Managed Security Services Market Research Report- Global Forecast 2027

Managed security services Market, By Service Type (IPS and IDS, DDOS, Endpoint security), By Organization size (SMBs, Large Enterprise), By Deployment (Cloud, On Premise), By End-User (BFSI, Manufacturing, IT/ITES, Healthcare, Retail, Government) - Forecast 2027

ID: MRFR/ICT/1885-HCR | February 2021 | Region: Global | 100 pages

Please note that the assessment period of report has been updated from 2016-2022 to 2020-2027. Cordially fill the sample form for updated data.

Managed Security Services Market Overview:
Managed Security Services Market deals in outsourcing network services to various organizations by the means of service providers. Managed Security Services are listed as monitoring services used by vendors to secure the organization’s trust and data against virus attacks, DDOS attacks, and unknown attacks by creating protective intrusion detection firewalls in the systems. With an increasing number of hackers and attackers, there is an increased threat to various organizations whose credibility is at risk which has led to the importance of Managed Security Services Industry in rural and urban areas.



The risk of big data and other applications using web services at a potential risk Managed Security Services Market is on the rise. More than 74% of in-house security by IT-Security team in organizations have gained popularity and about 84% of the IT-organizations industry have taken help from outsourced services of Managed Security organizations. Global Managed Security Services Market has been growing exponentially and estimated to generate a revenue of more than 34 Billion US dollars in upcoming years. The Global Managed Security Services Market is estimated to register a CAGR of more than 12% by the forecast year 2022. 



COVID-19 Analysis:

The virus generated from a flea market in Wuhan, China took the world on a sabbatical imposing threat to human life. The world has been in a partial state of lockdown since then. With limited resources and necessities, the world learned to survive on the basics. Cooperates, premium business, IT, and other industries started functioning from home. Thus, high security needed to be more on part of the business to functions against the daily increasing cyber-attacks. The threats against the breached security because of less availability of in-house security led many industries to partner with Managed Security Services providers to maintain work ethics and deep and broad monitoring of office devices. Firewalls, two-factor authentications, and many more security methods were introduced to preserve customer information.



Market Dynamics:
Drivers:
Managed Security Services Market is booming in recent years due to the services providing to industries that deal with simple and complex data. Deep security protection, broad area coverage, monitoring services, and cost-effectiveness are the major drivers of the managed security market. With data around the world being vulnerable to cyber-attacks have led companies to either build in-house security systems or partnering with organizations that provide security services. With the increasing demand for web applications, social-media, human interactive websites, etc. the need to secure these applications has increased thus, fueling the need for Managed Security Services Market.



Challenges:

Maintaining the client-organization partnership is essential for service providers. This leads to a trust build-up between the two, where the client must fully trust the organization and share lethal information with the service providers, and the service providers need to develop a business culture for industries to submit to managed service market. Few non-compliance activities on the customer system also led to the security breach and a threat to the organization as a whole.



Technology Analysis:

In traditional times Managed Security Services Market is subjected to providing internet services to companies that came with firewalls from organizations at customer premises. A dial-up connection was set up to have a secure connection. With advancements in technology, there was a need to set up security to shadow the demands of the customer and provide services as per organizational needs. With data around the world being vulnerable to cyber-attacks have led companies to either build in-house security systems or partnering with organizations that provide security services. Firewalls, two-factor authentications, and many more security methods were introduced to preserve customer information. A round-clock monitoring service was deployed to organizations. Annual security training, HIPPA training, security audits, detection systems, security assessments, etc. have helped the organizations maintain a balance with client’s demands and data.



Managed Security Services Market Segment Overview:

By type:
As per Industrial Market Analysis Managed Security Services Market is segmented by type as Firewall management, Internet security, Unified threat management, Endpoint security, SIEM, DDOS, IPS, and IDS. These services are deployed to customer’s machines. Customers can opt for on-premise deployment, cloud deployment, or a hybrid deployment. Larger enterprises generally chose hybrid service deployment i.e. providing a secure network on systems as well as cloud-based security often made using VPNs, soft tokens, hard tokens, etc.



