Global Managed Security Services Market rise from $32.3 billion in 2020 to $45.8 billion by 2025

The main market factors are anticipated to be rising instances of security breaches and an increasing number of attacks that pose a danger to large and small organizational structures. Potential use cases across verticals have been enhanced by the need to take appropriate measures in advance to protect the overall security posture and technical developments in cloud and IoT.

The global market size of Managed Security Services is expected to rise from $32.3 billion in 2020 to $45.8 billion by 2025, during the forecast period, at a Compound Annual Growth Rate (CAGR) of 8.2 percent.

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Managed security service providers (MSSPs) conduct services either in-house or remotely, typically via the cloud. MSSPs offer a wide range of security services, from setting up infrastructure through security management or incident response. Some managed security service providers specialize in certain areas while others offer full outsourcing of an enterprise’s information security program.

With the largest market size, the Banking, Financial Services, and Insurance (BFSI) vertical is expected to dominate the Managed Security Services Market. MSS is expected to assist the BFSI vertical in protecting the confidentiality of sensitive data, thus assisting in the overall security posture.

Small and medium-sized enterprises (SMEs) and large enterprises in the Asia Pacific (APAC) area have come to depend on MSS as a result of technological developments such as cloud, 5G, and IoT. Government regulations, cybersecurity incidents, and the adoption of cloud technologies are also driving MSS adoption in the area.

The growth of the managed security services industry is expected to be driven by an increase in the number of security breaches and threats that pose a threat to both large and small organisational structures. With the globalisation of business in terms of both size and structure, the task of information security is becoming more complex. Organizations are concerned about the increasing number of security threats and malicious activities perpetrated by organised cyber-criminal groups.

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During the forecast period, the managed security market size is expected to grow due to increased adoption by the BFSI industry. Both banks and financial institutions are required by regulatory requirements to maintain strict data protection in order to protect sensitive citizens' data. Furthermore, these businesses are looking for a reliable data security system to protect their brand image.

Increased cybercrime activity and cost-effectiveness are two factors that are expected to boost the market size for controlled security services. Governments around the world, on the other hand, are developing a slew of new information security legislation that could stifle the demand for controlled security services. In addition, the increasing use of mobile devices in the workplace would generate lucrative opportunities for the industry.

Key Players

• IBM (U.S.A)
• AT&T. (U.S.A)
• NTT Security (Japan)
• SecureWorks (U.S.A)
• DXC Technology (U.S.A)
• BT (U.K.)
• Atos (France)
• Infosys (India)
• Verizon (U.S.A)
• Cognizant (U.S.A)
• Cipher Security (Spain)
• Wipro (India)
• Optiv Security (U.S.A)
• Trustwave (Singapore)
• Herjavec (Canada)
• TCS (India)
• Capgemini (France)
• CenturyLink (U.S.A)
• Kudelski Security (Switzerland)
• Nuspire (U.S.A)

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