Managed Security Services Market by Product, Type, Deployment, Industry

Description

List of Tables

[181 Pages Report] The Managed Security Services Market size was estimated at USD 47.18 billion in 2023 and expected to reach USD 54.19 billion in 2024, at a CAGR 14.95% to reach USD 125.19 billion by 2030.

The Managed Security Services (MSS) market encompasses firms that outsource their information security needs to external providers. Managed security services, including round-the-clock monitoring and intrusion detection systems and firewalls, overseeing patch management and upgrades, performing security assessments and security audits, and responding to emergencies. The escalating number and complexity of cyber threats significantly drive the demand for specialized security services. Compliance requirements with regulatory standards and the need to protect sensitive data also contribute to market growth. Additionally, expanding IoT and BYOD policies in workplaces introduces new vulnerabilities, pushing companies toward MSS providers. However, the continual evolution of cyber threats creates a barrier for market growth, making it difficult for MSS providers to offer up-to-date protection. Additionally, there is a growing emphasis on data privacy regulations globally, placing a higher compliance burden on providers and creating challenges for market growth. Moreover, the managed Security Services market has numerous opportunities, particularly in offering specialized services for emerging threats associated with cloud computing, IoT, and mobile devices. The market space has also potential in leveraging AI and machine learning to enhance threat detection and response.

KEY MARKET STATISTICS
Base Year [2023]	USD 47.18 billion
Estimated Year [2024]	USD 54.19 billion
Forecast Year [2030]	USD 125.19 billion
CAGR (%)	14.95%

Product: Increasing need of robust managed security services to protect their digital assets

Intrusion detection systems monitor system activities for malicious activities or policy violations that require real-time monitoring and incident response mechanisms. Managed firewalls are critical for safeguarding an organization's network perimeter by controlling inbound and outbound traffic based on an applied rule set. Managed firewalls are ideal for organizations of all sizes seeking to offload the complex tasks of policy management, software updates, and log monitoring. VPNs extend a private network across a public network, enabling users to send & receive data across public networks as their computing devices are directly connected to the private network. Vulnerability scanning services help identify security loopholes in the network or applications, whereas anti-viral services protect against malware and virus attacks.

Deployment: Rising on cloud deployment due to scalability, flexibility, and cost-effectiveness

On-cloud managed security services are delivered over the internet and hosted on cloud infrastructure. Businesses opt for on-cloud managed security services due to the minimal capital investment required, the ability to scale services based on demand, and the ease of updates and maintenance by the service provider. On-premises managed security services are deployed within the physical premises of the organization. Organizations with stringent regulatory and compliance requirements, such as those in the finance, government, and healthcare sectors, often prefer on-premises deployment.

Regional Insights

In North America, particularly in the United States and Canada, there is a high demand for managed security services (MSS) due to the increasing number of cyber-attacks and stringent regulatory compliance requirements. Businesses, especially in finance, healthcare, and government sectors, prioritize investments in security measures. The U.S., being a hub for technological innovation, also sees a constant flow of patents related to cybersecurity, indicating a robust environment for MSS development and adoption. The EMEA region presents a diverse landscape for MSS. In the EU, the General Data Protection Regulation (GDPR) has been a significant driver for adopting security services, with businesses striving to avoid hefty fines by ensuring compliance. The Middle East, with its strategic emphasis on becoming a digital economy, is investing heavily in cybersecurity infrastructures, including MSS. Africa, though in the nascent stages of MSS adoption, shows promise due to the growing internet penetration and increasing awareness of cyber risks. The Asia Pacific region is experiencing rapid digital transformation, making it a hotbed for cybersecurity threats and opportunities for MSS providers. China's substantial investments in cybersecurity research and the government's push for a more secure digital environment illustrate the country's proactive stance. Japan, known for its technological prowess, and India, with its burgeoning IT sector, are also witnessing a growing awareness and adoption of managed security services.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Managed Security Services Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Managed Security Services Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Managed Security Services Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Alert Logic, Inc., Atos SE, Broadcom Inc., CenturyLink, Inc., Cipher, DXC Technology Company, Fortinet, Inc., Happiest Minds Technologies Pvt. Ltd., International Business Machines Corporation, Kyndryl Inc., NTT Ltd., Optiv Security Inc., Unisys Corporation, and Wipro Limited.

Market Segmentation & Coverage

This research report categorizes the Managed Security Services Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Intrusion Detection
- Managed Firewall
- Virtual Private Network
- Vulnerability Scanning & Anti-viral Services

Type
- Managed Application Security
- Managed Cloud Security
- Managed Endpoint Security
- Managed Network Security

Deployment
- On-Cloud
- On-Premises

Industry
- Aerospace & Defense
- Automotive & Transportation
- Banking, Financial Services & Insurance
- Building, Construction & Real Estate
- Consumer Goods & Retail
- Education
- Energy & Utilities
- Government & Public Sector
- Healthcare & Life Sciences
- Information Technology
- Manufacturing
- Media & Entertainment
- Telecommunication
- Travel & Hospitality

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Managed Security Services Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Managed Security Services Market?

3. What are the technology trends and regulatory frameworks in the Managed Security Services Market?

4. What is the market share of the leading vendors in the Managed Security Services Market?

5. Which modes and strategic moves are suitable for entering the Managed Security Services Market?

Product Code: MRR-437896AA34EE

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Need for robust and cost-effective security services to monitor and manage security events
  - 5.1.1.2. Rising security threats and cyber-attacks across enterprises
  - 5.1.1.3. Growing importance of e-business
- 5.1.2. Restraints
  - 5.1.2.1. Hesitation to share sensitive data and MSSP services not integrating well with existing tools
- 5.1.3. Opportunities
  - 5.1.3.1. Rising adoption of cloud technology and IoT integration with managed security service providers
  - 5.1.3.2. Increasing amalgamation activities across major enterprise
- 5.1.4. Challenges
  - 5.1.4.1. Scarcity of skilled security expertise
5.2. Market Segmentation Analysis
- 5.2.1. Product: Increasing need of robust managed security services to protect their digital assets
- 5.2.2. Deployment: Rising on cloud deployment due to scalability, flexibility, and cost-effectiveness
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Managed Security Services Market, by Product

6.1. Introduction
6.2. Intrusion Detection
6.3. Managed Firewall
6.4. Virtual Private Network
6.5. Vulnerability Scanning & Anti-viral Services

7. Managed Security Services Market, by Type

7.1. Introduction
7.2. Managed Application Security
7.3. Managed Cloud Security
7.4. Managed Endpoint Security
7.5. Managed Network Security

8. Managed Security Services Market, by Deployment

8.1. Introduction
8.2. On-Cloud
8.3. On-Premises

9. Managed Security Services Market, by Industry

9.1. Introduction
9.2. Aerospace & Defense
9.3. Automotive & Transportation
9.4. Banking, Financial Services & Insurance
9.5. Building, Construction & Real Estate
9.6. Consumer Goods & Retail
9.7. Education
9.8. Energy & Utilities
9.9. Government & Public Sector
9.10. Healthcare & Life Sciences
9.11. Information Technology
9.12. Manufacturing
9.13. Media & Entertainment
9.14. Telecommunication
9.15. Travel & Hospitality

10. Americas Managed Security Services Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Managed Security Services Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Managed Security Services Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Atturra and MyCISO Launch Managed Security Program Service
- 13.3.2. Radware Launches Enhanced Program for Managed Security Service Providers
- 13.3.3. Schneider Electric Launches Managed Security Services for Operational Environments
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio