What is the global market size of Managed Security Services Market?

Global Managed Security Services Market size was valued at USD 27.47 billion in 2021 and is poised to grow from USD 31.37 billion in 2022 to USD 90.74 billion by 2030, at a CAGR of 14.2% during the forecast period (2023-2030).

Global Managed Security Services Companies

Global Managed Security Services Market Competitive Landscape

Top Player’s Company Profiles in Global Managed Security Services Market

IBM Corporation (US)

Secureworks (US)

AT&T Inc. (US)

Verizon Communications Inc. (US)

Symantec Corporation (US)

Trustwave Holdings Inc. (US)

Wipro Limited (India)

NTT Security Corporation (Japan)

DXC Technology Company (US)

Accenture plc (Ireland)

Cisco Systems, Inc. (US)

Fortinet, Inc. (US)

Optiv Security Inc. (US)

Dell Technologies Inc. (US)

HCL Technologies Limited (India)

BT Group plc (United Kingdom)

Check Point Software Technologies Ltd. (Israel)

BAE Systems plc (United Kingdom)

Tata Consultancy Services Limited (India)

Fujitsu Ltd. (Japan)

Global Managed Security Services Market

FAQs

Global Managed Security Services Market size was valued at USD 31.37 billion in 2022 and is poised to grow from USD 35.82 billion in 2023 to USD 103.64 billion by 2031, at a CAGR of 14.2% during the forecast period (2024-2031).

Global Managed Security Services (MSS) Market is dynamic and characterized by the presence of numerous companies offering a range of security services and solutions. These companies compete based on factors such as technology innovation, service offerings, industry expertise, global reach, and customer satisfaction. Some key players in the MSS market have established themselves as leaders in the MSS market through their extensive service portfolios, strong customer relationships, and continuous investments in research and development. They offer a wide range of managed security services, including threat monitoring and detection, vulnerability management, incident response, compliance management, and security consulting. In addition to these established players, there are also several emerging and niche players in the MSS market, providing specialized services and catering to specific industry verticals or geographic regions. The market is also witnessing collaborations, partnerships, and acquisitions as companies strive to enhance their capabilities, expand their market presence, and offer comprehensive security solutions to their clients. 'IBM Corporation (US)', 'Secureworks (US)', 'AT&T Inc. (US)', 'Verizon Communications Inc. (US)', 'Symantec Corporation (US)', 'Trustwave Holdings Inc. (US)', 'Wipro Limited (India)', 'NTT Security Corporation (Japan)', 'DXC Technology Company (US)', 'Accenture plc (Ireland)', 'Cisco Systems, Inc. (US)', 'Fortinet, Inc. (US)', 'Optiv Security Inc. (US)', 'Dell Technologies Inc. (US)', 'HCL Technologies Limited (India)', 'BT Group plc (United Kingdom)', 'Check Point Software Technologies Ltd. (Israel)', 'BAE Systems plc (United Kingdom)', 'Tata Consultancy Services Limited (India)', 'Fujitsu Ltd. (Japan)'

The growing frequency and sophistication of cyber-attacks are driving the demand for managed security services. Organizations are facing various threats such as data breaches, ransomware attacks, and insider threats. This has led to a greater need for advanced security measures and expertise to protect sensitive data and critical infrastructure. For example, the rise in ransomware attacks like the Colonial Pipeline incident in 2021 highlighted the need for robust managed security services to prevent and respond to such incidents.

Cloud-based Managed Security Services: The adoption of cloud computing and the shift towards cloud-based security services are significant trends in the MSS market. Cloud-based MSS provides organizations with scalability, flexibility, and easy deployment without the need for significant infrastructure investments. It enables organizations to leverage advanced security tools and techniques, such as cloud-based threat intelligence and machine learning-based security analytics. The trend towards cloud-based MSS is driven by the need for agility, cost-effectiveness, and the ability to defend against evolving cyber threats.

North America dominated the global MSS market, fueled by its mature cybersecurity ecosystem, technological advancements, and high awareness of the importance of data security. The region boasts a robust infrastructure, strong regulatory frameworks, and a large pool of MSS providers. Leading companies like IBM Security and Symantec (now part of Broadcom) have established a strong presence in this region. North America holds a substantial market share, accounting for approximately 40% of the global MSS market.

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Global Managed Security Services Market Size, Share, Growth Analysis, By Deployment Type(Cloud-based and on-premises), By Organization Size(Small and medium-sized enterprises (SMEs) and large enterprises) - Industry Forecast 2024-2031

Global Managed Security Services Market Competitive Landscape

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Global Managed Security Services Market Size, Share, Growth Analysis, By Deployment Type(Cloud-based and on-premises), By Organization Size(Small and medium-sized enterprises (SMEs) and large enterprises) - Industry Forecast 2024-2031

Global Managed Security Services Market Competitive Landscape

Global Managed Security Services Market Report Snapshots

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What is the global market size of Managed Security Services Market?

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