Canada Managed Security Services Market Research Report By Service Type (Managed Firewall, Intrusion Detection System, Unified Threat Management, Security Information and Event Management, Endpoint Security), By Deployment Model (On-Premises, Cloud-Based, Hybrid), By Organization Size (Small Enterprises, Medium Enterprises, Large Enterprises) and By End Use Industry (BFSI, Healthcare, ITTelecom, Retail, Government)-Forecast to 2035

Canada Managed Security Services Market Overview

As per MRFR analysis, the Canada Managed Security Services Market Size was estimated at 1.59 (USD Billion) in 2023.The Canada Managed Security Services Market Industry is expected to grow from 1.8(USD Billion) in 2024 to 4.5 (USD Billion) by 2035. The Canada Managed Security Services Market CAGR (growth rate) is expected to be around 8.687% during the forecast period (2025 - 2035).

Key Canada Managed Security Services Market Trends Highlighted

The Canada Managed Security Services Market is undergoing substantial trends that are influenced by a variety of factors. The escalating frequency of cyberattacks against Canadian enterprises is a significant factor. Organisations are increasingly susceptible to threats as a result of the pandemic's acceleration of digital transformation and the proliferation of remote work, which necessitates the implementation of more stringent security protocols.

This urgency is compelling businesses to implement managed security services, which offer incident response capabilities and 24/7 monitoring, thereby enhancing their overall cybersecurity posture. Opportunities in this market are also increasing as Canadian companies prioritise compliance with a variety of regulations, including the Personal Information Protection and Electronic Documents Act (PIPEDA) and other provincial privacy laws.

By providing customised solutions that not only satisfy security requirements but also facilitate compliance, managed security service providers (MSSPs) can capitalise on this demand. This opportunity is further exacerbated by the persistent scarcity of competent cybersecurity professionals in Canada, as organisations encounter difficulties in preserving in-house expertise.

There is an increasing interest in the integration of artificial intelligence (AI) and machine learning (ML) into managed security services, as evidenced by recent trends. These technologies improve the effectiveness of security measures by improving the detection of threats and the response time. Furthermore, there is a significant trend towards cloud-based security solutions, which is being driven by the growing popularity of cloud services and the necessity for scalable and adaptable security solutions.

Additionally, the Canadian government's dedication to enhancing national cybersecurity through a variety of initiatives is cultivating a supportive environment for the managed security services market. This emphasis on cybersecurity at the national level underscores the growing significance of cybersecurity for businesses throughout the nation, positioning managed security service providers as essential partners in the protection of digital assets. The future of security in Canada is likely to be reshaped as the landscape evolves, which is due to the alignment of managed services with these market drivers and trends.

Canada Managed Security Services Market Drivers

Rising Cybersecurity Threats

In Canada, the frequency of cyberattacks has shown a dramatic increase, particularly with the Canadian government's Cyber Security Strategy which noted a rise of 30% in reported incidents from 2019 to 2021. This alarming trend highlights the critical need for enhanced cybersecurity measures among organizations. Major players like Bell Canada and TELUS Corporation have established robust managed security services to counter these threats, providing essential solutions to enterprises.

With the number of small and medium-sized enterprises needing to comply with stringent regulations, the demand for managed security services is only expected to grow, as businesses seek to safeguard their data and assets effectively. The necessity of a proactive approach towards cybersecurity will drive the growth of the Canada Managed Security Services Market Industry significantly in the coming years.

Increasing Regulatory Compliance Requirements

The Canadian data protection regulations are becoming stricter, compelling organizations to adopt more secure and compliant systems. The Personal Information Protection and Electronic Documents Act mandates comprehensive data management practices. In response to these regulations, many companies are turning to managed security services to ensure compliance and mitigate risks.

Organizations such as the Ontario Ministry of Government and Consumer Services have underscored the importance of cybersecurity compliance, resulting in a noticeable market shift.This need for compliance is expected to drive significant growth in the Canada Managed Security Services Market Industry, as businesses strive to meet evolving legal requirements.

Growth of Cloud-Based Solutions

The adoption of cloud computing in Canada is witnessing rapid growth, with a reported increase in cloud service adoption to 78% among Canadian businesses by 2022, according to the Information and Communications Technology Council. This trend necessitates the implementation of robust security measures to protect sensitive data stored in the cloud.

Major cloud service providers like Amazon Web Services and Microsoft Azure are partnering with local managed security service providers, boosting the need for specialized security solutions.As the trend of migrating to cloud platforms continues, the Canada Managed Security Services Market is poised for substantial expansion, driven by the need for enhanced security measures across cloud infrastructures.

Need for Cost-Effective Security Solutions

Organizations are increasingly seeking cost-effective solutions to manage their cybersecurity, with forecasts suggesting that companies that outsource cybersecurity services can save up to 40% on their overall security expenditures. Given this financial incentive, businesses across various sectors are shifting towards managed security services.

