Managed Security Services Market may reach to $46.4 billion by 2025
Browse 120 market data Tables and 43 Figures spread through 214 Pages and in-depth TOC on "Managed Security Services Market”
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The managed identity and access management segment to hold a larger market size during the forecast period
MSS are proactive security measures tailored according to the need and ever-evolving security landscape of organizations. These services include continuous monitoring and analysis, advanced technology, network assessment, and application and security specialists to advice stakeholders in organizations. Managed Identity and Access Management (IAM) helps in driving automation, managing consumer identities, and establishing a risk-based approach, among others. Some of the companies are integrating technologies such as robotics with IAM. Single Sign-on (SSO) and Multi-Factor Authentication (MFA) are the two most common systems used in IAM. Hence, the managed IAM segment is expected to be a larger segment during the forecast period.
The healthcare vertical to be the fastest-growing vertical during the forecast period
The Banking, Financial Services, and Insurance (BFSI) vertical is expected to dominate the MSS market with the largest market size, while the healthcare vertical is the fastest-growing vertical during the forecast period. MSS are expected to help the BFSI vertical in keeping the confidentiality of sensitive data, which will, in turn, help in maintaining the overall security posture. The biggest advantage of using MSS in the BFSI vertical is 24*7*365 monitoring, which results in immediate incident response and remediation in case of a security breach. The BFSI vertical is very careful about the security of the sensitive data of its customers. Hence, for enhancing the protection of online services from cyberattacks, companies operating in the BFSI vertical are adopting MSS . In the healthcare vertical, MSS such as Medical Device Penetration Testing, Network Segmentation for Medical Equipment, Device Inventory and Risk Analysis, and Medical Device Risk Assessments will play an integral role in securing entities related to patients as well as hospital data. Moreover, MSS also helps healthcare organizations comply with stringent Health Insurance Portability and Accountability Act (HIPAA) and Payment Card Industry Data Security Standard (PCI DSS) compliances.
Asia Pacific to hold the highest market share during the forecast period
Technological advancements such as cloud, 5G, and IoT have led Small and Medium-sized Enterprises (SMEs) and large enterprises in the Asia Pacific (APAC) region to largely rely on MSS. Also, stringent government regulations on adopting security measures, cybersecurity incidents, and cloud technology adoption are driving the adoption of MSS in the region.
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The major vendors covered in the MSS market include IBM (US), AT&T (US), NTT Data (Japan), Secureworks (US), DXC Technology (US), BT Security (UK), Atos (France), Infosys (India), Verizon (US), Cognizant (US), Cipher Security (US), Wipro (India), Optiv Security (US), Trustwave (US), The Herjavec Group (Canada), Cognizant (US), CenturyLink Managed Security Services (US), Kudelski Security (Switzerland), and Nuspire (US).
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