Report : Managed Security Services Market to 2025 - Global Analysis and Forecast by Service Type (Threat Management, Vulnerability Management, Log Management, Compliance Management, and SIEM); Threat Management Type (Managed Firewall, Managed IDS/IPS, Managed VPN, Managed Anti-Virus and Malware, Managed Gateway Security, Managed IAM, Managed DLP, Others); Deployment Type, Enterprise Size, and Verticals (IT and Telecom, Retail, BFSI, Healthcare, Government, Manufacturing, Energy & Utility, Media, and Others)
According to the new research report published by The Insight Partners, titled “Managed Security Services - Global Analysis and Forecast to 2025”, the global managed security services market is expected to reach US$ 61,855.5 Mn in 2025, registering a CAGR of 16.9% during the forecast period 2017-2025.
In 2016, North America accounted for the largest revenue share of more than one-third of the total market share, followed by Europe.
The increasing number of cyber-crimes in the US, affecting the confidentiality of majority of the companies, it has now become necessary for every business to have a managed and advanced security services. This reason is leading the growth of managed security services market in North America.
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. Managed Security Services Providers offer complete managed security solutions 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.
The managed security services market is segmented by service type, which includes Threat Management, Vulnerability Management, Log Management, Compliance Management, and SIEM. These types deal with various threats and attack that may affect the confidentiality of an organization and can hamper the reputation of the organization in terms of customer loyalty. The threat management market is moving towards maturity phase and is expected to witness decremented growth during the forecast period. However, the demand for threat management services will continue to increase as it provides the core and basic managed security services to organizations. Currently, Asia Pacific market remains strong and shows decent growth in the future as well. However, MEA and SAM region are witnessing high rate of cyber-attacks and due to their poor IT infrastructure, the demand for threat management will grow.
Key findings of the study:
North America is anticipated to account the largest managed security services market share and would register a CAGR of 14.7%.
Based on the service type, threat management is projected to dominate the market.
In Asia Pacific, China held the largest market share and it is expected to experience continuous growth during the forecast period of 2017- 2015 with a CAGR of 17.6%.
Europe holds the second largest market share in 2016. One of the major reason for the growing demand for managed security services in the region is the increasing demand from the organizations for a better security solution. Many of the large players have, such as NTT, Symantec, and others, have set up their offices in countries like France for providing managed security services. In Germany, increasing customer’s needs in the country has made many large MSS players to expand their market in the country such as IBM, Deutsche Telekom, and others.
The key companies profiled in this report include 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.
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