Cyber Security Managed Services Market on Track for Strong Growth, Estimated to Grow at 10.1% CAGR Through 2029

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How Large Will the Cyber Security Managed Services Market Size By 2025?
In recent years, the market size for managed services in cyber security has significantly expanded. It is predicted to escalate from a value of $15.27 billion in 2024 to $16.89 billion in 2025, with a compound annual growth rate (CAGR) of 10.6%. Factors contributing to growth over the historical period include an increase in cyber threats, the advancement of digital transformation initiatives, the requirement for security-focused managed services, and the rising adoption of managed risk, compliance services, and cloud computing.

How Big Is the Cyber Security Managed Services Market Size Expected to Grow by 2029?
The market size of cyber security managed services is anticipated to experience speedy expansion in the coming years, reaching $24.87 billion by 2029 with a 10.1% compound annual growth rate (CAGR). This projected growth within the forecasting period can be credited to factors such as an accentuated emphasis on incident response and robustness, heightened focus on conformity and risk management, expansion of managed security, commitment to data privacy and safeguarding, as well as amplified demand for digital privacy systems. Major trends predicted throughout this period include the implementation of zero trust security systems, incorporation of progressive technologies and advanced threat detection methodologies, the amalgamation of artificial intelligence (AI) and machine learning (ML), and a rising trend in partnerships.

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Which Key Market Drivers Powering Cyber Security Managed Services Market Expansion and Growth?
The growth of the cyber security managed services market is anticipated to be fueled by an increase in online security threats. These threats entail several harmful activities aimed at disrupting the security, reliability, and confidentiality of information and systems tethered to the internet. The increase in online security threats is attributed to the expansion of connected devices, rising cyber threats, the introduction of cryptocurrencies and decentralized finance (DeFi), as well as susceptibilities in software and systems. Cybersecurity-managed services significantly contribute in safeguarding organizations against the escalating online security threats by offering incessant monitoring, sophisticated threat detection, swift incident response, and all-inclusive security solutions. For example, data from the Identity Theft Resource Center, a non-profit organization based in the US, indicates that the data breach incidents reported experienced a 68% surge in 2022, amounting to 1,862 breaches compared to 1,108 breaches reported in 2021. Hence, the upsurge in online security threats fuels the growth of the cyber security managed services market.

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Which Fast-Growing Trends Are Poised to Disrupt the Cyber Security Managed Services Market?
Companies that are significant players in the market for managed cybersecurity services are concentrating their efforts on the development of cutting-edge technologies. One such technology is holistic digital protection, designed to secure a company's digital assets as a whole by combining a range of security measures, best practices, and technologies. A recent example of this was provided by Astreya, an IT solutions firm based in the US, which rolled out its Cybersecurity Managed Services in February 2024. The suite of solutions offered by Astreya's managed cybersecurity services includes identity management, risk management, and endpoint protection. These were all crafted to merge seamlessly with existing infrastructure, adding solid security layers and proactive defenses. This new offering makes use of the latest technologies and expertise to guarantee effective protection against a variety of cyber threats.

What Are the Emerging Segments in the Cyber Security Managed Services Market?
The cyber security managed servicesmarket 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

Subsegments:
1) By Managed Detection and Response (MDR): Threat Monitoring, Threat Hunting, Incident Response
2) By Incident Management: Incident Detection, Incident Remediation, Incident Recovery
3) By Managed Vulnerability: Vulnerability Scanning, Vulnerability Assessment, Patch Management
4) By Identity and Access Solution: Identity Management, Access Control Management, Authentication Services
5) By Other Services: Security Information and Event Management (SIEM), Cloud Security, Endpoint Protection

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Who Are the Global Leaders in the Cyber Security Managed Services Market?
Major companies operating in the cyber security managed services market are Microsoft Corporation, Verizon Communications Inc., AT&T Inc., Dell Technologies Inc., Hitachi Ltd., accenture* plc, 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.

Which are the Top Profitable Regional Markets for the Cyber Security Managed Services Industry?
North America was the largest region in the cyber security managed services market in 2024. The regions covered in the cyber security managed services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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