Managed Security Services Market to Hit USD 93.72 Billion by 2034, Growing at 12.9% CAGR: Fact.MR Report

According to a new industry report released by Fact.MR, valuation of the global managed security services market is estimated at US$ 27.85 billion in 2024 and is projected to increase at a remarkable CAGR of 12.9% to reach a value of US$ 93.72 billion by the end of 2034.The rising frequency and sophistication of cyber threats, coupled with the increasing adoption of cloud-based solutions, have significantly driven demand for managed security services. These services are preferred over traditional in-house security solutions due to their scalability, cost-effectiveness, and ability to provide real-time threat detection and response.

The importance of managed security services in the cybersecurity industry is gaining momentum due to the growing emphasis on proactive threat management and compliance with stringent regulatory requirements. This demand surge is further fueled by increased cybersecurity budgets in key regions such as the United States, China, Germany, and India. Well-developed IT infrastructure and digital transformation initiatives in these regions enable widespread adoption of managed security services, contributing to positive market growth.

Managed security services find applications across various sectors, including banking, financial services, and insurance (BFSI), healthcare, IT and telecom, retail, and government. These services are implemented for threat monitoring, incident response, vulnerability management, and compliance management, positioning them as a cornerstone of modern cybersecurity strategies.

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"Continuous innovation is critical in the managed security services market. Providers must invest heavily in research and development to stay ahead of evolving cyber threats. Leveraging artificial intelligence, machine learning, and automation is essential to enhancing service efficiency and threat detection capabilities," opines a Fact.MR analyst.

Managed Security Services Market Insights: Key Trends and Growth:

The Fact.MR report highlights strong growth in the managed security services market, projected to more than double by 2035. The rise in cyberattacks, such as ransomware, phishing, and data breaches, alongside the increasing adoption of cloud computing and IoT devices, are key growth drivers. Managed detection and response (MDR), cloud security, and endpoint security services hold significant market shares. Small and medium-sized enterprises (SMEs) are increasingly adopting these services due to limited in-house expertise. North America, particularly the U.S., dominates the market due to advanced cybersecurity infrastructure and regulatory frameworks. Despite challenges such as high service costs and a shortage of skilled professionals, technological advancements and growing awareness of cybersecurity needs are fueling market expansion.

Key Takeaways from the Market Study:

* The global managed security services market is projected to expand at a CAGR of 8.20% from 2025 to 2035.
* The North American managed security services market is expected to grow at a CAGR of 8.90% during the forecast period.
* The United States holds a dominant share of 82.50% of the managed security services market in the North American region.
* China dominates the managed security services market in the East Asian region, valued at US$ 2,150.3 million in 2025.
* The managed security services industry in the United States is expected to grow at a CAGR of 9.30% from 2025 to 2035.
* Based on service type, the managed detection and response (MDR) segment held a 29.50% market share in 2025.
* The BFSI sector dominates the market with a 34.60% share in 2025, based on end users.

Managed Security Services Market Competitive Landscape:

IBM, AT&T, SecureWorks, Trustwave, and Verizon are prominent players in the global managed security services market. These industry leaders allocate substantial resources to research and development to enhance their service offerings. Smaller providers often partner with major players like Fortinet and Cisco to integrate advanced technologies into their solutions. These companies' global reach, robust distribution networks, and continuous innovation in AI-driven threat detection create significant market influence.

Managed Security Services Market Key Companies Profiled:

IBM
AT&T
SecureWorks
Trustwave
Verizona
Fortinet
Cisco Systems
Symantec (Broadcom)
Deloitte
Alert Logic
NTT Security
Check Point Software Technologies
Palo Alto Networks
Rapid7
FireEye (Trellix)
Wipro
Infosys
DXC Technology
BAE Systems

Browse Full Report: https://www.factmr.com/report/managed-security-services-market

Managed Security Services Industry News:

In March 2024, SecureWorks announced the expansion of its Taegis MDR platform, integrating AI-driven analytics to improve threat detection and response times.

In July 2024, Fortinet launched a new managed cloud security service tailored for SMEs, offering cost-effective solutions for hybrid cloud environments.

In May 2024, IBM introduced an AI-powered threat intelligence platform, enhancing its managed security services portfolio with real-time threat correlation capabilities.

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