The Global Market for Managed Security Services is Projected to Reach US$35.8 Billion by 2022

Ever-Growing Threat Landscape & the Resulting Acute Need for Network Security to Drive the Managed Security Services Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Managed Security Services market. The global market for Managed Security Services is projected to reach US$35.8 billion by 2022, driven by the growing need for advanced threat protection against the backdrop of the rise in frequency and complexity of cyber security attacks and the growing pressure for regulatory compliance.

As the digital world becomes more connected and ubiquitous, the attack surface for cyber threats has widened in proportion over the years, making network and information security a massive challenge for businesses and enterprises worldwide. Cyber attacks continue to remain a persistent threat to mission-critical digital assets of organizations. Also with organizations embracing technologies such as cloud computing, social media, persuasive computing, data analytics, robotics, and Internet of Everything (IoE), vulnerability to security attacks has increased manifold forcing companies to constantly upgrade their security systems. This in turn is prompting companies to beef up their information security systems, with the assistance of external expertise, thereby driving the demand for managed security services. Dearth of skilled IT professionals, lack of capital resources, and rising complexities in network infrastructure are major challenges for data security management. As a result, companies are outsourcing their security tasks to specialized third party service providers such as MSSPs in order to manage the network security concerns.

Strict compliance requirements and growing complexity of addressing cyber security risks are pressurizing enterprises to adopt managed security services for information protection. While big companies with bulk data storage and maintenance needs represent an attractive customer cluster for data security solutions, SMBs which largely rely on day to day transactions are also showing keen interest on information security solutions including managed security solutions. In addition, growing need for unified cyber solutions, data disclosure mandates, enhanced enterprise mobility, and the BYOD trend are benefiting growth in the managed security services market. Cloud-based security services would continue to gain share over on-premises security services driven by growing need for real-time security intelligence and advanced targeted threat protection capabilities.

As stated by the new market research report on Managed Security Services, the United States represents the largest market worldwide. Asia-Pacific is expected to spearhead global growth with a CAGR of 18.2% over the analysis period. High risk of cybercrime in emerging markets as a result of low security strategies in place, make the region a strong market for managed security services. The growth in the region is further supported by the increasing focus on IT infrastructure development and rise in public and private cloud deployments particularly in China and India.

Key players in the market include AT&T Inc., Avaya Inc., BT Group plc, CenturyLink, Check Point Software Technologies Ltd., Cisco Systems Inc., Deutsche Telekom AG, DXC Technology Co., Enterasys Networks Inc., Fortinet Inc., H3C Technologies Co. Ltd., IBM Corporation, Juniper Networks Inc., McAfee Inc., Qualys Inc., SecureWorks Inc., SonicWall Inc., Symantec Corporation, Trustwave Holdings Inc., UBIqube Solutions, Unisys Corporation, Verizon Enterprise Solutions, and WatchGuard Technologies Inc., among others.

The research report titled "Managed Security Services: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections for geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World. Key end-use sectors analyzed in the report include Financial, Government, Healthcare, Manufacturing, Utilities and Others (Retail, Consumer, Gaming, and Entertainment among Others). Segments analyzed for global market only - Cloud-Based Security (Content Security, DDoS Mitigation, IDP, Firewalls, and Other Cloud-Based Security Services) and CPE-Based Security (Content Security, DDoS Mitigation, IDP, Firewalls, and Other CPE-Based Security Services).

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