Managed Security Services Market Size Report Predicts Healthy Growth with Demand & Forecasts by 2024-2031

The global managed security services market is anticipated to grow at a CAGR of 13.9 % during the forecast period. Network security is an essential component of an organization's overall security posture. It involves managing and monitoring firewalls to protect the network perimeter, detecting and preventing unauthorized access attempts, and managing VPNs for secure remote access. Additionally, endpoint security solutions such as antivirus, anti-malware, and patch management are important in ensuring that desktops, laptops, and servers are secure. Mobile device security, security information and event management, cloud security, email security, and vulnerability management are also important components of a comprehensive network security strategy. Furthermore, the market's growth is attributed to growing cyber threat environments across the globe. The need for effective cybersecurity measures has increased owing to the proliferation of cyber threats, such as ransomware, targeted assaults, and state-sponsored attacks. It's true for both OT and IT environments. For Instance, in August 2022, Schneider Electric, launched a Managed Security Services (MSS) offering to help customers utilizing operational technology (OT) environments to minimize the increased cyber risk imposed by the demand for connectivity and remote access capabilities.

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Furthermore, advanced persistent threats (APTs) are cyber-attacks that occur over a prolonged period of time and are aimed at a specific target. As these threats require continuous monitoring and advanced detection tools, there is an increased demand for premium services that can protect against such attacks. For instance, in April 2023, Akamai Technologies, Inc. introduced an updated managed security service program and premium service offerings. The new features are designed to help customers in safeguarding their companies from the most advanced attacks 24/7 including proactive monitoring and quick response in the event of a cyberattack.

Global Managed Security Services Market Report Segment

By Type

• Managed IoT Security
• Managed Security Service Providers (MSSPs)
• Telecom Service Provider

By Deployment Type

• On-Premise
• Cloud

By Service Type

• Firewall Management
• Cloud Security
• End-Point Security
• Risk Assessment
• Others (Intrusion Detection and Prevention System (IDPS),Threat Prevention, and
• Distributed Denial of Services)

By Vertical

• BFSI
• Government and Defense
• Retail
• Manufacturing
• Healthcare and Life Sciences
• IT and Telecom
• Others (Food and Beverage, Energy and Utilities, and Manufacturing)

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Managed Security Services Market Report Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• Broadcom, Inc.
• Capgemini Services SAS
• CenturyLink
• Fortra
• Fujitsu Ltd.
• IBM Corp.
• Kivu Consulting, Inc
• Schneider Electric
• Secureworks Inc.
• Trustwave Holdings, Inc.,

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