The managed security services landscape is growing and evolving
with innovative services to efficiently and proficiently secure the IT
infrastructure of organization. Due to lack of skilled workforce, many
organizations are not capable enough to fully protect their IT infrastructure.
Moreover, increase in sophistication of cyber-attacks, it is becoming very
challenging for organizations to rely and invest in their in-house security
processes. Hence, many organizations are migrating from their in-house security
processes to third party MSSPs. MSSPs offer complete managed security services
to organization with round the clock monitoring of organization’s IT
infrastructure and preventing them from potential threats and cyber-attacks.
Present-day security processes demands a balance of device management, event
monitoring, and incident response, as well as Governance, Risk, and Compliance
functions. Increasing number of cyber-attacks and ever-growing complex risk and
compliance requirement have led to the demand for third party specialize
security service providers.
North America with the most advanced software and IT services organizations in
the world contributes the largest market share in the global managed security
services market. APAC with large number of emerging countries along with
increasing numbers of smart cities and high FDI, is growing with the highest
growth rate. Europe market stood at the second largest market for managed
security services owing to increasing number of cross-border transactions.
However, Middle East & Africa and South America market is still in the
nascent stage of the market.
The managed security services market is segmented for each region on the basis
of Service Type Deployment Type, Enterprise Size, and Verticals. Each vertical
is further segmented into service type which includes Threat Management,
Vulnerability Management, Log Management, Compliance Management, and SIEM. The
different types of threat management services that are covered in this report
include Managed Firewall, Managed IDS/IPS, Managed VPN, Managed Anti-Virus and
Malware, Managed Gateway Security, Managed IAM, Managed DLP, Others (Managed
Web Content Filtering, and Managed Application Control, and Managed Email). The
end verticals considered in the managed security services market includes IT
and Telecom, Retail, BFSI, Healthcare, Government, Manufacturing, Energy &
Utility, Media, and Others. Five major geographical regions considered within
the scope of this market are North America, Europe, Asia Pacific (APAC), Middle
East and Africa (MEA), and South America (SAM).
The global managed security services market is estimated to grow at a CAGR of
14.7% during the forecast period 2017 – 2025 and accounts for US$ 18,030.9 Mn
in the year 2025. Increasing cyber threats across industries, digital
transformation across industries, and increase in adoption of BYOD are fueling
the growth of managed security services market. Majorly developing economies
contribute a major portion of the market share to the managed security services
market, where cybersecurity market both are growing at significantly higher
pace, also the developed economies are anticipated to demand up-gradation and
innovation in existing managed security services in the coming years.
The key players profiled in the report are AT&T Inc., IBM Corporation, Dell
SecureWorks Inc., Trustwave Holdings, Verizon Communications, Symantec
Corporation, Hewlett Packard Enterprise Development LP, NTT Security,
CenturyLink, Inc., and BT Group plc.