As per the report published by Market Research Future (MRFR), the global managed security services market is registered to expand significantly at a robust CAGR of over 12% during the forecast period of 2020-2027 and to reach the valuation of USD 34 Bn by the end of 2027.
Market Overview
The incidence of tight budgets is estimated to increase the reliance on the managed security services market 2020. The technology reports are produced by Market Research Future, which features market options for expansion. An income base of USD 34 Billion is predicted to be established at 12% of CAGR by 2022.
The need to ensure maximum security for protecting business assets connected to web applications, mobility, social media, and big data are estimated to fortify the managed security services market size in the impending period. The prerequisite for successful businesses to set up advanced threat protection that can arise due to increasing cyber-attacks is estimated to broaden the scope of deployment of the managed security services market in the coming years.
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Segmental Analysis
The segmental analysis of the managed security services market has been conducted on the basis of organization size, service type, region, deployment, and end-user. On the basis of service types, the managed security services market is segmented into unified threat management, DDOS, IPS & IDS, endpoint security, SIEM, and firewall management. On the basis of organization size, the managed security services market is divided into SMBs and large enterprises. On the basis of deployment type, the managed security services market is segmented into on-premise cloud and hybrid. On the end-user basis, the managed security services market is segmented into IT/ITES, aerospace & defense, retail, manufacturing, BSFI, healthcare, government, and others. Based on the regions, the managed security services market consists of Asia Pacific, North America, Europe, and the rest of the regions.
Detailed Regional Analysis
The regional investigation of the managed security services market is conducted for regions such as North America, Europe, Asia Pacific, and the rest of the world. The study states that the North American region will dominate the managed security services market in the forecast period owing to the occurrence of countries that are highly advanced, such as Canada, United States, and also have a high implementation of managed security solutions to check the ever-changing rules and regulations. The study also points toward the European region holding the second principal market share in the managed security services market in the forecast period while effectively demonstrating steady and constructive growth in the market. The study reveals that the Asia Pacific region would display a positive development in the managed security services market in the forecast period.
Competitive Analysis
The market is in a stage that requires careful and strategic planning to ensure that the growth achieved thus far is not compromised. The market is also expected to emphasize on innovation to amplify the development scope in the global market. The need to integrate is projected to become even more prominent in the market in the upcoming period. The market is expected to revitalize its options for development as it overcomes this period of uncertainty in a careful and calibrated manner, the enhancement of the supply chains is estimated to focus on the incorporation of robotic assets so as to broaden the scope of supply that can be expected from the market on the whole. The competition in the market is estimated to be focused on mitigating the effect of external forces rather than exclusively dealing with internal competition. The government role is estimated to be pronounced in the near term as their backing is essential to get the growth of regional markets on track.
The renowned players in the managed security services market are Verizon Communications (U.S.), CenturyLink (U.S.), IBM (U.S.), AT&T (U.S.), Symantec Corporation (U.S.), Solutionary Inc. (U.S.), H.P. Enterprises (U.S.), Fortinet (U.S.), Dell SecureWorks (U.S.), CSC (U.S.), Trustwave (U.S.), Rapid 7 (U.S.), B.T. Group (U.K.) among others.
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