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Managed Security Services Market 2020 : How top leading companies can make this smart strategy work

02-11-2020 04:22 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Managed Security Services Market

Managed Security Services Market

Executives consider incidents of data thefts and cybercrimes as the greatest threats to their organization's reputation. Lack of capital and skilled IT resources needed to manage the data security are the major hindrances in protecting the information. Managed security services have emerged as lucrative option for delivering security asset monitoring and management, threat intelligence research, detection and remediation, and risk and compliance management solutions on shared basis to multiple clients. The cost-effectiveness and effective data security have been gaining traction for the managed security market.

Growing regulatory compliances regarding protection of citizen's information globally, would stimulate the organizations to maintain the high data-security level. Banking, Financial Services and Insurance (BFSI) and telecom and IT sectors would be frontrunners in employing managed security services. Hospitals and physician clinics are also outsourcing security tasks with growing trend of electronic health records for improving patient safety, productivity and save costs. Rising threats to intellectual property would demand the enhanced security infrastructure in manufacturing industry with time.

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The global managed security services market is expected to reach$29.9billionby 2020, registering a CAGR of 15.8% during 2014-2020.

North American region currently leading the market as the region has stringent regulations regarding information security. Though, North American and European regions are the mature markets, they would continue to maintain their leading position during the forecast period. Asia-Pacific and Middle East markets are gaining momentum with the formation of regulations regarding the data security. Big data analytics would be the critical for market growth across the world.

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Leading Managed Security Services Providers (MSSP) including IBM, Dell Secure Works, HP and Cisco launching advanced and customized security solutions to help the clients in facing sophisticated attacks from organized cyber criminals. Recently, IBM and AT&T have introduced new service including security network infrastructure with advanced threat monitoring and analytics. Delivery of customized solutions as per the organization size and structure would be the crucial factor driving the market.

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Among various data security applications, endpoint security application would grow at the fastest rate, with growing adoption of BYOD policy at workplace. Improvement in production efficiency and enhanced employee satisfaction through utilization of mobile devices for accessing corporate data anytime and anywhere would contribute the growth of BYOD trend. Secured Information and Event Management (SIEM), an emerging technology solution suitable for automatic collection, correlation and analysis of log and alert data, would be the next popular application.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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