60.94 billion by 2024. Managed Security Services (MSS) is termed as a systematic method to manage an administrations security needs. The services may be held outsourced or in house to a service provider that supervises other companies' information and network system security.
Its functions comprise
of responding to emergencies, round-the-clock monitoring and management of
intrusion detection systems and firewalls, performing security assessments and
security audits, and overseeing patch management and upgrades. The managed
security services market is estimated to grow at a significant CAGR over the
forecast period as the scope and its applications are rising enormously across
the globe.
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Growing occurrence of
cyber-attacks on IT infrastructure, strict government policy, and rising BYOD
trends among organizations are documented as major factors of Managed Security
Services Market that are estimated to enhance the growth in the years to come. However,
growth in several strict information security regulations by government may
restrain overall market in the coming years. Managed Security Services industry
is segmented based on type, size, mode, vertical, and region.
Managed Cloud Security,
Managed Network Security, Managed Application Security, Managed Application
Security, and other types could be
explored in Managed Security Services in the forecast period. Others sector
includes managed web security and managed database security. Managed network
security sector accounted for the significant market share of Managed Security
Services and is estimated to lead the overall market in the coming years. Large
enterprises and SMEs are the organization sizes that could be explored in
Managed Security Services in the forecast period. Cloud and on-premises are the
deployment mode that could be explored in Managed Security Services in the
forecast period.
The market may be categorized based on verticals like
retail, banking, financial services, and Insurance (BFSI), manufacturing,
telecom and IT, energy and utilities, healthcare, and others that could be
explored in the forecast period. Others sector comprises automotive, education,
and media & entertainment. The BFSI sector accounted for the significant
market share of Managed Security Services and is estimated to continue its
dominance in the coming years. This may be because of rising use of mobile and
web applications for banking payments and transactions. In addition, healthcare
sector is estimated to grow at significant CAGR in the coming years.
The key players of Managed Security Services market are Wipro, IBM, NTT Security, SecureWorks, Fujitsu, Symantec, Fortinet, Trustwave, DXC, Verizon, CIPHER, AT&T, CenturyLink, Atos, BT, and BAE Systems. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
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Managed Security Services Regional Outlook (Revenue, USD Million, 2014 -
2024)
• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• Asia Pacific
• China
•
India
• Japan
• Latin America
• Brazil
• Mexico
• MEA
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