This trend has been supported by insights from the Canadian Cybersecurity Workforce 2022 report, which indicates that nearly 66% of companies find it more economical to outsource security than to maintain an in-house team.The rising cost-efficiency of managed security services strengthens its position in the Canada Managed Security Services Market Industry, as organizations strive for operational efficiency while ensuring enhanced protection.

Canada Managed Security Services Market Segment Insights

Managed Security Services Market Service Type Insights

The Canada Managed Security Services Market is undergoing considerable shifts as the demand for advanced cybersecurity solutions continues to rise. The segmentation of this market by Service Type reflects a robust landscape responding to the increasing complexity of security threats faced by organizations. Managed Firewall services play a crucial role in safeguarding networks against unauthorized access, making them an essential component of any security strategy. Similarly, Intrusion Detection Systems are critical as they monitor network traffic for potential security breaches, giving organizations real-time insights into vulnerabilities.

Unified Threat Management solutions have emerged as significant offerings, consolidating multiple security features into a single platform, which enhances efficiency and streamlines threat management processes. Security Information and Event Management systems are increasingly important for enterprises aiming to comply with regulations and manage security incidents effectively, as they provide comprehensive data analysis and alerting capabilities. Lastly, Endpoint Security has gained considerable traction, considering that endpoints represent a primary attack vector in today's mobile and remote work environments.

As enterprises in Canada face evolving threats, the demand for these Service Types is expected to grow, with organizations recognizing the necessity of proactive security measures. Growing cybersecurity awareness and the rising incidence of data breaches contribute to increasing investments in these services across various industries in Canada, making it imperative for businesses to choose the right Service Type that aligns with their security needs and compliance requirements. The market is poised for transformation as technology evolves, with service providers needing to adapt to new trends and cybersecurity challenges that are likely to dominate the coming years.

Managed Security Services Market Deployment Model Insights

The Canada Managed Security Services Market is showing significant growth, driven by various deployment models essential for addressing diverse security needs. The deployment model segment comprises various approaches, including On-Premises, Cloud-Based, and Hybrid solutions. On-Premises models remain crucial for organizations that prefer complete control over their security infrastructure, ensuring compliance with local regulations and industry standards.

Cloud-Based solutions are becoming increasingly popular, particularly due to their flexibility, scalability, and cost-effectiveness, appealing to businesses looking to implement robust security measures without heavy upfront investments.Hybrid models effectively combine both On-Premises and Cloud-Based services, allowing organizations to take advantage of the benefits of both approaches while tailoring their security strategies to specific operational requirements.

As cybersecurity threats evolve, the demand for advanced Managed Security Services in Canada will continue to rise, prompting organizations to explore the most effective deployment models that align with their operational needs and risk management strategies. The Canada Managed Security Services Market segmentation highlights the importance of these deployment models in ensuring comprehensive security solutions that address varying needs across industries, reflecting the broader trend towards digital transformation and heightened awareness of cyber threats in the country.

Managed Security Services Market Organization Size Insights

The Canada Managed Security Services Market is primarily segmented based on Organization Size, which includes Small Enterprises, Medium Enterprises, and Large Enterprises. Each of these segments plays a pivotal role in the overall market dynamics. Small Enterprises are increasingly recognizing the importance of managed security services, driven by the growing number of cyber threats and the rising digitalization of their operations.

These businesses seek cost-effective and scalable solutions to protect their sensitive data. Medium Enterprises often exhibit a blend of the agility of small businesses and the resource leverage of larger companies, allowing them to implement comprehensive security measures while managing costs effectively.Meanwhile, Large Enterprises dominate the market due to their extensive data infrastructures and higher security demands, leading them to invest significantly in managed security services.

Collectively, these segments highlight the diverse needs for security services across different organization sizes, showcasing how businesses of varying scales prioritize protection and compliance in an increasingly complex threat landscape. The segmentation also showcases opportunities for market players to tailor their services according to the unique challenges faced by each category.

Managed Security Services Market End Use Industry Insights

The Canada Managed Security Services Market is significantly shaped by its various End Use Industries, where each sector leverages these services to enhance security posture. The BFSI (Banking, Financial Services and Insurance) sector is particularly critical as it handles sensitive financial data, making it a prime target for cyber threats. Meanwhile, the Healthcare industry is increasingly adopting managed security services due to the rise in cyberattacks targeting patient records and health data.

The IT and Telecom sector, characterized by rapid technological advancements, demands robust security measures to safeguard networks and customer data.Retail organizations are also focusing on managed security services to protect against data breaches that can compromise customer privacy. Furthermore, the Government sector is actively investing in these services to ensure national security and protect sensitive information from cyber threats.

