According to a report available on Radiant Insights, Inc.; the Managed Security Services (MSS) Market is likely to expand significantly by 2022. Factors such as strict government regulations and growing incidence of cyber-attacks on enterprises can drive the market during the forecast period (2018 to 2022). Most of the personal as well as transactional activities are carried electronically. For example, deals are completed over emails and important data can be saved on hard drives or personal address books. This has increased the demand for security solutions among the organizations to protect data from cyber threats. Growing adoption of cloud-based services is considered as one of the key driving factors for the market. SMEs are gradually adopting cloud computing to manage high volume of data. Increasing risk of data breaches and cyber-attacks has increased the demand for these security services among the organizations due to complexities in cyber security.
The demand for these services has increased in SMEs due to their low budget constraints for the development for IT infrastructure. Additionally, the end-users are also implementing cloud-based managed security services that can provide efficient and cost-effective security solution due to the complexity of in-house security infrastructure. Moreover, rising trend of bring your own devices (BYOD) and enterprise mobility have also increased the risk of attacks on digital devices such as laptops, computers, and laptops. This has increased the demand for endpoint threat detection solution to protect end-points from cyber threats.
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Worldwide mill managed security services market can be segmented on the basis of deployment type, end-user, and region. Based on deployment type, the Managed security services market can be segmented on the basis of on-premises and cloud-based. As per end-user, the market can be bifurcated into small and medium enterprises (SMEs) and large enterprise. Geographically, the market can be divided into Americas, Europe, the Middle East and Africa (EMEA), and Asia Pacific. North America is likely to hold major market share due to presence of major market participants. Asia Pacific is expected to be the fastest growing region over the forecast period. This growth can be attributed to rise in adoption of MSS across sectors including BFSI, government and defense across verticals, such as telecom and IT, BFSI, and government and defense. Rise in IT security spending in emerging countries such as China and India are expected to drive the Managed security services market in this region. Additionally, increasing adoption of cloud-based MSS by organizations is expected to augment the market growth. Some of the leading companies operating in the market include Cisco Systems, Fortinet, IBM corporation, Symantec Corporation, and HPE.
The Managed security services market is highly competitive due to the presence of many small and large vendors. Major market participants are expected to adopt mergers and acquisitions to expand their product range and to gain higher profits in the market. Many large vendors are making high investments in R&D activities to develop superlative protection and firewalls against threats.
For instance, Nokia recently introduced its Security Risk Index assessment service and Managed Security Service for telecom networks. These services are intended to target security challenges across mobile, IP and fixed networks in the digital transformation. The managed security services can ensure that networks are protected against all threats and offer detection, attack prevention, response, and recovery. In addition, white label model permits operators to sell these services to enterprises under their own brand.
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Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: MARKET LANDSCAPE
• Market ecosystem
• Market characteristics
• Market segmentation analysis
PART 05: MARKET SIZING
• Market definition
• Market sizing 2017
• Market size and forecast 2017-2022
PART 06: FIVE FORCES ANALYSIS
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition
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