Managed Security Services Market Size Was Valued at USD 27.7 Billion in 2022, and is Projected to Reach USD 60.2 Billion by 2030, Growing at a CAGR of 10.2% From 2023-2030.
The managed security services market is a critical segment within the cybersecurity industry, offering a range of outsourced security solutions to businesses and organizations. Managed security service providers (MSSPs) offer services such as threat monitoring, incident response, vulnerability management, and security consulting to help clients protect their digital assets, data, and networks from cyber threats. With the increasing frequency and sophistication of cyberattacks, coupled with stringent regulatory requirements and growing awareness about cybersecurity risks, the demand for managed security services is on the rise globally. The market serves diverse sectors, including banking and finance, healthcare, government, and IT, addressing the need for proactive and comprehensive security solutions.
Top Key Companies in Managed Security Services Market:
AT&T (US),IBM (US),DXC Technology (US),SecureWorks (US),Trustwave (US),Proficio (US),CrowdStrike (US),F5 (US),Help Systems (US),Lumen Technologies (US),Kroll (US),Cipher Security (US),RSI Security (US),TrustNet (US),LightEdge (US),Virtual Armour (US),Lynx Technology (US),Nettitude (US),Accenture (Ireland),Orange Cyberdefense (France),Atos (France),Fujitsu (Japan),Kudelski Security (Switzerland),Infosys (India),SecurityHQ (UAE).
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Managed Security Services Market Trend Analysis:
Market Driver:
One significant driver in the managed security services market is the escalating cyber threat landscape and the evolving nature of cyberattacks. Organizations face a constant barrage of cyber threats, including malware, ransomware, phishing attacks, and insider threats, which can result in data breaches, financial losses, and reputational damage. The growing complexity and sophistication of cyber threats exceed the capabilities of many organizations to manage internally, driving the demand for outsourced security solutions. Managed security services offer expertise, resources, and advanced technologies to help organizations detect, prevent, and respond to cyber threats effectively, mitigating risks and safeguarding critical assets.
Market Opportunity:
An emerging market opportunity lies in the expansion of managed security services to address the cybersecurity needs of small and medium-sized enterprises (SMEs) and niche industries. While large enterprises have traditionally been early adopters of managed security services, SMEs and organizations in sectors such as manufacturing, retail, and education are increasingly recognizing the importance of cybersecurity and seeking affordable and scalable solutions. MSSPs have the opportunity to tailor their services to the specific requirements and budget constraints of SMEs, offering simplified pricing models, cloud-based solutions, and managed detection and response (MDR) services. By targeting underserved market segments and offering customized solutions, MSSPs can capitalize on the growing demand for managed security services among SMEs and niche industries.
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Managed Security Services Market Segment Analysis:
By Service Type
- Managed IAM
- MDR
- Managed SIEM
- Log Management
By Type
- Fully Managed
- Co-managed
By Security Type
- Network
- Cloud
- Endpoint
- Application
By Region:
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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