Research Nester published a report titled “Managed Security Services Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of managed security servicesin terms of market segmentation bysolution type, security type, deployment mode, enterprise size, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The Internet has been one of the most transformative and fast-growing technologies. According to The World Bank, as of 2020, 60% of the population. Increasing internet penetration is driving the need to manage internet security, especially for organizations.
This is a key factor driving theglobal managed security services market,which is estimated to generate a revenue ofapproximately USD 58 Billion by 2031by growing at a CAGR of nearly 15% over the forecast period, i.e., 2022 – 2031. The growth of the market can also be attributed to growing trends of BYOD among organizations.
The market is segmented by solution type intoidentity & access management, firewall management, intrusion detection & prevention, distributed denial of services, endpoint security, unified threat management, secured information & event management, out of which, the intrusion detection & prevention segment is anticipated to hold the largest shareon the back the capability of this solution to secure network and monitor network traffic for signs of possible attacks.
Geographically, the global managed security services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which,North America is anticipated to hold the largest market share owing to owing to increasing cases of security breach in the region. Additionally, Asia-Pacific region is estimated to witness fastest growth during the forecast period.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Incidences of Security Breach in Organizations Resulting in Data Lossto Boost Market Growth
Cyber security breaches are growing continuously in both frequency and sophistication. Organizations are frequently falling victim to attacks leading to disruption in operation and losing significant revenue and reputation.
Keeping up with the incredibly fast evolving cyber threats, organizations choose to shift to outsourced security resources to gain security expertise and lessen the expenditure.With organisations leveraging the flexibility of hybrid cloud benefits to create a unified security approach and manage their security strategy efficiently, demand for managed security services is increasing exponentially. These factors are majorlyfostering the growth of the global managed security services market.
However, lack of capital resources in mostly SMEs, skilled IT professionals to handle challenging situations, and reluctance and trust issues on third-party applications to share sensitive dataare expected to operate as barriers to the growth of global managed security services market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global managed security services market which includes company profiling of IBM, SecureWorks, Inc., Verizon, Trustwave Holdings, Inc., Broadcom Inc., AT&T Inc., BAE Systems, CIPHER, Accenture, NTT Limited, among others.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global managed security services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.