"Global Managed Security Services Market – Industry Trends and Forecast to 2030

Global Managed Security Services Market, By Type (Managed Identity and Access Management (IAM), Managed Antivirus/Anti-Malware, Managed Firewall, Managed Risk and Compliance Management, Managed Vulnerability Management, Managed Security Incident and Event Management (SIEM), Managed Intrusion Detection Systems/Intrusion Prevention Systems (IDS/IPS), Managed Unified Threat Management (UTM), Managed Encryption and Others), Deployment Modes (On-Premises and Cloud), Organization Size (Small and Medium-Sized Enterprises (SMEs) and Large Enterprises), Vertical (Banking, Financial Services, and Insurance (BFSI), Government, Retail, Healthcare, IT, Telecom, Utilities, Manufacturing and Others) - Industry Trends and Forecast to 2030.

Data Bridge Market Research analyses that the global managed security services market valued at USD 29,190.62 in 2022 is expected to reach USD 72,068.65 million by 2030, and is expected to undergo a CAGR of 11.96% during the forecast period of 2023 to 2030.

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Managed security service refers to the management of IT security functions by third-party service providers. The major aim behind this is to protect an organization’s crucial information setup against a number of security attacks and malicious practices. Managed security services are effective in continuously monitoring and handling of intrusion detection systems.  

**Segments**

- **Service Type:** The managed security services market is segmented based on service type into managed IAM, managed firewall, managed antivirus/anti-malware, managed risk and compliance management, managed encryption, managed intrusion detection/prevention system, and others. Among these, the managed firewall segment is expected to hold a significant share due to the increasing demand for network security solutions to protect against cyber threats.

- **Organization Size:** Based on organization size, the market is segmented into small and medium-sized enterprises (SMEs) and large enterprises. The SMEs segment is anticipated to witness substantial growth as these organizations are increasingly adopting managed security services to enhance their cybersecurity posture without the need for a dedicated in-house security team.

- **Industry Vertical:** The managed security services market is also categorized by industry verticals such as BFSI, healthcare, government, IT and telecom, retail, manufacturing, and others. The BFSI sector is projected to dominate the market share owing to the high volume of sensitive data and transactions that require robust security measures to prevent data breaches.

**Market Players**

- **IBM Corporation:** IBM offers managed security services that encompass threat intelligence, managed detection and response, and cloud security solutions. The company's extensive experience in cybersecurity and advanced technologies positions it as a key player in the market.

- **Cisco Systems, Inc.:** Cisco provides managed security services that include network security, cloud security, and endpoint security solutions. With a focus on innovation and comprehensive security offerings, Cisco is a prominent player in the managed security services market.

- **Symantec Corporation:** Symantec offers managed security services tailored for enterprises to protect against advanced threats and vulnerabilities. The company's robust portfolio of security products and services solidifies its position as a leading player in the market.

- **Fortinet, Inc.:** Fortinet specializes in delivering integrated and automated cybersecurity solutions through its managed security services. The company's focus on threat intelligence and real-time protection makes it a significant contributor toFortinet, Inc. has established itself as a key player in the managed security services market with its focus on delivering integrated and automated cybersecurity solutions. The company's offerings are designed to provide advanced protection against evolving cyber threats through a combination of threat intelligence and real-time protection mechanisms. This approach resonates well with organizations looking to bolster their security posture in the face of sophisticated cyber attacks. Fortinet's portfolio of managed security services caters to a wide range of industries, including BFSI, healthcare, government, IT and telecom, and manufacturing, addressing the unique security needs of each sector. By offering comprehensive solutions that combine technologies such as firewall, intrusion detection/prevention systems, and encryption services, Fortinet enhances its market position and remains competitive in the rapidly evolving cybersecurity landscape.

IBM Corporation's managed security services encompass a range of offerings, including threat intelligence, managed detection and response, and cloud security solutions. With its extensive experience in cybersecurity and cutting-edge technologies, IBM stands out as a prominent player in the managed security services market. The company's ability to provide tailored security solutions to address the specific needs of diverse organizations has been instrumental in solidifying its market position. IBM's focus on innovation and strategic partnerships further enhances its competitiveness in the market, allowing it to offer holistic security services that cater to the evolving threat landscape. By staying ahead of emerging cyber threats and leveraging its expertise in security operations, IBM continues to be a preferred choice for enterprises seeking robust managed security services to safeguard their digital assets.

Cisco Systems, Inc. is another significant player in the managed security services market, offering a comprehensive suite of security solutions that include network security, cloud security, and endpoint security services. Cisco's emphasis on innovation and investment in cutting-edge security technologies have positioned it as a leading provider of managed security services globally. The company's holistic approach to security, encompassing threat detection, prevention, and response capabilities, aligns well with the evolving security needs of organizations across various industry verticals. Cisco's strong market presence,**Global Managed Security Services Market Analysis:**

- **Segments:**
- **Service Type:** The managed security services market is segmented based on service type into various categories such as managed IAM, managed firewall, managed antivirus/anti-malware, managed risk and compliance management, managed encryption, managed intrusion detection/prevention system, and others. This segmentation allows organizations to choose specific services based on their security requirements, leading to a more customized and comprehensive security approach.
- **Organization Size:** Categorizing the market based on organization size into SMEs and large enterprises enables service providers to tailor their offerings to meet the distinct security needs of different sized businesses. The growing adoption of managed security services by SMEs indicates a shift towards outsourcing security functions to expert providers, ensuring cost-effective and robust cybersecurity solutions.
- **Industry Vertical:** The segmentation by industry verticals like BFSI, healthcare, government, IT and telecom, retail, manufacturing, and others reflects the diverse security challenges faced by each sector. Tailoring managed security services to specific industries ensures targeted security measures that address sector-specific threats, compliance requirements, and data protection concerns.

Market Players' Services:

Global Managed Security Services Market, By Type (Managed Identity and Access Management (IAM), Managed Antivirus/Anti-Malware, Managed Firewall, Managed Risk and Compliance Management, Managed Vulnerability Management, Managed Security Incident and Event Management (SIEM), Managed Intrusion Detection Systems/Intrusion Prevention Systems (IDS/IPS

Key points covered in the report: -

• The pivotal aspect considered in the global Managed Security Services Market report consists of the major competitors functioning in the global market.
• The report includes profiles of companies with prominent positions in the global market.
• The sales, corporate strategies and technical capabilities of key manufacturers are also mentioned in the report.
• The driving factors for the growth of the global Managed Security Services Market are thoroughly explained along with in-depth descriptions of the industry end users.
• The report also elucidates important application segments of the global market to readers/users.
• This report performs a SWOT analysis of the market. In the final section, the report recalls the sentiments and perspectives of industry-prepared and trained experts.
• The experts also evaluate the export/import policies that might propel the growth of the Global Managed Security Services Market.
• The Global Managed Security Services Market report provides valuable information for policymakers, investors, stakeholders, service providers, producers, suppliers, and organizations operating in the industry and looking to purchase this research document.

TABLE OF CONTENTS

Part 01: Executive Summary

Part 02: Scope of the Report

Part 03: Research Methodology

Part 04: Market Landscape

Part 05: Pipeline Analysis

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers and Challenges

Part 13: Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

Part 16: Appendix

Countries Studied:

1. North America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
2. Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
3. Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
4. Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

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