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(Wireless-NewsWire.Com, November 19, 2018 ) [163 Pages Report] The global Managed Security Services market size was USD 20.81 Billion in 2017 and is expected to reach USD 47.65 Billion by 2023, growing at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period. The base year considered for this study is 2017, and the forecast period is 2018–2023.
The managed security services ecosystem comprises MSSPs, such as IBM (US), SecureWorks (US), Symantec (US), Trustwave (US), Verizon(US), AT&T (US), Atos (France), BAE Systems (UK), BT (UK), CenturyLink (US), CIPHER (US), DXC (US), Fortinet (US), Fujitsu (Japan), NTT Security (Japan), and Wipro (India). The other stakeholders of the Managed Security Services market include, cybersecurity vendors, government agencies, and system integrators.
Key Target Audience
Managed Security Service Providers (MSSPs)
System integrators
Cybersecurity vendors
Government agencies
Value-added resellers
Research organizations
IT security agencies
IT associations
Investors and venture capitalists
Defense organizations
Consulting firms
Value-added Resellers (VARs)
Managed security services have been deployed across verticals, including, Banking, Financial Services, and Insurance (BFSI), government and defense; telecom and IT, retail, healthcare, energy and utilities, manufacturing, and others (education, media and entertainment, and automotive). The BFSI vertical is estimated to have the largest market size in 2018, due to the growing use of web and mobile applications for banking transactions and payments. However, the healthcare segment is expected grow at the highest CAGR during the forecast period.
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The global Managed Security Services market has been segmented on the basis of 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America, to provide a region-specific analysis in the report. North America, followed by Europe, is estimated to be the largest revenue-generating region for managed security service vendors in 2018. This can be attributed to the developed economies, the US and Canada, as there is a high focus on R&D of security technologies and solutions. APAC is expected to be the fastest-growing region in the market, due to the increasing adoption of advanced technologies that are leading to increasing instances of cyber-attacks on enterprises.
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