Managed Security Services Market, By Industry Type (BFSI (Banking, Financial Services and Insurance), Healthcare, Retail, Manufacturing, Telecom & IT, and Others), By Deployment Type (On–Premises, Cloud–based, and Hybrid), By Application (IPS and IDS, Distribution Denial of Services (DDoS), Unified Threat Management, Secured Information and Event Management (SIEM), Firewall Management, Endpoint Security, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis, and Forecast till 2030

Global managed security services market accounted for USD 32.4 Billion in 2020 and is estimated to reach USD 77.05 Billion by 2030 and is anticipated to register a CAGR of 8.7%.

Managed security services are network services with a systematic approach to managing an organization’s security needs which are generally outsourced to a service provider or in-house. The managed security services provide positive monitoring of the customer’s security environment and also provide security against DDOS attacks, email viruses, firewalls, and intrusion detection and prevention services. These services provide skilled resources, network infrastructure, advanced security solutions, 24×7 support, and monitoring, and are cost-effective. It provides outsourced monitoring and management of security devices and systems. It delivers networks and focuses on providing cybersecurity services. They provide accurate scans across network assets, hosts, web applications, and databases.

Rising cybersecurity attacks

The major key factor driving the growth of the global managed security services market is a rise in the frequency of cyber security attacks. Additionally, cost-effectiveness, continuous security monitoring, and deep and broad security protection are other major benefits propelling the growth of the global market. Furthermore, the increase in the use of mobile devices, and the increasing demand for managed security services from small and medium enterprises are expected to fuel the growth of the global market over the forecast period. Increasing technology gives birth to numerous frauds and scams, which in turn increases the demand for such software.

However, the lack of backend tool integration, the risk of important information getting leaked, and security tools and platforms' fail to providea level of scalability hamper the growth of the global managed security services market. Also, complex IT infrastructure and chances of failure during implementation are expected to restrain the growth of the global managed security services market over the forecast period.

The global managed security services market is segmented based on industry type, deployment type, application, and region.

On the basis of industry type, the global market is segmented into BFSI (Banking, Financial Services and Insurance), healthcare, retail, manufacturing, telecom & IT, and others. Based on deployment type, the target market is bifurcated into on–premises, cloud–based, and hybrid. Based on application, the global market is categorized into IPS and IDS, distribution denial of services (DDoS), unified threat management, secured information and event management (SIEM), firewall management, endpoint security, and others.

Regional Insights:

In the region, the global managed security services market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region is expected to dominate the global market over the forecast period. This is due to the presence of developed countries like the United States, and Canada and also due to the high adoption of managed security solutions to handle the ever-changing rules and regulations. Europe accounts for be second largest market share in the global market and will have steady and positive growth in the global market over the forecast period. Asia-Pacific region is expected to show positive growth in the global market over the forecast period.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. This study segmented the global managed security services market report based on industry type, deployment type, application, and region.

Global Managed Security Services Market, By Region:

• • • North America
      • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of the Middle East & Africa

The key players operating in the global managed security services market include IBM Corp., Verizon Communications, Inc., CenturyLink, Inc., AT&T Wireless, Symantec Corporation, HP Enterprises Company, Fortinet, inc., Solutionary, Inc., SecureWorks Corp., and CSC, Inc.

IBM Corporation:

They have developed the X-Force Protection Platform rand ecommended actions like hash banning or device quarantine. From a single view, your analysts can authorize a recommended action or request to automate future actions based on existing rules or new rules created by IBM.

• IBM Corp.
• Verizon Communications Inc.
• Century Link Inc.
• AT & T Wireless
• Symantec Corp.
• HP Enterprises Company
• Fortinet Inc.
• Solutionary Inc.
• Secure Works Corp.
• CSC Inc.