Managed Security Services Market Size, Share, Trend 2023 Opportunities, Top Trends & Forecasts to 2032 | IBM Corporation, HP, Cisco Systems Inc., Dell SecureWorks

Managed Security Services (MSS) refers to the remote monitoring and management of IT security functions by third-party service providers in order to effectively protect the sensitive data of the organizations. The task of information security is becoming more complex with the growth of the business in terms of size and structure, and utilization of mobile devices, social media, cloud services and big data. Rising number of security attacks and malicious practices by organized cyber criminals have been creating concerns among of all sectors of businesses.

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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.

Key Players:, , IBM Corporation, HP, Cisco Systems Inc., Dell SecureWorks, AT&T, Computer Science Corp., Symantec Corp., Fortinet Inc., Check Point Software Technolo

Additionally, increased complexities in network infrastructure and lack of capital and skilled IT professionals are proving to be major hindrances in data security management. In such scenario, the outsourcing of security task to managed security service providers has emerged as a lucrative option for the organizations. Managed security services may either be delivered by setting up necessary security infrastructure on-site in the organization, or completely controlled by the service provider from remote location.

The trend of BYOD adoption at workplaces to improve the productivity by allowing the employee to access corporate data via personal devices has been rising, thereby increasing the need for data security. Lack of capital resources and skilled IT staff has been diverting organizations from in-house security management. Additionally, compliance requirements for data security are stimulating the organizations to outsource the data security tasks. However, reluctance to share sensitive data and varying customer demands regarding security package are the major challenges for the market. Further, the growing awareness and concerns about data breaches would create the opportunities for MSSPs in the future.

The global managed security services market is segmented on the basis of deployment mode, organization size, application, verticals and geography. Application segment include managed IPS/IDS, Distributed Denial of Services (DDoS), Unified threat management (UTM), firewall management, and endpoint security. Deployment mode includes cloud-based and on-premise or customer-premise equipment deployment mode. The organizations are divided into small- and medium-sized businesses and large businesses. Verticals segment includes BFSI, telecom and IT, retail, healthcare, manufacturing sectors and other.

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KEY BENEFITS

This study provides an in-depth analysis of MSS market with current and future trends to elucidate the imminent investment pockets in the market
The report provides information regarding key drivers, restraints and opportunities with impact analysis
Porter's five forces analysis and a SWOT analysis of the key market players are provided to illustrate the business strategies adopted by them
The value chain analysis of the industry provides a clear view of key intermediaries involved and elaborates their roles and value addition at every stage in the chain
The quantitative analysis of the market through 2013-2020 is provided to elaborate the market potential

Key Market Segments:
The market is segmented on the basis of deployment mode, organization size, application, verticals and geography.
Deployment Mode:

Hosted or cloud-based MSS
On-premise or customer-premise equipment (CPE) MSS

Organization Size:

Small- and Medium-sized businesses
Large businesses

Applications:

Managed IPS and IDS
Distributed Denial of Services (DDoS)
Unified threat management (UTM)
Secured information and event management (SIEM)
Firewall management
Endpoint Security
Others

Verticals:

Banking Financial Services and Insurance (BFSI)
Healthcare
Manufacturing
Retail
Telecom & IT
Others

Geography:

North America
Europe
Asia-Pacific
Latin America, Middle East and Africa (LAMEA)

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