The managed security services market is expected to grow from US$ 24.13 billion in 2022 to US$ 50.07 billion by 2028; it is anticipated to grow at a CAGR of 12.9% from 2022 to 2028.
Information and data have become the two most important pillars for any business in the current times. Security of the same has also become the topmost priority for enterprises. This is increasing the demand for solutions such as threat management, vulnerability management, log management, security information & event management (SIEM), and compliance management. Intrusion detection systems (IDS) and intrusion prevention systems are two of the most important tools in information security. For the effective layer of security, these two devices need to be tuned in to the network they are monitoring. Keeping these devices integrated and synced with each other prevents the team from chasing many alerts that are false positives, and improved insights that help in taking the right and immediate actions against threats. Firewalls look only at the data traffic alone, while IDS/IPS system looks at the content within the traffic. When consistently tuned, the system can generate many alerts that should be monitored to ensure they are escalated and investigated further if required or dismissed in the case of false alarms. These advanced solutions are being deployed across enterprises for ensuring the timely detection of threats, thereby contributing to the global managed security services market growth.
Moreover, several e-business initiatives such as virtual customer care and e-commerce depend on unprecedented levels of network access and agility. The more organizations rely on unprecedented data networks and the internet, the more vulnerable they become to security breaches that can harm the system as well as the reputation of the company. Managed VPN solutions provide robust VPN connectivity regardless of connection type and speed and are responsible for defense by securing the traffic flowing in and out of the organization. Branch offices, remote workers, and traveling employees can all connect to headquarters with the help of a site-to-site tunnel without comprising security.
Strategic Insights
Threat Management, commonly known as unified threat management (UTM), is an approach to security management that allows the administrator to manage a comprehensive variety of security-related applications and components through a single management console. UTM is a cloud service that is an evolution over the traditional firewall, which provides various security functions, such as network firewalls, intrusion detection, gateway antivirus, gateway anti-spam, VPN, content filtering, load balancing, data loss prevention, and on-appliance reporting, in a single package. UTM for enterprise includes advanced features such as identity-based access control, load balancing, intrusion prevention, SSL and SSH inspection, and application awareness. The increasing adoption of cloud and digital solutions across industries is elevating the risk of various threats like viruses and intrusion. These factors are influencing the rise in demand for threat management solutions, thereby contributing to the managed security services market growth.
Regional Analysis of Managed Security Services Market Size
From the regional perspective, North America held the largest share of the global managed security services market in 2021. The region has a huge presence of companies from different industries. According to the Federal Bureau of Investigation, over the years, these companies have experienced a rise in cyberattacks leading to a loss of ~US$ 6.9 billion each time. These factors have increased the demand for advanced security solutions to ensure the safety of internal business data and other important documents. Moreover, the adoption of the cloud is high across the region. These factors are driving the North America managed security services market size.
Lucrative Regions – Managed Security Services Market Share
Market Insights – Managed Security Services Market
Deployment Type-Based Insights
Based on deployment type, the managed security services market is segmented into hosted managed security services (MSS) and customer premises equipment (CPE) MSS. The hosted MSS segment accounted for a larger share of the global managed security services market in 2021. The demand for the cloud is growing tremendously for storage applications among businesses. Over the years, enterprises have increased their deployment of the cloud via third-party cloud service providers (CSPs) to manage applications and data within their infrastructure. Moreover, key players in the market are providing built-in security tools that help in protecting business-critical data. Individuals and businesses are attracted to cloud infrastructures as they provide service scalability and further ease the management workload for in-house IT staff. Thus, the increasing adoption of cloud infrastructure is also influencing the demand for advanced hosted security solutions to offer easy access to various specialized tools such as SIEM, IAM, and security intelligence through network forensics, cloud security, and endpoint management. These factors are contributing to the growth of the hosted MSS segment in the global managed security services market.
Players operating in the managed security services market are mainly focused on developing advanced and efficient products.
- In August 2022, Microsoft Corporation announced its new solutions for threat intelligence and attack surface management.
- In September 2022, Checkpoint Software launched its new security operation solutions and service suite for improved security across networks, cloud, and endpoints to combat cyberattacks.