By Vertical:

Managed Security Services Market is segmented by vertical as the end-users who used the security services which include IT offices, corporates, healthcare centers, retail, BFSI, the government, manufacturing department, ITES, aerospace, defense, and other industries.



Managed Security Services Market Regional Analysis:

Managed Security Services Market is spread majored in 4 zones, i.e. North America, Asia-Pacific, Europe, the other countries. The American countries like the US, Canada, etc. are the world's dominant leaders of the Managed Security Service industry. The increasing demand for security to fight against the internet security breach, new rules of each industry, and the government's regulations have led to the adoption of on-premise and cloud security managed services. The European countries like Germany, France, Italy, etc. have held the second largest market share of the Managed Security Services Market making amends to rising monitoring services required by industries. Asia-Pacific countries like China, Japan, India, Australia, etc. have emerged as market leaders in Asian countries seeing to the need for security for industries around the world.



Competitive Landscape:

The competitive landscape of Managed Security Services Market compromises gross analysis of the market strategy, market share, analysis, key development strategies, and the factors influencing the growth of security services. Managed Security Services Market has attracted a wide range of audiences including Research and development areas, consultancy firms, Industrial users, technology investors, technology investors, enterprise users, system integrators, government organizations, defense systems, and security agencies. With Managed Security Services Market wide-spread to IT offices, corporates, healthcare centers, retail, BFSI, the government, manufacturing department, ITES, aerospace, defense, and other industries many government and private firms have invested in the security service providing companies. The key players in the area of Managed Security Services Market are IBM (US), Fortinet (US), Rapid 7 (US), BT Group (UK), Dell SecureWorks, Accenture, Solutionary Inc. (US), Verizon Communications (US), CenturyLink (US), Symantec Corporation (US), Wipro, HP Enterprises (US), CSC (US), Deloitte, AT&T (US), Trustwave (US), etc.



Recent Developments:

The increasing demand for security to fight against an internet security breach, new rules of each industry, and the government's regulations have led to the adoption of on-premise and cloud security managed services. As per the Managed Security Services Insider Report IDPS is used to detect the threat against any organization, leading it to be the market leader of the Managed Security Services provider. In January 2019, - Verizon Communications partnered with a Colorado-based company called ProtectWise that delivers cloud-based security of threat detection and inline response. In January 2019, a managed security services provider agency called Security and Intelligence Services (SIS) from New Delhi partnered with a Singapore company acquiring a 60% share in the company of approximately INR 350 crore. The same company partnered with the Uniq Security and Detective Services company by acquiring 51% of their shares in the December of 2018. All these partnerships made SIS a market leader of Managed Security Services by claiming 75% of revenue in the industry.



Report Overview:

The Managed Security Services Market shares detailed analysis of the market strategy, market share, analysis, key development strategies, and the factors influencing the growth of security services. It shares detailed insight on the segmentation by type and vertical. It also states how a customer can opt for on-premise deployment, cloud deployment, or the hybrid deployment of security services. The report forecasts a strategic analysis and a study on a competitive landscape on the market's key players and their core competencies. The report penlights the world analysis of how the Managed Security Services Market is spread majored in 4 zones, i.e. North America, Asia-Pacific, Europe, the other countries making strategic alliances, joint ventures, new product developments, research and developments, and mergers and acquisitions inflating the market growth.



Report Scope:
Report Attribute/Metric Details
  Market Size   UDS 34 Billion (2022)
  CAGR   2% (2022)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Service Type, By Organization size, By Deployment
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors    IBM (US), Fortinet (US), Rapid 7 (US), BT Group (UK), Dell SecureWorks, Accenture, Solutionary Inc. (US), Verizon Communications (US), CenturyLink (US), Symantec Corporation (US), Wipro, HP Enterprises (US), CSC (US), Deloitte, AT&T (US), Trustwave (US), etc.
  Key Market Opportunities   The Managed Security Services Market shares detailed analysis of the market strategy, market share, analysis, key development strategies, and the factors influencing the growth of security services.
  Key Market Drivers

  • Managed Security Services Market is booming in recent years due to the services providing to industries that deal with simple and complex data. \r\n
  • Deep security protection, broad area coverage, monitoring services, and cost-effectiveness are the major drivers of the managed security market.


