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Cyber Security Managed Services Market Competitive And Growth Analysis 2024 | Microsoft Corporation, Verizon Communications Inc., AT&T Inc., Dell Technologies Inc.
Cyber Security Managed Services Global Market Report 2024
As per the report, the cyber security managed services market size has grown rapidly in recent years. It will grow from $13.80 billion in 2023 to $15.27 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The cyber security managed services market size is expected to see rapid growth in the next few years. It will grow to $23.21 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%.
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Rising Number Of Online Security Threats Growth In Cyber Security Managed Services
The rising number of online security threats is expected to propel the growth of the cyber security managed services market going forward. Online security threats encompass a wide range of malicious activities to compromise the security, integrity, and privacy of information and systems connected to the internet. The rise in online security threats is due to the growth of connected devices, emerging cyber threats, cryptocurrencies and decentralized finance (DeFi), and software and system vulnerabilities. Cybersecurity-managed services play a crucial role in defending organizations against the rising number of online security threats by providing continuous monitoring, advanced threat detection, rapid incident response, and comprehensive security solutions. For instance, in April 2023, according to the Identity Theft Resource Center, a US-based non-profit organization, the number of data breach incidents reported increased by 68% in 2022, with 1,862 breaches reported compared to 1,108 breaches in 2021. Therefore, the rising number of online security threats drives the cyber security managed services market.
Astreya Launches Innovative Cybersecurity Managed Services For Holistic Digital Protection
Major companies operating in the cyber security managed services market are focused on developing innovative technologies, such as holistic digital protection, to enhance their offerings and attract a larger customer base. Holistic digital protection is a comprehensive approach to safeguarding an organization's digital assets, encompassing various security measures, practices, and technologies. For instance, in February 2024, Astreya, a US-based IT solutions provider, launched its Cybersecurity Managed Services. Astreya's cybersecurity managed services offer a comprehensive suite of solutions, including identity management, endpoint protection, and risk management. These services are designed to seamlessly integrate with existing infrastructures, providing robust security layers and proactive defense mechanisms. This new service integrates cutting-edge technologies with expert-driven strategies to ensure strong protection against various cyber threats.
The cyber security managed services market covered in this report is segmented -
1) By Service: Managed Detection And Response (MDR), Incident Management, Managed Vulnerability, Identity And Access Solution, Other Services
2) By Security Type: Network Security, Endpoint Security, Application Security, Other Security Types
3) By Enterprise Type: Small And Medium Size Enterprise, Large Enterprise
4) By Industry: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Telecommunications, Retail, Healthcare, Government, Manufacturing, Travel And Transportation, Energy And Utilities, Other Industries
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Major companies operating in the cyber security managed services market are Microsoft Corporation, Verizon Communications Inc., AT&T Inc., Dell Technologies Inc., Hitachi Ltd., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Honeywell International Inc., Symantec Corporation (Broadcom Inc), Fujitsu Limited, Hewlett Packard Enterprise Development LP, Tata Consultancy Services Limited, Toshiba Corporation, Capgemini SE, Lumen Technologies Inc., DXC Technology Company, BDO Global, Atos SE, Wipro Limited, Palo Alto Networks Inc., Fortinet Inc., Optiv Security Inc., Check Point Software Technologies Ltd, McAfee LLC, Trend Micro Inc., CrowdStrike Inc., Rapid7 Inc., Secureworks Inc., Trustwave Holdings Inc.
Contents of the report:
1. Executive Summary
2. Cyber Security Managed Services Market Report Structure
3. Cyber Security Managed Services Market Trends And Strategies
4. Cyber Security Managed Services Market - Macro Economic Scenario
5. Cyber Security Managed Services Market Size And Growth
…..
27. Cyber Security Managed Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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