The Global Managed Security Services analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status.
The Global Managed Security Services Market is expected to reach USD 1,454.72 million by 2025, from USD 797.68 million in 2017, growing at a CAGR of 7.8% during the forecast period of 2018 to 2025.
The global managed security services market (MSS) refer to the remote monitoring and management of IT security functions by third-party service providers in order to effectively protect the sensitive data of organizations. The task of information security is becoming more complex with the growth of business in terms of size and structure and utilization of social media, cloud services, big data and various computing devices. Rising number of security attacks and malicious practices by organized cybercriminal groups has been creating concerns among the organizations. In addition, increased complexities in network infrastructure are proving to be major hindrances in data security management. In such a scenario, the outsourcing of security task to managed security service providers has emerged as a lucrative option for the organizations.
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The key players in the global managed security services market are Verizon Communications, IBM Corporation, Symantec Corporation, At & T, Dell Secureworks Inc., Deloitte, Cisco Systems Inc., Ericsson, Trustwave Holdings Inc., Accenture PLC, HP Enterprise, and Computer Sciences Corporation, Fortinet, Avaya Inc., BT Group plc, CenturyLink and HPE among others.
The affordable, reliable, and effective security solutions form managed security service providers help the customer/client organizations protect their sensitive information and in turn, their business. This report describes the managed security services market share across the globe with various segments. These services form a major part of the managed security market size. The trend of BYOD adoption at workplaces to improve productivity by allowing the employees to access corporate data via personal devices has been rising. Lack of capital resources and skilled IT staffs has been diverting organizations from in-house security management towards outsourcing. In addition, compliance requirements for data security are stimulating the organizations to outsource the data security tasks. However, reluctance to share sensitive data and varying customer demands regarding security package are the major challenges for the managed security services market.
Managed security service providers have emerged as profitable options, as these help businesses in protecting corporate online assets, password files, sensitive e-mails, and networks. Thus, managed security services has been gaining acceptance among businesses of all sizes as the businesses are significantly increasing spending on network security. This has augmented the size of the network security services market segment.
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The value chain of the managed security services market comprises various stages, namely analysis of existing network, security requirement study, design of the infrastructure, testing and integration, maintenance, and future upgradation. The future upgradation stage involves the enhancement of existing software and hardware. The network security services market segment is set to contribute significantly to the managed security services market growth.
Increasing cybercrime activities and cost-effectiveness are some of the factors that are expected to enhance the managed security services market size. However, governments across the world are developing numerous stringent information security regulations that would restrict market growth. Also, growing trend of mobile devices at workplaces would create lucrative opportunities for the managed security services market.
Major Market Drivers and Restraints:
- Increasing prevalence of respiratory diseases.
- Rising geriatric population
- Growing number of preterm births
- Technological advancements
- Reimbursement Scenario
- High cost of mechanical Managed Security Services
- Shortage of regular system for different ventilation modes
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