Global Managed Security Services Market – Industry Trends and Forecast to 2030

Global Managed Security Services Market, By Type (Managed Identity and Access Management (IAM), Managed Antivirus/Anti-Malware, Managed Firewall, Managed Risk and Compliance Management, Managed Vulnerability Management, Managed Security Incident and Event Management (SIEM), Managed Intrusion Detection Systems/Intrusion Prevention Systems (IDS/IPS), Managed Unified Threat Management (UTM), Managed Encryption and Others), Deployment Modes (On-Premises and Cloud), Organization Size (Small and Medium-Sized Enterprises (SMEs) and Large Enterprises), Vertical (Banking, Financial Services, and Insurance (BFSI), Government, Retail, Healthcare, IT, Telecom, Utilities, Manufacturing and Others) - Industry Trends and Forecast to 2030.

Managed Security Services Market Analysis and Size

Increase in cybercrime activities, cost effectiveness, and stringent government regulations drive the global managed security services industry. In addition, growing trend of mobile devices at workplaces and rise in electronic data fuel the growth of the global managed security services market. However, hesitation to share sensitive data restricts the market growth.

Data Bridge Market Research analyses that the global managed security services market valued at USD 29,190.62 in 2022 is expected to reach USD 72,068.65 million by 2030, and is expected to undergo a CAGR of 11.96% during the forecast period of 2023 to 2030. “Managed Identity and Access Management (IAM)” dominates the type segment of the global managed security services market due to demand from growing markets. Rising demand for effective and efficient database protection solutions is expected to influence the growth of global managed security services market over the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Managed Security Services Market Scope and Segmentation

Market Definition

Managed security service refers to the management of IT security functions by third-party service providers. The major aim behind this is to protect an organization’s crucial information setup against a number of security attacks and malicious practices. Managed security services are effective in continuously monitoring and handling of intrusion detection systems.  

Global Managed Security Services Market Dynamics

Driver

• Rising Demand for Effective and Efficient Database Protection Solutions

Rising demand for effective and efficient database protection solutions and systems will emerge as the major market growth driving factor. Surging number of organizational data thefts and cybercriminals, growing number of small and medium scale enterprises especially in the developing economies, rising digitization of economies and surge in the adoption of cloud technology and internet of things devices will further aggravate the growth of the market. Increasing internet penetration and growing public expenditure for the development of IT infrastructure are some other factors bolstering the growth of the market.

Opportunity

• Surge in the Adoption of Advanced Technologies

Surge in the adoption of advanced technologies such as artificial intelligence, growing adoption of cloud based services especially by small and medium scale enterprises and rising cases of security breaches and intellectual property thefts are the major factors attributable to the opportunities of the global managed security services market.

Restraint/Challenge

• Lack of Skilled Workforce and Technological Expertise

However, lack of skilled workforce and technological expertise in underdeveloped and developing economies and lack of trust among enterprises in giving full control of their system architecture to third party service providers will act as a growth restraint for the market. Also, governments across the world are developing numerous stringent information security regulations and this will yet again hamper the market growth rate. Lack of a strong IT infrastructure in the underdeveloped economies will also hamper the market growth rate.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In August 2021, IBM introduced new SASE services capable of delivering cloud security at the edge, closer to the users and devices that access corporate resources. The new SASE services combine capabilities of IBM Security and Zscaler technology, where Zscaler CSPM capability is also integrated with cloud-based SASE architecture
• In May 2021, SecureWorks signed an agreement with NEXTGEN (U.S.) to develop its distribution channel for Taegis XDR in Asia Pacific. Taegis XDR is a cloud-based extended detection and response service that offers security operations expertise and threat intelligence to its customers.

Global Managed Security Services Market Scope

The global managed security services market is segmented on the basis of type, deployment modes, organization size and vertical. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Managed Identity and Access Management (IAM)
• Managed Antivirus/Anti-Malware
• Managed Firewall
• Managed Risk and Compliance Management
• Managed Vulnerability Management
• Managed Security Incident and Event Management (SIEM)
• Managed Intrusion Detection Systems/Intrusion Prevention Systems (IDS/IPS)
• Managed Unified Threat Management (UTM)
• Managed Encryption
• Others

Deployment Modes

• On-Premises
• Cloud

Organization Size

• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises

Vertical

• Banking, Financial Services, and Insurance (BFSI)
• Government
• Retail
• Healthcare
• IT
• Telecom
• Utilities
• Manufacturing
• Others

Global Managed Security Services Market Region Analysis/Insights

The global managed security services market is analyzed and market size insights and trends are provided by region, type, deployment modes, organization size and vertical as referenced above.

The regions covered in the global managed security services market are North America, South America, Europe, Asia-Pacific, and the Middle East and Africa. The countries covered in the global managed security services market report are U.S., Canada, Mexico, Brazil, Argentina, the Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa

North America dominates the global managed security services market because North America is home to renowned research institutions, universities, and technology companies that conduct cutting-edge research in photonics and integrated circuit technologies. This strong R&D ecosystem fosters innovation and drives advancements in Managed Security Services circuits.

Asia-Pacific is expected to be fastest-growing country in the global managed security services market due to the Asia-Pacific region has a large and rapidly growing population, along with a significant increase in internet usage and data consumption. This drives the demand for high-speed and efficient communication networks, which can benefit from the use of Managed Security Services circuits. PICs are capable of integrating multiple optical components on a single chip, making them well-suited for high-speed data transmission and communication applications.

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Managed Security Services Market Share Analysis

The global managed security services market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the global managed security services market.

Some of the major players operating in the global managed security services market are:

• IBM (U.S.)
• AT&T (U.S.)
• NTT (Japan)
• Accenture (Ireland)
• DXC Technology (U.S.)
• SecureWorks (U.S.)
• Security (Switzerland)
• Proficio (U.S.)
• CrowdStrike Trustwave (U.S.)
• Atos (France)
• Orange Cyberdefense (France)
• Fujitsu (Japan)
• Kudelski (U.S.)