  • Frequently Asked Questions (FAQ) :


    The segments of cloud, on-premise and hybrid are expected to be seen in the market.

    The countries of China and India are expected to feature majorly in the market.

    The demand for advanced threat protection is expected to motivate the market in the coming period.

    The Asia Pacific region is foreseen to improve at an accelerated rate in the coming period.

    Solutionary Inc. (U.S.), Fortinet (U.S.), Dell SecureWorks (U.S.), Trustwave (U.S.), CSC (U.S.), Rapid 7 (U.S.) and BT Group (UK) are the contenders in the market.

    The Global Managed Security Services Market is estimated to register a CAGR of more than 12% by the forecast year 2022.

    Industrial Market Analysis Managed Security Services Market is segmented by type as Firewall management, Internet security, Unified threat management, Endpoint security, SIEM, DDOS, IPS, and IDS.

    With advancements in technology, there was a need to set up security to shadow the demands of the customer and provide services as per organizational needs.

    Deep security protection, broad area coverage, monitoring services, and cost-effectiveness.

    1 MARKET INTRODUCTION

    1.1 INTRODUCTION

    1.2 SCOPE OF STUDY

    1.2.1 RESEARCH OBJECTIVE

    1.2.2 ASSUMPTIONS

    1.2.3 LIMITATIONS

    1.3 MARKET STRUCTURE

    2 RESEARCH METHODOLOGY

    2.1 RESEARCH NETWORK SOLUTION

    2.2 PRIMARY RESEARCH

    2.3 SECONDARY RESEARCH

    2.4 FORECAST MODEL

    2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST

    2.4.2 MARKET SIZE ESTIMATION

    3 MARKET DYNAMICS

    3.1 INTRODUCTION

    3.2 MARKET DRIVERS

    3.3 MARKET CHALLENGES

    3.4 MARKET OPPORTUNITIES

    3.5 MARKET RESTRAINTS

    4 EXECUTIVE SUMMARY

    5. MARKET FACTOR ANALYSIS

    5.1 PORTER’S FIVE FORCES ANALYSIS

    5.2 SUPPLY CHAIN ANALYSIS

    6 MANAGED SECURITY SERVICES MARKET, BY SEGMENTS

    6.1 INTRODUCTION

    6.2 MARKET STATISTICS

    6.2.1 BY SERVICE TYPE

    6.2.1.1 IPS AND IDS

    6.2.1.2 DDOS

    6.2.1.2 ENDPOINT SECURITY

    6.2.1.2 UNIFIED THREAT MANAGEMENT

    6.2.1.2 FIREWALL MANAGEMENT

    6.2.1.2 OTHERS

    6.2.2 BY ORGANIZATION SIZE

    6.2.2.1 SMBs

    6.2.2.2 LARGE ENTERPRISE

    6.2.3 BY DEPLOYMENT

    6.2.3.1 CLOUD

    6.2.3.2 ON-PREMISE

    6.2.3.3 HYBRID






    BY END-USER


    MANUFACTURING

    BFSI

    HEALTHCARE

    IT/ITES

    GOVERNMENT

    RETAIL

    OTHERS








    6.2.5 BY GEOGRAPHY

    6.2.5.1 NORTH AMERICA

    6.2.5.2 EUROPE

    6.2.5.3 ASIA-PACIFIC

    6.2.5.4 REST OF THE WORLD

    7 COMPETITIVE ANALYSIS

    7.1 MARKET SHARE ANALYSIS

    7.2 COMPANY PROFILES

    7.2.1 IBM (U.S.)

    7.2.2 VERIZON COMMUNICATIONS (U.S.)

    7.2.3 CENTURYLINK (U.S.)

    7.2.4 AT&T (U.S.)

    7.2.5 SYMANTEC CORPORATION (U.S.)

    7.2.6 HP ENTERPRISES (U.S.)

    7.2.7 FORTINET (U.S.)

    7.2.8 SOLUTIONARY INC. (U.S.)

    7.2.9 DELL SECUREWORKS (U.S.)

    7.2.10 BT GROUP (UK)

    7.2.11 OTHERS


    LIST OF TABLES

