Managed Security Services or MSS are considered as the systematic approach to managing an organization’s security needs. This is needed for better security against security contravention and cyber-attacks. Conducted both in-house and outsourced to service provider, this security service oversees other companies’ information system security and network. Main functions of managed security services are overseeing patch management and upgrades, responding to emergencies, round-the-clock monitoring and management of intrusion detection systems and firewalls and performing security audits and assessments. Outsourcing security operations to managed security service providers having core expertise and skilled workforce can improve the quality of protection of managed security services.
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Major factors that drive the growth of managed security services market are rise in digital information generation and increasing trend of being your own devices(BYOD), along with the need to secure it. Due to the rise in complexity and frequency of security breaches and cyber-attacks, organizations are increasingly deploying managed security service providers. This is done to monitor and provide better protection.
The global managed security services market is estimated to witness a strong growth at 15.4% CAGR during the forecast period of 2013 to 2019. By the end of the forecast period the market is predicted to be valued at US$24.12 bn.
Based on applications, the global managed security market is segmented into risk assessment, confidentiality, compliance, business continuity, access control, and network security managed security services market. Among these, confidentiality market, compliance services and network security services collectively account for leading share in the market for managed security services.
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