Managed Security Services Market: Observe Strong Development and Impact of Digital Transformation on the Industry by 2025

 Karishma Shikalgar
  13th-Aug-2019
 48

The Global Managed Security Services Market accounted for US$ 16,857.0 Mn in 2016 and is expected to grow at a CAGR of 16.9% during the forecast period 2017 – 2025, to account for US$ 61,855.5 Mn in 2025.

Managed Security Services market is witnessing high year-on-year growth due to various factors such as the increasing number of cyber-attacks and growing adoption of connected devices. Adoptions of managed security services are also expected to accelerate owing to, lack of skilled IT in-house professionals and increasing technical complexity. Moreover, continuous advancements in the managed security services offerings are expected to drive further the managed security services market resulting in overall growth of managed security services revenue share.

Cyber-attacks are on the rise in both enterprises and government sector around the globe. The Insight Partner’s analysis reported the number of security incidents across all industries rose by 40% in 2016 from 2015. Ever-increasing threats and evolving industry and government regulations are forcing organizations to invest heavily in security infrastructure. Organizations are becoming increasingly alert to cyber threats. Cyber security has become a major issue across industries; it will only grow more urgent as the online world becomes a central and underlying component of the physical world.

In the last few years, cyber-attacks have affected the ease of doing businesses across many industries including BFSI, healthcare, media & entertainment, and governments. As per the World Economic Forum, cyber-security has become a major challenge for both the private and public sectors. A recent study in UK, states that 90% of large businesses and around 74% of small businesses suffered from data breach over the past few year. The IT & Telecom, Retail, and BFSI accounts for nearly 50% market share of global managed security services market during the forecast period. The managed security services market BFSI segment is expected to witness 19.0% CAGR during the forecast period.

Global Managed Security Services – Market Segmentation

By Service Type

Threat Management

Vulnerability Management

Log Management

SIEM

Compliance Management

By Threat Management Type

Managed Firewall

Managed IDS/IPS

Managed Virtual Private Network (VPN)

Managed Anti-Virus and Malware

Managed Gateway Security

Managed Identity Access Management (IAM)

Managed Data Loss Prevention (DLP)

Others

By Deployment Type

Hosted MSS

CPE MSS

By Enterprise Size

Large Enterprises

SMEs

By Vertical

Retail

Manufacturing

BFSI

IT & Telecom

Healthcare

Government

Energy & Utility

Media

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Domain: Business
Category: Sales & Marketing
Posted By: Karishma Shikalgar and Contact Karishma Shikalgar

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