BANGALORE, India | 28th November 2020: The Managed Security Services Market is Segmented by Type ( Network Security, Terminal Security, Application Security, Cloud Security), by Application ( Financial Services, Communications Industry, Public Sector, Media, Retail, Manufacturing, Medical, Other). This report is published on Valuates Reports in the Software & Services Category. It also covers Global & Regional Opportunity Analysis and Industry Forecast to 2025.

The global Managed Security Services market size is projected to reach USD 42,250 Million by 2026, from USD 21,680 Million in 2020, at a CAGR of 11.8% during 2021-2026.

Major factors driving the growth of managed security service market size, growing instances of security breaches and an increasing number of threats that pose a danger to large and small organizational structures are expected to be the key drivers of the industry.

The need to take the requisite steps in advance to ensure overall security posture and technical advances in cloud and IoT has improved potential cases of usage across vertical lines.

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TRENDS INFLUENCING THE MANAGED SECURITY SERVICE MARKET SIZE

Growing instances of security breaches and an increasing number of threats that pose a danger to large and small organizational structures are expected to be the key drivers for the growth of the managed security services market size. The role of information security is becoming more complex with the growth of business in terms of both scale and structure. The growing number of security threats and malicious activities by organized cyber-criminal groups has raised concerns among organizations. In addition, the increased complexity of network infrastructure is proving to be a significant obstacle to data protection management.

Managed Security Services provides industry-leading software, innovations and expertise to help protect the information assets around the clock, often at a fraction of the cost of in-house security resources. This cost-saving feature of MSS is expected to increase the growth of the managed security service market size.

Increased adoption by the BFSI sector is expected to fuel the managed security market size during the forecast period. Regulatory requirements for the safety of sensitive citizens’ data require all banks and financial institutions to maintain strict data security. In addition, these organizations are searching for an effective data protection mechanism to preserve their brand image.

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MANAGED SECURITY SERVICE MARKET SHARE ANALYSIS

Based on type, the terminal security segment is expected to hold the largest Managed Security Services market share. As companies expand their branches in remote areas, there are more and more endpoints from which a potential attack can occur. This allows companies to deploy terminal threat detection solutions to protect their endpoints from cyber threats.

Based on the region, North America is expected to hold the largest managed security service market share. This dominance of North America is attributed to the early adoption of new and emerging technologies and the presence of a large number of MSSPs in this region. Following strict information security regulations, the number of managed security service providers in North America is increasing.

Asia Pacific region is expected to witness the highest growth during the forecast period. This region’s rapid growth is due to the increased IT security spending in countries such as India and China. Another key factor leading to the development of the industry is the progress towards tighter cybersecurity regulations.

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MANAGED SECURITY SERVICES MARKET SEGMENTATION

Managed Security Services Breakdown Data by Type

  • Network Security
  • Terminal Security
  • Application Security
  • Cloud Security

Managed Security Services Breakdown Data by Application

  • Financial Services
  • Communications Industry
  • Public Sector
  • Media
  • Retail
  • Manufacturing
  • Medical
  • Other

Who are the Major Players in the Managed Security Services Market?

  • IBM (US)
  • SecureWorks (US)
  • Symantec (US)
  • Trustwave (US)
  • Verizon(US)
  • AT&T (US)
  • Atos (France)
  • BAE Systems (UK)
  • BT (UK)
  • CenturyLink (US)
  • DXC (US)
  • Fortinet (US)
  • Fujitsu (Japan)
  • NTT Security (Japan)
  • Wipro (India)

“We can also add the other companies as you want”

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SIMILAR REPORTS :

●  Security Services Market – Security Services Market Size, Share, Trends, Growth, Industry Analysis, Forecast 2020 to 2026. The Report contains segmentation by Type (Managed Security Services, Security Consulting Services, SaaS Security Services, Threat Intelligence Security Services), by Application (BFSI, Government and Defense, Telecom and IT, Healthcare, Energy and Utilities, Manufacturing, Retail, Other) and Regional Opportunity Analysis and Industry Forecast 2026.