By addressing sector-specific vulnerabilities, Managed Security Services are becoming integral in safeguarding essential data and maintaining operational integrity across various industries in Canada. This market is witnessing a strong shift towards proactive security measures, reflecting an increasing awareness of potential risks and compliance requirements.

Canada Managed Security Services Market Key Players and Competitive Insights

The Canada Managed Security Services Market has seen significant evolution and growth, driven by the increasing demand for advanced cybersecurity solutions amid rising threats and regulatory compliance requirements. Competitive insights into this market reveal a landscape characterized by various players offering differentiated services tailored to meet the unique needs of Canadian enterprises.

As organizations grapple with complexities related to IT security, the managed security service providers in Canada are focused on delivering comprehensive solutions that not only protect networks and data but also ensure regulatory compliance and improve operational efficiency.

The interplay of innovation, continuous investment in technology, and extensive service offerings play crucial role in shaping the competitive dynamics within this market.Verizon has established a strong presence in the Canada Managed Security Services Market, well-regarded for its robust range of cybersecurity offerings that cater to a diverse clientele.

The company's strengths lie in its global scale, extensive cybersecurity expertise, and a portfolio that encompasses managed threat detection, incident response, and security monitoring services. Verizon benefits from its well-established infrastructure and advanced threat intelligence capabilities, allowing it to swiftly address security threats and vulnerabilities faced by Canadian organizations.

The company’s commitment to innovation further propels its reputation, as it continually invests in advanced technologies such as artificial intelligence and machine learning to enhance its service delivery in the Canadian market.Trustwave has solidified its position in the Canada Managed Security Services Market by offering a comprehensive suite of security solutions aimed at businesses of varying sizes. The company is recognized for its managed security services, compliance solutions, and advanced threat detection, which are particularly beneficial in the context of Canada's evolving regulatory landscape.

Trustwave's strengths include its focus on tailoring services to meet local requirements, coupled with a strong emphasis on customer service and support. The company's strategic partnerships and potential mergers and acquisitions bolster its service capabilities and market reach in Canada, enabling it to provide cutting-edge solutions. Trustwave is committed to helping Canadian businesses navigate the complexities of cybersecurity, ensuring they remain compliant and secure amidst an ever-changing threat landscape.

Key Companies in the Canada Managed Security Services Market Include

• Verizon
• Trustwave
• Hewlett Packard Enterprise
• Secureworks
• Accenture
• Fortinet
• Cisco Systems
• Barracuda Networks
• AT&T
• McAfee
• Optiv Security
• IBM
• Check Point Software Technologies

Canada Managed Security Services Market Industry Developments

In October 2023, Fortinet made its Security Awareness & Training program available to Canada's approximately 300 public and approximately 1,700 private school boards at no cost. The program is delivered in both English and French and is designed to provide educators with information on a variety of topics, including mobile security, social engineering, and phishing.

Accenture enhanced its cloud and cybersecurity capabilities in Canada from 2023 to 2024 by acquiring cybersecurity firm Morphus, which provided local cloud-focused MSS expertise.

TIVIT and other providers, such as Fortinet, Cisco, IBM, and Check Point, are acknowledged participants in Canada's MSS ecosystem. They collaborate with local integrators to provide AI-driven threat detection, SOC-as-a-service, and compliance support. In May 2025, they established a new Cybersecurity Operations Centre (SOC) in São Paulo (global relevance).

Canada Managed Security Services Market Segmentation Insights

Managed Security Services Market Service Type Outlook

• Managed Firewall
• Intrusion Detection System
• Unified Threat Management
• Security Information and Event Management
• Endpoint Security

Managed Security Services Market Deployment Model Outlook

• On-Premises
• Cloud-Based
• Hybrid

Managed Security Services Market Organization Size Outlook

• Small Enterprises
• Medium Enterprises
• Large Enterprises

Managed Security Services Market End Use Industry Outlook

• BFSI
• Healthcare
• ITTelecom
• Retail
• Government

 

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	1.59(USD Billion)
MARKET SIZE 2024	1.8(USD Billion)
MARKET SIZE 2035	4.5(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	8.687% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	Verizon, Trustwave, Hewlett Packard Enterprise, Secureworks, Accenture, Fortinet, RBC Security, Finastra, Cisco Systems, Barracuda Networks, AT&T, McAfee, Optiv Security, IBM, Check Point Software Technologies
SEGMENTS COVERED	Service Type, Deployment Model, Organization Size, End Use Industry
KEY MARKET OPPORTUNITIES	Cloud security solutions, Compliance-driven services, IoT security management, Vulnerability assessment offerings, Incident response solutions
KEY MARKET DYNAMICS	growing cyber threats, increasing regulatory demands, rise of remote work, demand for cost-effective solutions, emphasis on compliance and risk management
COUNTRIES COVERED	Canada