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The Global Managed Security Services Market Size is expected to attain a market size of $43.5 billion by 2022, growing at a CAGR of 16.2% during the forecast period.
Managed security service offers a platform for third party vendors specialized in managing networks to handle network security of a company. Network security is outsourced to a specialist partner within the scope of this format, leading to an affordable, yet a reliable and effective alternative, which was otherwise a challenge. Such a business format assures organizations to have a secure environment to conduct transactions and not worry about security breaches. The data and other sensitive information remain safe and free from threats that otherwise are easily open to hacking by cyber criminals.
Based on the application type, the global managed security services market is segmented into Managed Intrusion Prevention System (IPS)Intrusion Detection System (IDS), Distributed Denial of Service (DDoS), Unified Threat Management (UTM), Security Information and Event Management (SIEM), endpoint security and other applications. End point security would witness highest CAGR growth during the forecast period (2016-2022). The verticals covered within the scope of the report covers organizationscompanies ranging from banking, financial services and insurance (BFSI), retail, telecom and IT, healthcare, government manufacturing and other sectors, namely government, aerospace, power and utility. BFSI sector has dominated the managed security services market in terms of revenue contribution in 2015.
Based on the deployment type, the global managed security services market is further segmented across hosted or cloud based deployment and on-premise equipment type. Further, the market is bifurcated into small & medium sized enterprises and large enterprises based on the organization size. Based on region, Managed Security Services market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. North America remained the dominant region in the global Managed Security Services market in 2015. Asia-Pacific would witness highest CAGR during the forecast period (2016-2022).
The report covers the analysis of key stake holders of the Managed Security Services market. Key companies profiled in the report include IBM Corporation, HP Enterprise Company, Dell (SecureWorks) Inc., Cisco Systems Inc., Symantec Corporation, AT&T Inc., Check Point Software Technologies Ltd Intel Corporation and Computer Science Corporation.