Market Overview:
The global managed cyber security services market is expected to grow from USD 9.81 Billion in 2018 to USD 23.14 Billion by 2030, at a CAGR of 12.8% during the forecast period. The growth of the global managed cyber security services market can be attributed to the increasing number of cyber-attacks and data breaches, and the need for organizations to comply with government regulations and standards. However, lack of awareness about managed cyber security services among small and medium enterprises (SMEs) is a major restraining factor for the growth of this market. Based on type, the on-premise segment is expected to hold a larger share than cloud-based in 2018.
Product Definition:
A managed cyber security service is a service where a third party, usually an IT security company, manages and monitors an organization's computer networks and systems. This can include tasks such as vulnerability scanning and patch management, as well as providing 24/7 support in the event of a cyberattack. The importance of managed cyber security services lies in the fact that they provide organizations with expert support and monitoring which can help them to protect their networks from attack and ensure compliance with regulations.
On-Premise:
On-premise solutions are installed and run from the customer's own hardware. The software is either provided by the service provider or developed by the customer using a combination of off-the-shelf products and custom code. On-premise software generally refers to an application that is designed to be used on computers that are present within an organization, rather than being accessed remotely via a network.
Cloud Based:
Cloud-based solutions are software and services that provide remote access to data from any device, anytime. It helps in accessing the files stored on the server through mobile devices such as smartphones and tablets or PCs with a web browser. Cloud-based solutions offer benefits such as increased productivity, cost efficiency, ease of accessibility & deployment at low maintenance costs which is expected to drive market growth over the forecast period.
Application Insights:
The banking, financial services, and insurance application segment accounted for the largest revenue share in 2017. The growth can be attributed to the increasing cyberattacks on banks and other financial institutions that are trying to manage their IT infrastructure costs. In addition, this industry is expected to grow at a significant rate owing to the growing demand for efficient cybersecurity solutions from various BFSI sectors such as online banking, payment processing systems, e-commerce businesses etc.
The healthcare sector is also expected witness considerable growth over the forecast period owing to increasing breaches in electronic health records (EHRs), which has resulted in exposing patient data across different applications and networks. Furthermore, rising awareness about EHRs among medical professionals will further boost adoption of managed security services over next few years.
Regional Analysis:
North America dominated the global market in 2017. The growth of the region can be attributed to various factors such as increasing government initiatives, rising cyber threats, and growing awareness among users regarding the benefits of managed security services. Moreover, a large number of MSS providers in North America have significantly contributed to market growth over last few years.
Asia Pacific is expected to witness significant growth over the forecast period owing to increasing adoption by enterprises for better manageability and cost-efficiency. Furthermore, favorable regulatory frameworks are also contributing toward regional demand for managed cyber security solutions. Additionally, increased spending on infrastructure development has led telecom companies in Asia Pacific region focus on securing their networks from external attacks thus driving adoption of Managed Security Services (CSS).
Growth Factors:
- Increasing demand for managed security services from small and medium-sized businesses (SMBs) due to the growing sophistication of cyber threats and the lack of in-house expertise or resources to manage these threats.
- The increasing number of data breaches, which has led organizations to outsource their cybersecurity needs to specialized service providers in order to mitigate risk and improve their overall security posture.
- The proliferation of cloud computing and other new technologies that are creating new vulnerabilities that need to be addressed through managed security services.
- The increasing number of regulations such as GDPR that are putting pressure on organizations to improve their cybersecurity posture or face fines and other penalties.
