Global Managed Security Services Market Outlook 2018-2023 - Growing Demand for Integrated and Next-Generation Security Solutions and Services

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May 22, 2018, 07:30 ET

DUBLIN, May 22, 2018 /PRNewswire/ --

The "Managed Security Services Market by Type (Managed IAM, Managed Firewall, Managed DLP, Managed IDS/IPS, Managed Encryption, Managed SIEM, Managed UTM), Security Type, Organization Size, Deployment Mode, Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global managed security services market size is expected to grow from USD 24.05 Billion in 2018 to USD 47.65 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period.

The demand for managed security services is expected to be driven by various factors, such as the increasing instances of cyber-attacks on enterprise IT infrastructure, growing BYOD trends among organizations, and stringent regulations.

The managed security services market has been segmented on the basis of type (managed IAM, managed antivirus/anti-malware, managed firewall, managed risk and compliance management, managed vulnerability management, managed encryption, managed SIEM, managed IDS/IPS, managed disaster recovery, managed UTM, managed DDOS, managed DLP, and others), security type, organization size, deployment type, vertical, and region. The managed encryption services segment is expected to grow at the highest CAGR during the forecast period due to the wide adoption of encryption solutions and services by organizations. The increased adoption and growth of email platforms and the rising cyber threats which threaten the integrity and confidentiality of these platforms are expected to drive the growth of the segment. However, the managed IAM segment is estimated to hold the largest market size in 2018 in the Managed Security Services market, as there is a greater demand for BYOD security solutions in the enterprise segment.

The managed network security segment is estimated to hold the largest market size in 2018, as increasing complexity of threats and attacks, and the emergence of sophisticated cyber criminals are forcing companies to upgrade their security systems constantly and managed security service providers offer solutions for network protection by restricting the device management accessibility to terminals, authorized services, management ports, and protocols.

Managed security services have been deployed across verticals, including, Banking, Financial Services, and Insurance (BFSI), government and defense; telecom and IT, retail, healthcare, energy and utilities, manufacturing, and others (education, media and entertainment, and automotive). The BFSI vertical is estimated to have the largest market size in 2018, due to the growing use of web and mobile applications for banking transactions and payments. However, the healthcare segment is expected grow at the highest CAGR during the forecast period.

The global Managed Security Services market has been segmented on the basis of 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America, to provide a region-specific analysis in the report. North America, followed by Europe, is estimated to be the largest revenue-generating region for managed security service vendors in 2018. This can be attributed to the developed economies, the US and Canada, as there is a high focus on R&D of security technologies and solutions. APAC is expected to be the fastest-growing region in the managed security services market, due to the increasing adoption of advanced technologies that are leading to increasing instances of cyber-attacks on enterprises.

Key Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Research Assumptions and Limitations
2.3.1 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Managed Security Services Market
4.2 Market Share of Top 3 Types and Top 3 Regions, 2018
4.3 Market By Security Type, 2018
4.4 Market By Organization Size, 2018
4.5 Market By Deployment Mode, 2018
4.6 MarketInvestment Scenario
4.7 Market Top 3 Verticals

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Stringent Government Regulations
5.2.1.2 Increasing Sophistication Levels of Cyber-Attacks
5.2.1.3 Growing BYOD Trend Among Organizations
5.2.1.4 Cost-Effectiveness in Implementing Services
5.2.2 Restraints
5.2.2.1 Lack of Trust on Third-Party Applications to Share Sensitive Data
5.2.3 Opportunities
5.2.3.1 Threat Intelligence Sharing to Counter Advanced Attacks
5.2.3.2 Increasing Adoption of Cloud Services Among SMEs
5.2.3.3 Growing Demand for Integrated and Next-Generation Security Solutions and Services
5.2.4 Challenges
5.2.4.1 Lack of Competent Security Professionals to Handle Challenging Environments
5.3 Regulatory Implications
5.3.1 Payment Card Industry Data Security Standard
5.3.2 Health Insurance Portability and Accountability Act
5.3.3 Gramm-Leach-Bliley Act
5.3.4 Sarbanes-Oxley Act

6 Managed Security Services Market, By Type
6.1 Introduction
6.2 Managed Identity and Access Management
6.3 Managed Antivirus/Anti-Malware
6.4 Managed Firewall
6.5 Managed Risk and Compliance Management
6.6 Managed Vulnerability Management
6.7 Managed Security Information and Event Management
6.8 Managed Intrusion Detection System/Intrusion Prevention System
6.9 Managed Disaster Recovery
6.10 Managed Unified Threat Management
6.11 Managed Encryption
6.12 Managed Data Loss Prevention
6.13 Managed Distributed Denial of Service Mitigation
6.14 Others

7 Managed Security Services Market, By Security Type
7.1 Introduction
7.2 Managed Network Security
7.3 Managed Endpoint Security
7.4 Managed Application Security
7.5 Managed Cloud Security
7.6 Others

8 Market By Organization Size
8.1 Introduction
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises

9 Market By Deployment Mode
9.1 Introduction
9.2 On-Premises
9.3 Cloud

10 Managed Security Services Market, By Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.3 Government and Defense
10.4 Telecom and IT
10.5 Healthcare
10.6 Energy and Utilities
10.7 Manufacturing
10.8 Retail
10.9 Others

11 Managed Security Services Market, By Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia Pacific
11.5 Middle East and Africa
11.6 Latin America

12 Competitive Landscape
12.1 Overview
12.2 Market Ranking
12.3 Competitive Scenario
12.3.1 New Service Launches and Service Upgradations
12.3.2 Partnerships, Collaborations, and Agreements
12.3.3 Acquisitions
12.3.4 Business Expansions

13 Company Profiles
13.1 IBM
13.2 Secureworks
13.3 Symantec
13.4 Trustwave
13.5 Verizon
13.6 AT&T
13.7 ATOS
13.8 Bae Systems
13.9 British Telecom (BT)
13.10 Centurylink
13.11 DXC
13.12 Fortinet
13.13 Fujitsu
13.14 NTT Security
13.15 Wipro
13.16 Accenture
13.17 Alert Logic
13.18 Cipher
13.19 Happiest Minds
13.20 HCL
13.21 Hitachi Systems Security
13.22 Optiv Security
13.23 Paladion
13.24 Rapid7
13.25 Unisys

For more information about this report visit https://www.researchandmarkets.com/research/kfrxsb/global_managed?w=5

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