The managed security services market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa, and South America. In 2021, North America led the market with a substantial revenue share, followed by Europe. Further, Asia Pacific is expected to register the highest CAGR in the managed security services market from 2022 to 2028.
The key global managed security services market players include AT&T Inc, IBM Corporation, Dell Secureworks Inc, Trustwave Holdings Inc, Verizon Communications Inc. Apart from these, several other managed security services market players were analyzed during the research study. Some of them are Symantec Corporation, Hewlett Packard Enterprise Co, CenturyLink, NTT Corporation, and British Telecommunications.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Service Type, Threat Management Type, Deployment Type, Enterprise Type, and Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Table of Contents
1.1 List of Tables
1.2 List of Figures
2 Introduction
2.1 Scope of the Study
2.2 The Insight Partners Research Report Guidance
3 Key Takeaways
4. Managed Security Services Market Landscape
4.1 Market Overview
4.2 Market Segmentation
4.2.1 Global Managed Security Services Market - By Service Type
4.2.2 Global Managed Security Services Market - By Threat Management Type
4.2.3 Global Managed Security Services Market - By Deployment Type
4.2.4 Global Managed Security Services Market - By Enterprise Size
4.2.5 Global Managed Security Services Market - By Vertical
4.3 PEST Analysis
4.3.1 North America PEST Analysis
4.3.2 Europe PEST Analysis
4.3.3 Asia Pacific PEST Analysis
4.3.4 Middle East & Africa PEST Analysis
4.3.5 South America PEST Analysis
5 Global Managed Security Services Market - Key Industry Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis
6 Managed Security Services Market - Global
6.1 Global Managed Security Services Market Overview
6.2 Global Managed Security Services Market Forecast and Analysis
7 Global Managed Security Services Market Analysis - Service Types
7.1 Overview
7.2 Threat Management
7.2.1 Overview
7.2.2 Global Threat Management Market Revenue and Forecasts to 2025 (US$ Mn)
7.3 Vulnerablity Management
7.3.1 Overview
7.3.2 Global Vulnerablity Management Market Revenue and Forecasts to 2025 (US$ Mn)
7.4 Log Management
7.4.1 Overview
7.4.2 Global Log Management Market Revenue and Forecasts to 2025 (US$ Mn)
7.5 Compliance Management
7.5.1 Overview
7.5.2 Global Compliance Management Revenue and Forecasts to 2025 (US$ Mn)
7.6 SIEM
7.6.1 Overview
7.6.2 Global SIEM Market Revenue and Forecasts to 2025 (US$ Mn)
8 Global Managed Security Services Market Analysis - Threat Management Types
8.1 Overview
8.2 Managed Firewall
8.2.1 Overview
8.2.2 Global Managed Firewall Market Revenue and Forecasts to 2025 (US$ Mn)
8.3 Managed IDS/IPS
8.3.1 Overview
8.3.2 Global Managed IDS/IPS Market Revenue and Forecasts to 2025 (US$ Mn)
8.4 Managed VPN
8.4.1 Overview
8.4.2 Global Managed VPN Market Revenue and Forecasts to 2025 (US$ Mn)
8.5 Managed Anti-Virus and Malware
8.5.1 Overview
8.5.2 Global Managed Anti-Virus and Malware Revenue and Forecasts to 2025 (US$ Mn)
8.6 Managed Gateway Security
8.6.1 Overview
8.6.2 Global Managed Gateway Security Market Revenue and Forecasts to 2025 (US$ Mn)
8.7 Managed Gateway Security
8.7.1 Overview
8.7.2 Global Managed Gateway Security Market Revenue and Forecasts to 2025 (US$ Mn)
8.8 Managed IAM
8.8.1 Overview
8.8.2 Global Managed IAM Market Revenue and Forecasts to 2025 (US$ Mn)
8.9 Managed DLP
8.9.1 Overview
8.9.2 Global Managed DLP Market Revenue and Forecasts to 2025 (US$ Mn)
8.10 Others
8.10.1 Overview
8.10.2 Global Others Market Revenue and Forecasts to 2025 (US$ Mn)
9 Global Managed Security Services Market Analysis - Deployment Types
9.1 Overview
9.2 Hosted MSS
9.2.1 Overview
9.2.2 Global Hosted MSS Market Revenue and Forecasts to 2025 (US$ Mn)
9.3 CPE - based MSS
9.3.1 Overview
9.3.2 Global CPE - based MSS Market Revenue and Forecasts to 2025 (US$ Mn)