- The growing trend towards outsourcing IT functions, including cybersecurity, which is leading more organizations to turn to Managed Security Service Providers (MSSPs) for help with protecting their networks and data
Scope Of The Report
Report Attributes
Report Details
Report Title
Managed Cyber Security Services Market Research Report
By Type
On-Premise, Cloud Based
By Application
Banking, Financial Services, and Insurance, Healthcare, Telecom and IT, Government and Public Utilities, Aerospace and Defense, Retail
By Companies
Tata Consultancy Services, Secureworks, Symantec, CNS Group, Proficio, IBM, Optiv, Accenture, Honeywell, Assuria
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
234
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Managed Cyber Security Services Market Report Segments:
The global Managed Cyber Security Services market is segmented on the basis of:
Types
On-Premise, Cloud Based
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Banking, Financial Services, and Insurance, Healthcare, Telecom and IT, Government and Public Utilities, Aerospace and Defense, Retail
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Tata Consultancy Services
- Secureworks
- Symantec
- CNS Group
- Proficio
- IBM
- Optiv
- Accenture
- Honeywell
- Assuria
Highlights of The Managed Cyber Security Services Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- On-Premise
- Cloud Based
- By Application:
- Banking, Financial Services, and Insurance
- Healthcare
- Telecom and IT
- Government and Public Utilities
- Aerospace and Defense
- Retail
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Managed Cyber Security Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Managed Cyber Security Services is a type of cybersecurity service that helps organizations protect their networks and data from cyberattacks. Managed Cyber Security Services typically includes the provision of security tools, such as firewalls and intrusion detection systems, as well as the management and monitoring of these systems.
Some of the major players in the managed cyber security services market are Tata Consultancy Services, Secureworks, Symantec, CNS Group, Proficio, IBM, Optiv, Accenture, Honeywell, Assuria.
The managed cyber security services market is expected to grow at a compound annual growth rate of 12.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Managed Cyber Security Services Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Managed Cyber Security Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Managed Cyber Security Services Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Managed Cyber Security Services Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Managed Cyber Security Services Market Size & Forecast, 2020-2028
4.5.1 Managed Cyber Security Services Market Size and Y-o-Y Growth
4.5.2 Managed Cyber Security Services Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 On-Premise
5.2.2 Cloud Based
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Banking
6.2.2 Financial Services
6.2.3 and Insurance
6.2.4 Healthcare
6.2.5 Telecom and IT
6.2.6 Government and Public Utilities
6.2.7 Aerospace and Defense
6.2.8 Retail
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Managed Cyber Security Services Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Managed Cyber Security Services Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 On-Premise
9.6.2 Cloud Based
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Banking
9.10.2 Financial Services
9.10.3 and Insurance
9.10.4 Healthcare
9.10.5 Telecom and IT
9.10.6 Government and Public Utilities
9.10.7 Aerospace and Defense
9.10.8 Retail
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 On-Premise
10.6.2 Cloud Based
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Banking
10.10.2 Financial Services
10.10.3 and Insurance
10.10.4 Healthcare
10.10.5 Telecom and IT
10.10.6 Government and Public Utilities
10.10.7 Aerospace and Defense
10.10.8 Retail
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 On-Premise
11.6.2 Cloud Based
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Banking
11.10.2 Financial Services
11.10.3 and Insurance
11.10.4 Healthcare
11.10.5 Telecom and IT
11.10.6 Government and Public Utilities
11.10.7 Aerospace and Defense
11.10.8 Retail
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 On-Premise
12.6.2 Cloud Based
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Banking
12.10.2 Financial Services
12.10.3 and Insurance
12.10.4 Healthcare
12.10.5 Telecom and IT
12.10.6 Government and Public Utilities
12.10.7 Aerospace and Defense
12.10.8 Retail
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 On-Premise
13.6.2 Cloud Based
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Banking
13.10.2 Financial Services
13.10.3 and Insurance
13.10.4 Healthcare
13.10.5 Telecom and IT
13.10.6 Government and Public Utilities
13.10.7 Aerospace and Defense
13.10.8 Retail
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Managed Cyber Security Services Market: Competitive Dashboard
14.2 Global Managed Cyber Security Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Tata Consultancy Services
14.3.2 Secureworks
14.3.3 Symantec
14.3.4 CNS Group
14.3.5 Proficio
14.3.6 IBM
14.3.7 Optiv
14.3.8 Accenture
14.3.9 Honeywell
14.3.10 Assuria
