Managed Security Services Market Highlights:
Market Research Future (MRFR), in its current “Managed Security Services Market” report, offers reliable information on the market drivers and limitations and the influence of key players on the market. An increase in industrial and corporate activities are resulting in the generation of voluminous data. Hence, sectors that are handling sensitive data are responsible for their security.
This is observed to gain considerable traction for the managed security services market 2020. As per MRFR study, the worldwide market of Managed Security Services Market COVID – 19 Impact Analysis to thrive at about 12% across the evaluation period (2015 to 2022) and value at nearly USD 34 billion by 2022.
Major Key Players:
Verizon Communications (U.S.), IBM (U.S.), AT&T (U.S.), CenturyLink (U.S.), HP Enterprises (U.S.), Symantec Corporation (U.S.), Solutionary Inc. (U.S.), Fortinet (U.S.), Dell SecureWorks (U.S.), Trustwave (U.S.), CSC (U.S.), BT Group (UK), and Rapid 7 (U.S.) are some of the major mentions in the MRFR’s list of key players.
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The segmental study of the global managed security services market is based on organization size, service type, end-user, and deployment.
The service type-based segments of the market are DDOS, IPS and IDS, unified threat management, endpoint security, firewall management, and SIEM. An increase in cyber threats and growing cases of cybercrimes are likely to generate numerous scope for the market to expand. The rise in need to protect in-house security providing solutions can cause the service-type segments are likely to influence the market significantly.
SMBs and large enterprises are organization size-based segments of the managed security services market. While large enterprises have to deal with international transactions, SMEs are adopting robust security solutions. These are expected to impel the worldwide managed security services market.
The deployment type-based segments of the managed security services market are hybrid, cloud, and on-premise.
The end-user-based segments of the managed security services market are BSFI, retail, IT or ITES, aerospace and defense, manufacturing, government, healthcare, and others. The BFSI sector deals with sensitive client’s data. Thus, encryption used are strong and reliable. However, the security for a large volume of high importance data requires effective security management solutions. Hence, the BFSI market is expected to make an essential contribution to the expansion of the global managed security services market growth.
In North America, the managed security services market is expected to thrive on the increased cases of cybercrimes. The surge in the adoption of managed security services across different enterprises is expected to leverage the growth of the regional market. The US is likely to hold the pole position in the regional market due to the presence of dynamic service providers in the region. Similar growth inducers are observed in Europe.
Europe managed security services market is likely to capitalize on the rising need to free in-house IT for value-driven work. Thus, a stay put for internal IT from constantly monitoring SIEM data and threats on intelligence feeds can aid them to invest their time in meeting other organizational requirements. Hence, the EU market is expected to gain high profits in the evaluation period. The Asia Pacific managed security services market growth is likely to spur due to rapid industrialization and an increase in the number of companies that are outsourcing security solutions to organizations in APAC.
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