10 Global Managed Security Services Market Analysis - Enterprise Sizes
10.1 Overview
10.2 Large Enterprises
10.2.1 Overview
10.2.2 Global Large Enterprises Market Revenue and Forecasts to 2025 (US$ Mn)
10.3 SMEs
10.3.1 Overview
10.3.2 Global SMEs Market Revenue and Forecasts to 2025 (US$ Mn)
11 Global Managed Security Services Market Analysis - Verticals
11.1 Overview
11.2 IT and Telecom
11.2.1 Overview
11.2.2 Global IT and Telecom Market Revenue and Forecasts to 2025 (US$ Mn)
11.3 Retail
11.3.1 Overview
11.3.2 Global Retail Market Revenue and Forecasts to 2025 (US$ Mn)
11.4 BFSI
11.4.1 Overview
11.4.2 Global BFSI Market Revenue and Forecasts to 2025 (US$ Mn)
11.5 Healthcare
11.5.1 Overview
11.5.2 Global Healthcare Revenue and Forecasts to 2025 (US$ Mn)
11.6 Government
11.6.1 Overview
11.6.2 Global Government Market Revenue and Forecasts to 2025 (US$ Mn)
11.7 Manufacturing
11.7.1 Overview
11.7.2 Global Manufacturing Market Revenue and Forecasts to 2025 (US$ Mn)
11.8 Energy & Utility
11.8.1 Overview
11.8.2 Global Energy & Utility Market Revenue and Forecasts to 2025 (US$ Mn)
11.9 Media
11.9.1 Overview
11.9.2 Global Media Market Revenue and Forecasts to 2025 (US$ Mn)
11.10 Others
6.10.1 Overview
6.10.2 Global Others Market Revenue and Forecasts to 2025 (US$ Mn)
12 Global Managed Security Services Market - Geographical Analysis
12.1 Overview
12.2 North America Managed Security Services Market Revenue and Forecasts to 2025
12.2.1 Overview
12.2.2 North America Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.2.3 North America Managed Security Services Market Breakdown by Key Countries
12.2.3.1 U.S. Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.2.3.2 Canada Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.2.3.3 Mexico Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.2.4 North America Managed Security Services Market Breakdown by Services Type
12.2.5 North America Managed Security Services Market Breakdown by Threat Management Type
12.2.6 North America Managed Security Services Market Breakdown by Deployment Type
12.2.7 North America Managed Security Services Market Breakdown by Enterprise Size
12.2.8 North America Managed Security Services Market Breakdown by Vertical
12.3 Europe Managed Security Services Market Revenue and Forecasts to 2025
12.3.1 Overview
12.3.2 Europe Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.3.3 Europe Managed Security Services Market Breakdown by Key Countries
12.3.3.1 France Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.3.3.2 Germany Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.3.3.3 Italy Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.3.3.4 Spain Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.3.3.5 UK Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.3.4 Europe Managed Security Services Market Breakdown by Services Type
12.3.5 Europe Managed Security Services Market Breakdown by Threat Management Type
12.3.6 Europe Managed Security Services Market Breakdown by Deployment Type
12.3.7 Europe Managed Security Services Market Breakdown by Enterprise Size
12.3.8 Europe Managed Security Services Market Breakdown by Vertical
12.4 Asia Pacific (APAC) Managed Security Services Market Revenue and Forecasts to 2025
12.4.1 Overview
12.4.2 Asia Pacific Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.4.3 Asia Pacific Managed Security Services Market Breakdown by Key Countries
12.4.3.1 Japan Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.4.3.2 China Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.4.3.3 India Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.4.3.4 Australia Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.4.4 Asia Pacific Managed Security Services Market Breakdown by Services Type
12.4.5 Asia Pacific Managed Security Services Market Breakdown by Threat Management Type
12.4.6 Asia Pacific Managed Security Services Market Breakdown by Deployment Type
12.4.7 Asia Pacific Managed Security Services Market Breakdown by Enterprise Size
