10th December, 2018- Managed Security Services Market is anticipated to witness exponential growth in the forecast period. Managed security services (MSS) are employed to monitor and manage the security aspects of their customers IT infrastructure. It is mainly provided by managed security service providers (MSSPs).
The factors that propel the growth of the market include growing BYOD trends among administrations, stringent regulations and rising instances of cyber-attacks on enterprise IT infrastructure. On the other hand, the key factor that may hamper the growth of the market include lack of supporting IT infrastructure. The market is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. Market may be explored by type, security type, deployment type, vertical, organization size, and geography.
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Market may be explored by type as Managed Security Information and Event Management (SIEM), Managed antivirus/anti-malware, Managed Identity and Access Management (IAM), Managed risk and compliance management, Managed Intrusion Detection System/ Intrusion Prevention System (IDS/IPS), Managed disaster recovery, Managed vulnerability management, Managed encryption, Managed Firewall, Managed Unified Threat Management (UTM), Managed Distributed Denial of Service (DDoS) mitigation, Managed Data Loss Prevention (DLP), and Others may further include managed application whitelisting, managed patch management and managed web filtering. The “Managed IAM” segment led the market in 2017 and is anticipated to maintain its dominance over forecast period.
North America accounted for the major share of the Managed Security Services Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth included increasing presence of technology giants such as Google, IBM, Verizon Communications and Cisco Systems, and increasing initiatives on the part of the government for the acceptance of Managed Security Services. North America is likely to be followed by Europe and Asia-Pacific and anticipated to be the highest growing regions over the forthcoming period, due to the increasing adoption of Managed Security Services by the medium and small-sized enterprises.
Some of the key players that fuel the growth of the Managed Security Services Market comprise IBM Corporation, Verizon Communications, At & T, Symantec Corporation, Deloitte, Dell SecureWorks Inc., Ericsson, Cisco Systems Inc., Accenture PLC, Trustwave Holdings Inc., Computer Sciences Corporation and HP Enterprise. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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