Managed Security Services Industry worth US$ 61,855.5 Million, Globally, by 2025 at 16.9% CAGR - Exclusive Report by The Insight Partners

"Managed Security Services Industry" study by "The Insight Partners" provides details about the Industry dynamics affecting the Industry, Industry scope, Industry segmentation and overlays shadow upon the leading Industry players highlighting the favorable competitive landscape and trends prevailing over the years.

The managed security services market accounted for US$ 16,857.0 million in 2016 and is expected to grow at a CAGR of 16.9% during the forecast period of 2017-2025 to account for US$ 61,855.5 million by 2025.

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Managed security services have shown to be effective in protecting business internet assets, password files, crucial e-mails, and networks. As a result, managed security services are gaining popularity among businesses of all sizes as they raise their network security spending. Furthermore, clients are increasingly inclined toward securing their data with the help of service providers' trustworthy, effective, and cost-effective managed security solutions. Managed security service market players provide customer/client firms with low-cost, trustworthy, and effective security solutions to protect their sensitive data.
Cost-Effectiveness of Managed Security Services Providers

In the last 8-10 years, data breaches and various sophisticated attacks have expanded substantially to the point that businesses in every industry must ensure their information and network infrastructure security. With growing threats and monitoring system vulnerability, utilizing an in-house or cloud-based security solution is essential in the security monitoring and management process. Due to budget constraints, most firms strive to develop an in-house security infrastructure with just part-time workers. Part-time personnel may lack the requisite skills. Thus, this may not be adequate to assure efficient and effective data protection. As a result, businesses are increasingly turning to managed security services providers to handle their data security needs (MSSP). This security management solution is cost-effective and allows the company to maintain real-time network traffic monitoring by IT security experts. MSSPs provide these services to several clients at once, cutting the cost per client. As a result, managed security services (MSS) are available to businesses of all sizes, fueling the managed security services market.

Service Type-Based Market Insights
There are various types of security services that need to be managed for providing a better security to organizations. The managed security service market, based on service type, is split into threat management, vulnerability management, log management, security information & event management (SIEM), and compliance management. These types deal with various threats and attacks that may affect the confidentiality of an organization and can hamper the reputation of the organization in terms of customer loyalty. Hence, end users emphasize on the procurement of advanced managed security services, catalyzing the managed security services market growth.

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The players operating in the managed security services market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key managed security services market players are listed below:

In September 2021, ATOS started a bug bounty program in conjunction with Intigrit. This service is aimed to provide clients with vulnerability detection and remediation services. Audit, penetration testing, platform report analysis, vulnerability categorization, monitoring, remediation, and managed detection and response services will be provided by an ATOS consultant.
In August 2021, to update network security, IBM increases its Zero Trust strategy capabilities with new SASE services.

Managed Security Services Industry - Company Profiles
AT&T, Inc.; IBM Corporation; Secureworks, Inc.; Trustwave Holdings, Inc.; Verizon Communications, Inc.; Symantec Corporation; Hewlett Packard Enterprise Co.; CenturyLink; NTT Corporation; and British Telecommunications

Key Elements that the report acknowledges:
• Industry size and growth rate during forecast period.
• Key factors driving the "Managed Security Services Industry" Industry.
• Key Industry trends cracking up the growth of the "Managed Security Services Industry" Industry.
• Challenges to Industry growth.
• Key vendors of "Managed Security Services Industry" Industry.
• Detailed SWOT analysis.
• Opportunities and threats faces by the existing vendors in Global "Managed Security Services "Industry.
• Trending factors influencing the Industry in the geographical regions.
• Strategic initiatives focusing the leading vendors.
• PEST analysis of the Industry in the five major regions.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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