12.4.8 Asia Pacific Managed Security Services Market Breakdown by Vertical
12.5 Middle East & Africa (MEA) Managed Security Services Market Revenue and Forecasts to 2025
12.5.1 Overview
12.5.2 Middle East & Africa Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.5.3 Middle East & Africa Managed Security Services Market Breakdown by Key Countries
12.5.3.1 Saudi Arabia Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.5.3.2 UAE Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.5.3.3 South Africa Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.5.4 Middle East & Africa Managed Security Services Market Breakdown by Services Type
12.5.5 Middle East & Africa Managed Security Services Market Breakdown by Threat Management Type
12.5.6 Middle East & Africa Managed Security Services Market Breakdown by Deployment Type
12.5.7 Middle East & Africa Managed Security Services Market Breakdown by Enterprise Size
12.5.8 Middle East & Africa Managed Security Services Market Breakdown by Vertical
12.6 South America Managed Security Services Market Revenue and Forecasts to 2025
12.6.1 Overview
12.6.2 South America Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.6.3 South America Managed Security Services Market Breakdown by Key Countries
12.6.3.1 Brazil Managed Security Services Market Revenue and Forecasts to 2025 (US$ Mn)
12.6.4 South America Managed Security Services Market Breakdown by Services Type
12.6.5 South America Managed Security Services Market Breakdown by Threat Management Type
12.6.6 South America Managed Security Services Market Breakdown by Deployment Type
12.6.7 South America Managed Security Services Market Breakdown by Enterprise Size
12.6.8 South America Managed Security Services Market Breakdown by Vertical
13 Industry Landscape
13.1 Market Initative
13.2 Merger and Acquisition
13.3 New Development
14 Competitive Landscape
14.1 Competitive Product Mapping
14.2 Market Positioning
15 Global Managed Security Services Market - Key Company Profiles
15.1. AT&T Inc.
15.1.1. Key Facts
15.1.2. Business Description
15.1.3. Financial Overview
15.1.4. SWOT Analysis
15.1.5. Key Developments
15.2. IBM Corporation
15.2.1. Key Facts
15.2.2. Business Description
15.2.3. Financial Overview
15.2.4. SWOT Analysis
15.2.5. Key Developments
15.3. Dell SecureWorks Inc.
15.3.1. Key Facts
15.3.2. Business Description
15.3.3. Financial Overview
15.3.4. SWOT Analysis
15.3.5. Key Developments
15.4. Trustwave Holdings.
15.4.1. Key Facts
15.4.2. Business Description
15.4.3. Financial Overview
15.4.4. SWOT Analysis
15.4.5. Key Developments
15.5. Verizon Communications
15.5.1. Key Facts
15.5.2. Business Description
15.5.3. Financial Overview
15.5.4. SWOT Analysis
15.5.5. Key Developments
15.6. Symantec Corporation
15.6.1. Key Facts
15.6.2. Business Description
15.6.3. Financial Overview
15.6.4. SWOT Analysis
15.6.5. Key Developments
15.7. Hewlett Packard Enterprise Development LP
15.7.1. Key Facts
15.7.2. Business Description
15.7.3. Financial Overview
15.7.4. SWOT Analysis
15.7.5. Key Developments
15.8. NTT Security
15.8.1. Key Facts
15.8.2. Business Description
15.8.3. Financial Overview
15.8.4. SWOT Analysis
15.8.5. Key Developments
15.9. CenturyLink, Inc.
15.9.1. Key Facts
15.9.2. Business Description
15.9.3. Financial Overview
15.9.4. SWOT Analysis
15.9.5. Key Developments
15.10. BT Group plc.
15.10.1. Key Facts
15.10.2. Business Description
15.10.3. Financial Overview
15.10.4. SWOT Analysis
15.10.5. Key Developments
16 Appendix
16.1 About The Insight Partners
16.2 Glossary of Terms
16.3 Methodology
16.3.1 Coverage
16.3.2 Secondary Research
16.3.3 Primary Research
16.4 Contact Us
16.5 Disclaimer
The List of Companies
1. AT&T Inc.
2. IBM Corporation
3. Dell SecureWorks Inc.
4. Trustwave Holdings
5. Verizon Communications
6. Symantec Corporation
7. Hewlett Packard Enterprise Development LP
8. NTT Security
9. CenturyLink, Inc.
10. BT Group plc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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