Global Managed Security Services Market to see Major Growth with leading key players: IBM, SecureWorks, and Trustwave, Verizon, AT&T, Atos, BAE Systems, BT, CenturyLink, CIPHER, DXC, Fujitsu, NTT Security, and Wipro.

Global Managed Security Services Market Overview:

Managed Security Services (MSS) are used to manage and monitor the security aspects of the IT infrastructure of the companies. These services often allow client organizations to reduce spending on subscriber room equipment or internal security specialists while benefiting from effective security management. The need for intelligence about threats has increased dramatically in many important areas. However, there has been strong demand from the government, BFSI and customer service providers. Many large organizations that operate their own Security Operations Centers (SOCs) review the threat intelligence services offered by experienced managed security service providers (MSSPs). As customers demand more proactive security measures to defend against evolving cyber threats, MSSPs are adopting advanced security analysis platforms to better detect and anticipate potential threats. These new security analysis platforms also incorporate advanced features, such as forensic analysis, response to incidents in complete network systems and endpoints in different environments, for example, On-site, virtual or cloud services. The Global Managed Security Services Market is expected to grow from USD 17.02 Billion in 2016 to USD 33.68 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 14.6% during the forecast period.

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Drivers and restrictions:

The demand for managed security services is expected to be related to a variety of factors, such as the increase in cyber-attacks on the company's IT infrastructure, the growth of BYOD trends among organizations and strict regulations. The distributed denial of service (DDoS) market is mainly related to the increase in the frequency, size and progress of DDoS attacks, with access to easy-to-use tools. Large companies are also concerned about lost productivity and goodwill during attacks, which is a critical factor in the deployment of DDoS protection services. These services are driven by the growing number of mobile devices and IoT that force service providers to update their current defense systems by implementing new and sophisticated solutions provided by suppliers, ensuring the continuity of service to their customers. Several large companies are investing heavily in R&D to develop optimal protection and firewalls against these denial of service attacks. The deployment of internal SIEM by the associations and the threat of increased DDOS attacks in the approval of the cloud service are limiting the market.

Geographical segmentation:

The global market for managed security services has been divided into five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and Latin America. North America, followed by Europe, is considered the largest income-generating region for security service providers managed in 2018.

The main providers of managed security services include IBM (United States), SecureWorks (United States) and Trustwave (U.S). ), Verizon (United States), AT&T (United States), Atos (France), BAE Systems (United Kingdom), BT (United Kingdom), CenturyLink (United States), CIPHER (United States)), DXC (United States) United), Fujitsu (Japan), NTT Security (Japan) and Wipro (India). These players have adopted various strategies, such as new product development, collaborations, partnerships and acquisitions, to expand their presence in the global market of managed security services.

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Scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

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