Market Overview:
The global managed security services market is expected to grow from USD 16.02 billion in 2018 to USD 31.01 billion by 2030, at a CAGR of 9.8% during the forecast period. The growth of the global managed 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. The network security segment is expected to account for the largest share of the global managed security services market in 2018. The growth of this segment can be attributed to the increasing adoption of cloud-based solutions and services by enterprises across different industries worldwide.
Product Definition:
The definition of Managed Security Services is a service that provides organizations with the ability to outsource their security needs to a third party. This could include anything from monitoring and managing firewalls and intrusion detection systems, to providing 24/7 support for security-related issues.
The importance of Managed Security Services can be summed up in two words: risk reduction. By outsourcing your organization's security needs to a third party, you are essentially reducing the amount of risk that is associated with those responsibilities. This can be extremely important, especially for small businesses or organizations that do not have the staff or resources necessary to manage their own security infrastructure.
Network Security:
The global network security market size was valued at USD 10.83 billion in 2015 and is expected to witness a significant growth owing to the increasing cyber-attacks, data theft, and rising government regulations. The growing demand for cloud computing services has led to an increase in the number of threats on networks; this is expected to drive industry growth over the forecast period.
Terminal Security:
The global terminal security and's usage in the managed security services market is expected to witness significant growth over the forecast period. The major drivers for this market are increasing cyber threats, growing terrorist activities, and need for safety & security at airports. Moreover, increase in air passenger traffic has led to a rise in concerns related to airport safety & surveillance which is further driving the demand for managed terminal services globally.
Application Insights:
The financial services application segment accounted for the largest revenue share in 2016 and is expected to continue its dominance over the forecast period. The growth of this industry can be attributed to increasing demand for efficient risk management practices that help organizations manage their security posture, comply with regulatory mandates, and maintain a competitive edge over their rivals.
Managed security service providers are adopting innovative technologies such as big data analytics and cloud computing that helps them offer enhanced customer experience by anticipating customer requirements, reducing costs associated with system administration, monitoring & detecting intrusions & malware attacks quickly & efficiently. These factors are anticipated to drive the adoption of managed security services across various industries in near future.
Regional Analysis:
North America dominated the global market in 2017. The growth of the region can be attributed to several factors such as increasing government regulations, high awareness about cyber security, and presence of key companies in the region. Asia Pacific is expected to witness significant growth over the forecast period owing to rising demand for managed security services from small & medium enterprises (SMEs). Moreover, growing penetration of cloud technology is also anticipated to drive regional market growth over next eight years. Additionally, increasing investments by governments are driving adoption across various sectors such as healthcare and manufacturing which will further propel regional demand during forecast period.
The industry verticals that are likely to experience a notable rise in spending on managed security services include Healthcare & Life Sciences; Manufacturing; IT & telecom; BFSI sector including banking and financial services; Government sector among others.
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 security expertise among these organizations.
- The increasing number of data breaches, which has led to a heightened awareness among organizations about the need for robust cybersecurity solutions and services.
- The growing adoption of cloud computing and big data technologies, which has resulted in an increase in the number of sensitive data repositories that are vulnerable to cyberattacks.
- The increasing use of mobile devices and BYOD policies in enterprises, which has made companies more susceptible to malware attacks and other cybersecurity threats.
- The rising costs associated with deploying and managing traditional security solutions, such as firewalls, intrusion detection/prevention systems (IDS/IPS), etc., which is driving organizations towards managed security services
Scope Of The Report
Report Attributes
Report Details
Report Title
Managed Security Services Market Research Report
By Type
Network Security, Terminal Security, Application Security, Cloud Security
By Application
Financial Services, Communications Industry, Public Sector, Media, Retail, Manufacturing, Medical, Other
By Companies
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)
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
225
Number of Tables & Figures
158
Customization Available
Yes, the report can be customized as per your need.
Global Managed Security Services Market Report Segments:
The global Managed Security Services market is segmented on the basis of:
Types
Network Security, Terminal Security, Application Security, Cloud Security
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
Financial Services, Communications Industry, Public Sector, Media, Retail, Manufacturing, Medical, Other
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:
- 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)
Highlights of The Managed 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:
- Network Security
- Terminal Security
- Application Security
- Cloud Security
- By Application:
- Financial Services
- Communications Industry
- Public Sector
- Media
- Retail
- Manufacturing
- Medical
- Other
- 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 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 security services are a type of technology that helps organizations protect their data and systems from cyberattacks. Managed security services can include everything from intrusion detection and prevention to malware removal and incident response.
Some of the key players operating in the managed security services market are 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).
The managed security services market is expected to register a CAGR of 9.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Managed 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 Security Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Managed 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 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 Security Services Market Size & Forecast, 2020-2028
4.5.1 Managed Security Services Market Size and Y-o-Y Growth
4.5.2 Managed 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 Network Security
5.2.2 Terminal Security
5.2.3 Application Security
5.2.4 Cloud Security
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 Financial Services
6.2.2 Communications Industry
6.2.3 Public Sector
6.2.4 Media
6.2.5 Retail
6.2.6 Manufacturing
6.2.7 Medical
6.2.8 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Managed 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 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 Network Security
9.6.2 Terminal Security
9.6.3 Application Security
9.6.4 Cloud Security
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 Financial Services
9.10.2 Communications Industry
9.10.3 Public Sector
9.10.4 Media
9.10.5 Retail
9.10.6 Manufacturing
9.10.7 Medical
9.10.8 Other
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 Network Security
10.6.2 Terminal Security
10.6.3 Application Security
10.6.4 Cloud Security
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 Financial Services
10.10.2 Communications Industry
10.10.3 Public Sector
10.10.4 Media
10.10.5 Retail
10.10.6 Manufacturing
10.10.7 Medical
10.10.8 Other
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 Network Security
11.6.2 Terminal Security
11.6.3 Application Security
11.6.4 Cloud Security
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 Financial Services
11.10.2 Communications Industry
11.10.3 Public Sector
11.10.4 Media
11.10.5 Retail
11.10.6 Manufacturing
11.10.7 Medical
11.10.8 Other
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 Network Security
12.6.2 Terminal Security
12.6.3 Application Security
12.6.4 Cloud Security
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 Financial Services
12.10.2 Communications Industry
12.10.3 Public Sector
12.10.4 Media
12.10.5 Retail
12.10.6 Manufacturing
12.10.7 Medical
12.10.8 Other
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 Network Security
13.6.2 Terminal Security
13.6.3 Application Security
13.6.4 Cloud Security
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 Financial Services
13.10.2 Communications Industry
13.10.3 Public Sector
13.10.4 Media
13.10.5 Retail
13.10.6 Manufacturing
13.10.7 Medical
13.10.8 Other
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 Security Services Market: Competitive Dashboard
14.2 Global Managed Security Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 IBM (US)
14.3.2 SecureWorks (US)
14.3.3 Symantec (US)
14.3.4 Trustwave (US)
14.3.5 Verizon(US)
14.3.6 AT&T (US)
14.3.7 Atos (France)
14.3.8 BAE Systems (UK)
14.3.9 BT (UK)
14.3.10 CenturyLink (US)
14.3.11 DXC (US)
14.3.12 Fortinet (US)
14.3.13 Fujitsu (Japan)
14.3.14 NTT Security (Japan)
14.3.15 Wipro (India)
