Managed Security Services Market: Global Industry Analysis and Forecast (2024 -2030)

Managed Security Services Market Overviews

The global Managed Security Services Market reaches a substantially large market size in 2030 and registers a high CAGR over the forecast period. Industry analysis indicates that increasing demand for Managed Security Services Market among end-users, such as BFSI, IT, and telecom, is driven by changing market trends, which support industry growth as well as Managed Security Services Market growth during the forecast period. Managed security services are proactive security measures offered by third-party vendors. These services are tailored to the need and security requirements of an organization. Managed Security Services Market includes continuous monitoring, analysis, and assessment of networks (cloud-based or on-premises) and applications. Ongoing advancements in the IT sector are creating issues related to security. Organizations are taking collaborative R&D initiatives and forming partnerships to develop effective managed security services for quickly evolving IT technologies.

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Managed Security Services Market Scope and Methodology:

Growing adoption of MSS due to multilayered expertise, cost-effective approach, and service Organizations across industries are adopting Managed Security Services Market because they offer several benefits, such as round-the-clock monitoring and management of intrusion detection systems and firewalls, overseeing patch management and upgrades, performing security assessments and security audits, and responding to emergencies. MSSPs have experience, expertise, and an extensive set of tools and technology that monitor security threats, update systems, and mitigate vulnerabilities at an affordable cost. It helps in maintaining the right security layers, which include software patching, DNS security, firewalls, anti-malware, anti-phishing software, credential managers, lAM tools, and more to protect the organization's confidential information. MSSPs monitor the assets and network using many dedicated tools such as Al to identify anomalies and avoid unplanned disruptions. Limited capabilities to provide threat-hunting and incident response services. Many MSSPs only provide security log monitoring services, which does not allow MSSPs to provide a deeper level of security incident investigations.

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Managed Security Services Market Regional Insights

the North American market accounts for the largest revenue share in the global managed security services market. Advancements in the IT sector have prompted several organizations in the region to enter the managed security services market. An increase in the number of complex cyber-attacks has led to increasing the deployment of managed security services in the region. Revenue from the Asia Pacific managed security services market is expected to increase at a significantly high rate over the forecast period, due to increased expenditure on IT security in countries such as India and China and the implementation of stricter cyber security regulations in the region. For example, in 2016, Taiwan revised the Personal Data Security Act by incorporating confidential personal information into the Act.

Managed Security Services Market Segmentation

Based on Industry verticals, The BFSI segment dominates the Managed Security Services Market in the year 2023 and is expected to do the same during the forecast period. The event monitor has the largest market share in 2023. With the increased risk of cyber threats, BFSI security is widely adopted to enable secure and convenient financial transactions by installing surveillance cameras, security scanners, firewalls, biometric authentication, and anti-malware protection solutions. The widespread adoption of encryption software to prevent unauthorized access and protect sensitive customer data and financial transactions is favoring market growth. Various technological advancements, such as the integration of connected devices with the Internet of Things (IoT), machine learning (ML), and artificial intelligence (AI) solutions, are favoring Managed Security Services Market growth.

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Managed Security Services Market Key Players

AT&T (US)
NTT (Japan)
DXC Technology (US)
SecureWorks (US)
Trustwave (US).
Atos (France)
Orange Cyberdefense (France)
Fujitsu (Japan)
Kudelski Security (Switzerland)
Proficio (US).
CrowdStrike (US)
F5 (US)

Key questions answered in the Managed Security Services Market are:

What is Managed Security Services?
What was the Managed Security Services market size in 2023?
What is the growth rate of the Managed Security Services Market?
Which are the factors expected to drive the Managed Security Services market growth?
What are the different segments of the Managed Security Services Market?
What growth strategies are the players considering to increase their presence in Managed Security Services?
What are the upcoming industry applications and trends for the Managed Security Services Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Managed Security Services Market?
Who are the leading companies and what are their portfolios in Managed Security Services Market?
What segments are covered in the Managed Security Services Market?
Who are the key players in the Managed Security Services market?
Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by Different Segment | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
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