●  Cyber Security Market – The Global Cyber Security Market size is expected to grow from USD 158,425.94 Million in 2019 to USD 267,420.59 Million by the end of 2025 at a CAGR of 9.11% during the forecast period. The Report contains segmentation by Security Type (Application Security and Cloud Security), by Services (Managed Services and Professional Services), by Solution (Distributed Denial of Service (DDoS), Risk and Compliance Management, and Unified Threat Management), by Deployment mode (Cloud and On-premise), by End user (Aerospace and Defense, Healthcare, IT and Telecom, Manufacturing, and Public Sector) and Region – Global Forecast to 2025

●  Managed Services Market – The global managed services market size is expected to grow from USD 178.5 Billion in 2019 to USD 309.4 Billion by 2025, at a CAGR of 9.6% during the forecast period. Major factors driving the growth of managed services market size are Increasing demand for outsourcing management functions, rising security concerns, lack of IT skilled professionals, and cost reduction and lower IT budgets. The report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by each application segment in terms of revenue for the period 2015-2026.

●  Managed Services Software Market – The Global Managed Services Software market size is expected to grow from USD 180.5 Billion in 2018 to USD 282.0 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period.

Top companies in the managed service software market include IBM, Huawei, Cisco, Unisys, DXC Technology, Tata Consultancy Services, Wipro, Atos, Ericsson, Accenture, Nokia Networks, Dimension Data, Fujitsu, HCL Technologies, etc.

●  SOC as a Service Market – In 2019, the global SOC as a Service market size was USD 265.9 Million, and it is expected to reach USD 676.8 Million by the end of 2026, with a CAGR of 14.2% during 2021-2026. The Report contains segmentation by Type (Prevention, Detection, Incident Response), by Application (BFSI, Healthcare, Education, Retail, IT and Telecom, Logistics and Transportation, Manufacturing, Others, etc and Regional Opportunity Analysis and Industry Forecast 2026

●  Authentication Services Market – The global Authentication Services market size is projected to reach USD 747.3 Million by 2026, from USD 633.6 Million in 2020, at a CAGR of 17.1%% during 2021-2026.

The Multi-Factor Authentication (MFA) segment is projected to hold the largest Authentication Services Market share in the forecast period. Owing to the growing number of cyber-attacks and identity theft, companies are introducing a two-factor authentication solution. The MFA provides an extra layer of security and makes it more difficult for cybercriminals to breach the IT infrastructure of an enterprise. In addition, the growth of the multi-factor authentication market will be driven by various regulations and compliances, such as PCI DSS and GDPR.

●  Managed Detection and Response Services Market – Major factors driving the growth of Managed Detection and Response Services Market size are, increasing adoption of web-based applications and integration of technologies such as the Internet of Things (IoT) across various business operations.

The Report contains segmentation by Type (Endpoint, Network, Application, Cloud), by Application (Banking, Financial Services, and Insurance, IT and Telecommunications, Government and Defense, Energy and Utilities, Manufacturing, Healthcare, Retail, Others) and Regional Opportunity Analysis and Industry Forecast 2026

●  Managed Security Services Providers (MSSPs) Market Size, Share, Trends, Growth, Industry Analysis, Forecast 2020 to 2026. The Report contains segmentation by Type (Virus and Spam Blocking, Intrusion Detection, Firewalls, Virtual Private Network (VPN) Management, Others), by Application (Small Businesses, Medium-Sized Businesses, Large Business) and Regional Opportunity Analysis and Industry Forecast 2026

●  Managed Security Services System Market Size, Share, Trends, Growth, Industry Analysis, Forecast 2020 to 2026. The Report contains segmentation by Type (Virus and Spam Blocking, Intrusion Detection, Firewalls, Virtual Private Network (VPN) Management, Others), by Application (Banking and Financial Services, Government Agency, Health Care, Telecommunications and Information Technology, Energy and Utilities, Other) and Regional Opportunity Analysis and Industry Forecast 2026

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