    TABLE 1 MANAGED SECURITY SERVICES MARKET, BY SERVICE TYPETABLE 2 MANAGED SECURITY SERVICES MARKET, BY ORGANIZATION SIZETABLE 3 MANAGED SECURITY SERVICES MARKET, BY DEPLOYMENTTABLE 4 MANAGED SECURITY SERVICES MARKET, BY END-USERTABLE 5 MANAGED SECURITY SERVICES MARKET, BY REGIONSTABLE 6 NORTH AMERICA MANAGED SECURITY SERVICES MARKET, BY SERVICE TYPETABLE 7 NORTH AMERICA MANAGED SECURITY SERVICES MARKET, BY ORGANIZATION SIZETABLE 8 NORTH AMERICA MANAGED SECURITY SERVICES MARKET, BY DEPLOYMENTTABLE 9 NORTH AMERICA MANAGED SECURITY SERVICES MARKET, BY END-USERTABLE 10 U.S. MANAGED SECURITY SERVICES MARKET, BY SERVICE TYPETABLE 11 U.S. MANAGED SECURITY SERVICES MARKET, BY ORGANIZATION SIZETABLE 12 U.S. MANAGED SECURITY SERVICES MARKET, BY DEPLOYMENTTABLE 13 U.S. MANAGED SECURITY SERVICES MARKET, BY END-USERTABLE 14 CANADA MANAGED SECURITY SERVICES MARKET, BY SERVICE TYPETABLE 15 CANADA MANAGED SECURITY SERVICES MARKET, BY ORGANIZATION SIZETABLE 16 CANADA MANAGED SECURITY SERVICES MARKET, BY DEPLOYMENTTABLE 17 CANADA MANAGED SECURITY SERVICES MARKET, BY END-USERTABLE 18 EUROPE MANAGED SECURITY SERVICES MARKET, BY SERVICE TYPETABLE 19 EUROPE MANAGED SECURITY SERVICES MARKET, BY ORGANIZATION SIZETABLE 20 EUROPE MANAGED SECURITY SERVICES MARKET, BY DEPLOYMENTTABLE 21 EUROPE MANAGED SECURITY SERVICES MARKET, BY END-USERTABLE 22 GERMANY MANAGED SECURITY SERVICES MARKET, BY SERVICE TYPETABLE 23 GERMANY MANAGED SECURITY SERVICES MARKET, BY ORGANIZATION SIZETABLE 24 GERMANY MANAGED SECURITY SERVICES MARKET, BY DEPLOYMENTTABLE 25 GERMANY MANAGED SECURITY SERVICES MARKET, BY END-USERTABLE 26 FRANCE MANAGED SECURITY SERVICES MARKET, BY SERVICE TYPETABLE 27 FRANCE MANAGED SECURITY SERVICES MARKET, BY ORGANIZATION SIZETABLE 28 FRANCE MANAGED SECURITY SERVICES MARKET, BY DEPLOYMENTTABLE 29 FRANCE MANAGED SECURITY SERVICES MARKET, BY END-USERTABLE 30 U.K. MANAGED SECURITY SERVICES MARKET, BY SERVICE TYPETABLE 31 U.K. MANAGED SECURITY SERVICES MARKET, BY ORGANIZATION SIZETABLE 32 U.K. MANAGED SECURITY SERVICES MARKET, BY DEPLOYMENTTABLE 33 U.K. MANAGED SECURITY SERVICES MARKET, BY END-USERTABLE 34 REST OF EUROPE MANAGED SECURITY SERVICES MARKET, BY SERVICE TYPETABLE 35 REST OF EUROPE MANAGED SECURITY SERVICES MARKET, BY ORGANIZATION SIZETABLE 36 REST OF EUROPE MANAGED SECURITY SERVICES MARKET, BY DEPLOYMENTTABLE 37 REST OF EUROPE MANAGED SECURITY SERVICES MARKET, BY END-USERTABLE 38 ASIA-PACIFIC MANAGED SECURITY SERVICES MARKET, BY SERVICE TYPETABLE 39 ASIA-PACIFIC MANAGED SECURITY SERVICES MARKET, BY ORGANIZATION SIZETABLE 40 ASIA-PACIFIC MANAGED SECURITY SERVICES MARKET, BY DEPLOYMENTTABLE 41 ASIA-PACIFIC MANAGED SECURITY SERVICES MARKET, BY END-USERTABLE 42 MIDDLE EAST & AFRICA MANAGED SECURITY SERVICES MARKET, BY SERVICE TYPETABLE 43 MIDDLE EAST & AFRICA MANAGED SECURITY SERVICES MARKET, BY ORGANIZATION SIZETABLE 44 MIDDLE EAST & AFRICA MANAGED SECURITY SERVICES MARKET, BY DEPLOYMENTTABLE 45 MIDDLE EAST & AFRICA MANAGED SECURITY SERVICES MARKET, BY END-USER

