Managed Security Services (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 across all industry sectors. 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. Managed security services may be delivered either by setting up necessary security infrastructure or by complete control by the service provider from remote location.
Browse Full Report Visit – Global Managed Security Services Market 2022
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 across the globe with various segments. 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 have 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 market. Growing awareness about data breaches is expected to create opportunities for MSSPs in the future.
The world managed security services market is segmented based on deployment mode, organization size, application, verticals, and geography. The application segment includes managed IPS/IDS, DDoS, UTM, firewall management, endpoint security. The deployment mode segment includes cloud-based and on-premise or customer-premise equipment deployment. Organizations are divided into small- and medium-sized businesses and large businesses. The vertical segment includes BFSI, telecom & IT, retail, healthcare, and manufacturing sectors. Key players in managed security services industry include IBM, HP, Cisco Systems Inc., Dell SecureWorks, AT&T, Computer Science Corp., Symantec Corp., Fortinet Inc., Check Point Software Technologies Ltd., and BT Group.
View Full Report :
Managed Security Services Market by Deployment Mode (Hosted or cloud-based MSS and On-premise or customer-premise equipment) and Application (Managed IPS and IDS, Distributed Denial of Services, UTM, SIEM, Firewall management, Endpoint Security and Others
Value chain analysis
Rising number of attacks and malicious practices across the world are creating concerns about data security. 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 have been gaining acceptance among businesses of all sizes as the businesses are significantly increasing spending on network security. In addition, the reliable, effective and affordable managed security solutions, by the service providers help customers in protecting their information.
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.
Today, the managed security services are gaining importance, as data security is becoming a prime concern. The information network of companies is continuously facing advanced threats from various entities. In order to protect enterprises from such attacks, leading industry players in the managed security services market are introducing hi-tech and more secure solutions. Thus, product launch is the most sought-after strategy adopted by the leading industry players. In addition, partnerships and acquisitions are the other two prominent strategies within this industry.
Top investment pockets
Presently, Banking, Financial Services and Insurance sectors, are leading sectors that outsource security tasks. The regulatory standards regarding protection of citizens’ confidential data is compelling all banks, financial institutions to maintain stringent data security. In addition, these institutions seek efficient data security mechanism, to sustain their brand image. Nowadays, the usage of electronic devices is rising in the healthcare sector in order to improve efficiency, save cost, and improve patient safety. For instance, practices such as electronic health records require advanced data protection to secure patients’ data. Therefore, the healthcare sector is emerging as a lucrative sector to invest. Among other verticals, telecom, IT & retail sectors also deal with large amount of sensitive data that needs to be protected. The manufacturing companies also seek advanced security solutions to protect their intellectual property from frequent cyber-attacks. Other sectors such as government, power, utility, and aerospace also require cost-effective and efficient security solutions to monitor and manage information security.
Top factors impacting the market
Increasing cybercrime activities and cost-effectiveness are some of the factors that are expected to drive market growth. However, governments across the world are developing numerous stringent information security regulations would restrict market growth. Also, growing trend of mobile devices at workplaces would create lucrative opportunities for the market.
In 2015, the IPS & IDS application accounted for the highest revenue-generating segment, occupying maximum market share. The capability of this solution to secure network from advanced malicious practices and continuous security monitoring and incidence management has increased its demand. However, the endpoint security application is observed to have the highest CAGR during the forecast period owing to its advantages in vulnerability management and speedy response to threats. The increased usage of mobile devices at workplaces would facilitate in increased demand for this solution. Also other applications such as Identity and Access Management (IAM) proving beneficial for strengthening compliance management and integration of user populations from multiple channels.
Growing numbers of cybercrimes has increased the demand for MSS across regions including North America, Europe, Asia-Pacific, and LAMEA. To follow the stringent regulations pertaining to information security, the number of managed security service providers are growing in North America. Furthermore, in close competition is Europe, which shows all signs of a developed market. Moreover, the landscape for MSS providers remain stable, as the increasing complexities in cyber-attack are still the same. The adoption of MSS has considerably risen in Asia-Pacific and the Middle East markets to curb rising cases of cyber-attacks. Big data analytics would be critical for market growth across the world.
POTENTIAL BENEFITS FOR STAKEHOLDERS
This study provides an in-depth analysis of managed security services market with current and future trends to elucidate the imminent investment pockets in the market.
The report provides information regarding key drivers, restraints, and opportunities with impact analysis.
Porter’s five forces analysis of the industry and a SWOT analysis of the key market players are provided to illustrate their business strategies.
The value chain analysis of the industry provides a clear view of key intermediaries involved and elaborates their roles and value addition at every stage in the chain.
The quantitative analysis of the market through 2014-2022 is provided to elaborate the market potential.
MANAGED SECURITY SERVICES MARKET KEY SEGMENTS
The market is segmented based on deployment mode, organization size, application, verticals, and geography.
By Deployment Mode
- Hosted or cloud-based MSS
- On-premise or customer-premise equipment (CPE) MSS
- Organization Size
- Small- & medium-sized businesses
- Large businesses
- Managed IPS and IDS
- Distributed Denial of Services (DDoS)
- Unified threat management (UTM)
- Secured information & event management (SIEM)
- Firewall management
- Endpoint Security
- Banking Financial Services & Insurance (BFSI)
- Telecom & IT
Latest Reports :
About – Acute Market Reports :
Acute Market Reports is the most sufficient collection of market intelligence services online. It is your only source that can fulfill all your market research requirements.We provide online reports from over 100 best publishers and upgrade our collection regularly to offer you direct online access to the world’s most comprehensive and recent database with expert perceptions on worldwide industries, products, establishments and trends.
Our team consists of highly motivated market research professionals and they are accountable for creating the groundbreaking technology that we utilize in our search engine operations to easily recognize the most current market research reports online.
Website : http://www.acutemarketreports.com
Company Name: Acute Market Reports
Contact Person: Chris Paul
Phone: India: +91 7755981103, Toll Free US/Canada: +1-855-455-8662
Address:Office No 01, 1st Floor, Aditi Mall, Baner