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Cyber Security

Global Managed Security Services (MSS) Market Worth $46+ Billion by 2025 – Growth Forecasts by Type, Deployment Mode, Organization Size, Vertical and Region

The “Managed Security Services Market by Type (Managed IAM, Antivirus/Antimalware, SIEM, and UTM), Deployment Mode, Organization Size, Vertical (BFSI, Government, Retail, Healthcare, Telecom, Utilities, and Manufacturing), and Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.

The global MSS market size is expected to grow from USD 31,659 million in 2020 to USD 46,425 million by 2025, at a Compound Annual Growth Rate (CAGR) of 8% during the forecast period.

This market study covers the MSS market size across segments. It aims at estimating the market size and the growth potential of this market across segments categorized into types, deployment modes, organization size, verticals, and regions. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Rising security breaches and sophisticated cyber-attacks across enterprises are driving the overall growth of the Managed Security Services (MSS) market.

The market growth is driven by various factors, including the increasing government regulations and rising security breaches across enterprises.

The managed identity and access management segment to grow at a higher CAGR during the forecast period

MSS are proactive security measures tailored according to the need and ever-evolving security landscape of organizations. These services include continuous monitoring and analysis, advanced technology, network assessment, and application and security specialists to advice stakeholders in organizations. Managed Identity and Access Management (IAM) helps in driving automation, managing consumer identities, and establishing a risk-based approach, among others. Some of the companies are integrating technologies such as robotics with IAM. Single Sign-on (SSO) and Multi-Factor Authentication (MFA) are the two most common systems used in IAM. Hence, the managed IAM segment is expected to be a larger segment during the forecast period.

The healthcare vertical to be the fastest-growing vertical during the forecast period

The Banking, Financial, Services, and Insurance (BFSI) vertical is estimated to dominate the MSS market with the largest market size, while the healthcare vertical is the fastest-growing vertical during the forecast period. MSS are expected to help the BFSI vertical in keeping the confidentiality of sensitive data, which will, in turn, help in maintaining the overall security posture. The biggest advantage of using MSS in the BFSI vertical is 24*7*365 monitoring, which results in immediate incident response and remediation in case of a security breach. The BFSI vertical is very careful about the security of the sensitive data of its customers. Hence, for enhancing the protection of online services from cyberattacks, companies are adopting MSS in the BFSI vertical.

In the healthcare vertical, MSS such as Medical Device Penetration Testing, Network Segmentation for Medical Equipment, Device Inventory and Risk Analysis, Medical Device Risk Assessments, and continuous incident response will play an integral role in securing the entities related to patients as well as hospital data. Moreover, MSS also helps healthcare organizations comply with stringent Health Insurance Portability and Accountability Act (HIPAA) and Payment Card Industry Data Security Standard (PCI DSS) compliances.

The Asia Pacific to hold the highest market share during the forecast period

Technological advancements such as cloud, 5G, and IoT have led Small and Medium-sized Enterprises (SMEs) and large enterprises in the Asia Pacific (APAC) region to largely rely on MSS. Also, government regulations, cybersecurity incidents, and cloud technology adoption are driving the adoption of MSS in the region.

Major vendors offering MSS include IBM (US), AT&T (Texas), NTT Data (Japan), Secureworks (US), DXC Technology (US), BT Security (UK), Atos (France), Infosys (India), Verizon (US), Cognizant (US), Cipher Security (US), Wipro (India), Accenture (Ireland), Optiv Security (US), Trustwave (US), The Herjavec Group (Canada), Capgemini (France), CenturyLink Managed Security Services (US), Kudelski Security (Switzerland), and Nuspire (US). The study includes an in-depth competitive analysis of these key market players, along with their profiles, recent developments, and key market strategies.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Market
4.2 Managed Security Services Market, by Type, 2020
4.3 Market, by Deployment Mode, 2020
4.4 Market, Market Share of Top Three Industry Verticals and Regions, 2020
4.5 Top Three Verticals
4.6 Market Investment Scenario

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Stringent Government Regulations to Increase Adoption of Managed Security Services Solutions
5.2.1.2 Surge in Trends such as BYOD, CYOD, and WFH
5.2.1.3 Rising Security Breaches and Sophisticated Cyberattacks Across Enterprises, Resulting in Financial and Reputational Losses
5.2.2 Restraints
5.2.2.1 Lack of Trust Among Enterprises in Giving Full Control of Their System Architecture to Managed Security Service Providers
5.2.3 Opportunities
5.2.3.1 Rising Adoption of Cloud Technology and IoT Devices Among Enterprises
5.2.3.2 Growing Demand for Robust and Cost-Effective Security Services Among Enterprises to Monitor and Manage Security Events
5.2.4 Challenges
5.2.4.1 Lack of Skilled Security Expertise
5.3 Regulatory Implications
5.3.1 General Data Protection Regulation
5.3.2 Payment Card Industry-Data Security Standard
5.3.3 Health Insurance Portability and Accountability Act
5.3.4 Gramm-Leach-Bliley Act
5.3.5 Sarbanes-Oxley Act
5.3.6 Soc2
5.4 Use Cases
5.5 Value Chain
5.6 Ecosystem

6 COVID-19 Impact On Managed Security Services Market

7 Managed Security Services Market, by Type
7.1 Introduction
7.2 Managed Identity and Access Management
7.3 Managed Antivirus/Antimalware
7.4 Managed Firewall
7.5 Managed Risk and Compliance Management
7.6 Managed Vulnerability Management
7.7 Managed Security Information and Event Management
7.8 Managed Intrusion Detection System/Intrusion Prevention System
7.9 Managed Unified Threat Management
7.10 Managed Encryption
7.11 Others

8 Managed Security Services Market, by Deployment Mode
8.1 Introduction
8.2 On-Premises
8.3 Cloud

9 Managed Security Services Market, by Organization Size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises
9.3 Large Enterprises

10 Managed Security Services Market, by Vertical
10.1 Introduction
10.2 Banking, Financial Services and Insurance
10.3 Government
10.4 Retail
10.5 Healthcare
10.6 Information Technology
10.7 Telecom
10.8 Utilities
10.9 Manufacturing
10.10 Others

11 Managed Security Services Market, by Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Middle East and Africa
11.6 Latin America

12 Competitive Landscape
12.1 Overview
12.2 Competitive Leadership Mapping
12.2.1 Visionary Leaders
12.2.2 Innovators
12.2.3 Dynamic Differentiators
12.2.4 Emerging Companies
12.3 Ranking of Key Players

13 Company Profiles
13.1 Introduction
13.2 IBM
13.3 AT&T
13.4 NTT Data
13.5 Secureworks
13.6 DXC Technology
13.7 BT Security
13.8 Atos
13.9 Infosys
13.10 Verizon
13.11 Cognizant
13.12 Cipher Security
13.13 Wipro
13.14 Accenture
13.15 Optiv Security
13.16 Trustwave
13.17 The Herjavec Group
13.18 Capgemini
13.19 Centurylink Managed Security Services
13.20 Kudelski Security
13.21 Nuspire
13.22 Right to Win

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