    LIST OF FIGURES

    FIGURE 1 RESEARCH NETWORK SOLUTIONFIGURE 2 MANAGED SECURITY SERVICES MARKET: BY SERVICE TYPE (%)FIGURE 3 MANAGED SECURITY SERVICES MARKET: BY ORGANIZATION SIZE (%)FIGURE 4 MANAGED SECURITY SERVICES MARKET: BY DEPLOYMENT (%)FIGURE 5 MANAGED SECURITY SERVICES MARKET: BY END-USER (%)FIGURE 6 MANAGED SECURITY SERVICES MARKET: BY REGIONFIGURE 7 NORTH AMERICA MANAGED SECURITY SERVICES MARKET, BY SERVICE TYPE (%)FIGURE 8 NORTH AMERICA MANAGED SECURITY SERVICES MARKET, BY ORGANIZATION SIZE (%)FIGURE 9 NORTH AMERICA MANAGED SECURITY SERVICES MARKET, BY DEPLOYMENT (%)FIGURE 10 NORTH AMERICA MANAGED SECURITY SERVICES MARKET, BY END-USER (%)FIGURE 11 EUROPE MANAGED SECURITY SERVICES MARKET, BY SERVICE TYPE (%)FIGURE 12 EUROPE MANAGED SECURITY SERVICES MARKET, BY ORGANIZATION SIZE (%)FIGURE 13 EUROPE MANAGED SECURITY SERVICES MARKET, BY DEPLOYMENT (%)FIGURE 14 EUROPE MANAGED SECURITY SERVICES MARKET, BY END-USER (%)FIGURE 15 ASIA-PACIFIC MANAGED SECURITY SERVICES MARKET, BY SERVICE TYPE (%)FIGURE 16 ASIA-PACIFIC MANAGED SECURITY SERVICES MARKET, BY ORGANIZATION SIZE (%)FIGURE 17 ASIA-PACIFIC MANAGED SECURITY SERVICES MARKET, BY DEPLOYMENT (%)FIGURE 18 ASIA-PACIFIC MANAGED SECURITY SERVICES MARKET, BY END-USER (%)FIGURE 19 ROW MANAGED SECURITY SERVICES MARKET, BY SERVICE TYPE (%)FIGURE 20 ROW MANAGED SECURITY SERVICES MARKET, BY ORGANIZATION SIZE (%)FIGURE 21 ROW MANAGED SECURITY SERVICES MARKET, BY DEPLOYMENT (%)FIGURE 22 ROW MANAGED SECURITY SERVICES MARKET, BY END-USER (%)