05-15-2018 11:52 AM CET - Media & Telecommunications

Managed Security Services Market is Projected to Grow at a CAGR of 13.8% by 2025

Press release from: Data Bridge Market Research
Data Bridge Market Research
Data Bridge Market Research

Advancements in technologies such as BYOD and enterprise mobility have also intensified the sophistication of attacks on digital devices, such as computers, laptops, and smart phones. A majority of the business and personal transactional activities are performed electronically, wherein deals are performed over emails, and the confidential data is saved on personal address books and hard drives. Hence, the security services of these solutions have become the utmost priority for enterprises to protect their confidential data from any kind of cyber threats.

The global managed security services market accounted for USD 20.92 billion in 2017 and is projected to grow at a CAGR of 15.1% the forecast period of 2018 to 2025.

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The key players in the global managed security services market are Verizon Communications, IBM Corporation, Symantec Corporation, At & T, Dell Secureworks Inc., Deloitte, Cisco Systems Inc., Ericsson, Trustwave Holdings Inc., Accenture PLC, HP Enterprise, and Computer Sciences Corporation, Fortinet, Avaya Inc., BT Group plc, CenturyLink and HPE among others.

Managed security services (MSS) are an umbrella term that envelops capacities. For example, checking patch administration, general observing and overseeing of interruption identification frameworks and firewalls, leading security evaluations and reviews, and gauging and reacting to dangers. Enterprises normally outsource such administrations because of the absence of in-house assets or skill and the requirement for the administration of security after the typical office working hours also. The surge in the quantity of digital lawbreakers and digital assaults has jeopardized the protection of associations. With a specific end goal to secure their own and crucial information, associations are moved to improve their in-house security framework or outsource the managed security services from the best managed security providers. Managed security service providers convey security administrations extending from framework setup through security administration to determining the security dangers preceding their event.

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In a simple way, managed security service is the proficient way to deal with deal with the security needs and wants of any business association. By methods for outsourcing its security offerings to outsider bearers alluded to as oversaw assurance supplier organizations. These administrations are esteem capable, offer proficient assets, group framework, unrivaled wellbeing arrangements and gear with adherence to consistence and administrative prerequisites and 24 x 7 support and following. Managed security services might be presented both by methods for setting up essential secure framework or by means of entire control by utilizing the administration backer from remote area. According to infosecurity, It was found that over half (55%) of global enterprises took one week or less to detect a breach, compared to just 10% last year, while 89% detected within a month. So prevent this, security services within an organization is essential.

Market Overview:
- Rising consciousness for cyber-attacks among organizations.
- The rise in public and private cloud deployment model.
- Increasing investment in IT infrastructure development.
- Increasing number of cyber-attacks with day to day technological advancements.
- Ever-growing complex risk and compliance requirement.
- Threat of rising DDOS attack on cloud service approval
- The global managed security services market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of managed security services market for global, Europe, North America, Asia Pacific and South America.

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