[181 Pages Report] The Managed Security Services Market size was estimated at USD 47.18 billion in 2023 and expected to reach USD 54.19 billion in 2024, at a CAGR 14.95% to reach USD 125.19 billion by 2030.
The Managed Security Services (MSS) market encompasses firms that outsource their information security needs to external providers. Managed security services, including round-the-clock monitoring and intrusion detection systems and firewalls, overseeing patch management and upgrades, performing security assessments and security audits, and responding to emergencies. The escalating number and complexity of cyber threats significantly drive the demand for specialized security services. Compliance requirements with regulatory standards and the need to protect sensitive data also contribute to market growth. Additionally, expanding IoT and BYOD policies in workplaces introduces new vulnerabilities, pushing companies toward MSS providers. However, the continual evolution of cyber threats creates a barrier for market growth, making it difficult for MSS providers to offer up-to-date protection. Additionally, there is a growing emphasis on data privacy regulations globally, placing a higher compliance burden on providers and creating challenges for market growth. Moreover, the managed Security Services market has numerous opportunities, particularly in offering specialized services for emerging threats associated with cloud computing, IoT, and mobile devices. The market space has also potential in leveraging AI and machine learning to enhance threat detection and response.
Intrusion detection systems monitor system activities for malicious activities or policy violations that require real-time monitoring and incident response mechanisms. Managed firewalls are critical for safeguarding an organization’s network perimeter by controlling inbound and outbound traffic based on an applied rule set. Managed firewalls are ideal for organizations of all sizes seeking to offload the complex tasks of policy management, software updates, and log monitoring. VPNs extend a private network across a public network, enabling users to send & receive data across public networks as their computing devices are directly connected to the private network. Vulnerability scanning services help identify security loopholes in the network or applications, whereas anti-viral services protect against malware and virus attacks.
On-cloud managed security services are delivered over the internet and hosted on cloud infrastructure. Businesses opt for on-cloud managed security services due to the minimal capital investment required, the ability to scale services based on demand, and the ease of updates and maintenance by the service provider. On-premises managed security services are deployed within the physical premises of the organization. Organizations with stringent regulatory and compliance requirements, such as those in the finance, government, and healthcare sectors, often prefer on-premises deployment.
In North America, particularly in the United States and Canada, there is a high demand for managed security services (MSS) due to the increasing number of cyber-attacks and stringent regulatory compliance requirements. Businesses, especially in finance, healthcare, and government sectors, prioritize investments in security measures. The U.S., being a hub for technological innovation, also sees a constant flow of patents related to cybersecurity, indicating a robust environment for MSS development and adoption. The EMEA region presents a diverse landscape for MSS. In the EU, the General Data Protection Regulation (GDPR) has been a significant driver for adopting security services, with businesses striving to avoid hefty fines by ensuring compliance. The Middle East, with its strategic emphasis on becoming a digital economy, is investing heavily in cybersecurity infrastructures, including MSS. Africa, though in the nascent stages of MSS adoption, shows promise due to the growing internet penetration and increasing awareness of cyber risks. The Asia Pacific region is experiencing rapid digital transformation, making it a hotbed for cybersecurity threats and opportunities for MSS providers. China's substantial investments in cybersecurity research and the government's push for a more secure digital environment illustrate the country's proactive stance. Japan, known for its technological prowess, and India, with its burgeoning IT sector, are also witnessing a growing awareness and adoption of managed security services.
The FPNV Positioning Matrix is pivotal in evaluating the Managed Security Services Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Managed Security Services Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Atturra and MyCISO Launch Managed Security Program Service
Atturra has embarked on a strategic alliance with Sydney-based startup MyCISO, integrating the latter's SaaS platform into its managed security services for the education and commercial sectors. The deployment of MyCISO's Assess module by Atturra heralds a new era in security program management, facilitating the adoption of appropriate frameworks, conducting data-driven risk assessments, and crafting tailored cyber uplift strategies that can be operationally implemented and continuously monitored. [Published On: 2024-01-29]
Radware Launches Enhanced Program for Managed Security Service Providers
Radware has launched its Cybersecurity Partner Program specifically for Managed Security Service Providers (MSSPs). This enhancement equips MSSPs with an advanced arsenal to augment their service offerings, addressing the rising wave of cyber threats and the prevalent scarcity of skilled cybersecurity professionals. With the introduction of more flexible licensing models, comprehensive technical training, and an increased array of marketing and sales tools, the program aims to drive revenue growth for its partners. [Published On: 2023-10-24]
Schneider Electric Launches Managed Security Services for Operational Environments
In response to the escalating cyber threats within operational technology (OT) environments, Schneider Electric has launched a comprehensive Managed Security Services (MSS) solution. By leveraging the robust capabilities of Schneider Electric's Cybersecurity Connected Service Hub (CCSH), the MSS offering delivers scalable technologies designed to actively monitor and counteract cyber threats, thereby safeguarding operations. [Published On: 2023-08-01]
The report delves into recent significant developments in the Managed Security Services Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Alert Logic, Inc., Atos SE, Broadcom Inc., CenturyLink, Inc., Cipher, DXC Technology Company, Fortinet, Inc., Happiest Minds Technologies Pvt. Ltd., International Business Machines Corporation, Kyndryl Inc., NTT Ltd., Optiv Security Inc., Unisys Corporation, and Wipro Limited.
This research report categorizes the Managed Security Services Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Product
- Intrusion Detection
- Managed Firewall
- Virtual Private Network
- Vulnerability Scanning & Anti-viral Services
- Type
- Managed Application Security
- Managed Cloud Security
- Managed Endpoint Security
- Managed Network Security
- Deployment
- On-Cloud
- On-Premises
- Industry
- Aerospace & Defense
- Automotive & Transportation
- Banking, Financial Services & Insurance
- Building, Construction & Real Estate
- Consumer Goods & Retail
- Education
- Energy & Utilities
- Government & Public Sector
- Healthcare & Life Sciences
- Information Technology
- Manufacturing
- Media & Entertainment
- Telecommunication
- Travel & Hospitality
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
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- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Managed Security Services Market?
- What are the technology trends and regulatory frameworks in the Managed Security Services Market?
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- Which modes and strategic moves are suitable for entering the Managed Security Services Market?
- Preface
- Research Methodology
- Executive Summary
- Market Overview
- Market Insights
- Managed Security Services Market, by Product
- Managed Security Services Market, by Type
- Managed Security Services Market, by Deployment
- Managed Security Services Market, by Industry
- Americas Managed Security Services Market
- Asia-Pacific Managed Security Services Market
- Europe, Middle East & Africa Managed Security Services Market
- Competitive Landscape
- Competitive Portfolio
- List of Figures [Total: 24]
- List of Tables [Total: 400]
- List of Companies Mentioned [Total: 15]
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