Global Managed Security Services Market is valued USD 18.08 billion in 2016 is anticipated to grow USD 63.01 billion with the compounded annual growth of 14.88% over the forecast period 2018-2025.
New York 4 September 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Managed Security Services market industry is poised to raise USD 63.01 billion by 2025. Rising trends of bringing your own device (BYOD) in organizations, increasing cases of cyber-attacks in enterprises, and strict regulations are the major factors which are driving the growth in the Global Managed Security Services Market. However, rising demands of security package among customers and lack of trust among users about third-party apps are the main constraints that hinder the market growth.
The demand for managed security services is increasing because of the growing acceptance of data analytics and cloud computing by enterprises and organizations. Most of the companies are switching towards outsourcing due to the problem of insufficient capital, lack of IT expert and growing network infrastructure complexities. Specialized vendors or service providers are being opted by organizations and enterprises for security solutions that provide protection from various threats. Some of the latest trends like bring your own device and utilization of cloud are aiding the growth in the managed security services.
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Global Managed Security Services Market Size study, by Type (IDS/IPS, IAM, SIEM, DLP, Antivirus/Anti-Malware, Disaster Recovery, Firewall, Encryption), by Application (Telecom and IT, Healthcare, Government and Defense) and by Regional Forecasts 2018-2025
The industry is seeming to be fairly competitive. Some of the leading market players include IBM, Secureworks, Symantec, Trustwave, Verizon, AT&T, ATOS, Bae Systems, British Telecom (BT), Centurylink, DXC, Fortinet, Fujitsu, NTT Security, Wipro, Accenture and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- The North American region accounted for the significant market share, more than XX% of the total market in 2016.
- The Asia Pacific region will be the highest growing segment with respect to geographical segmentation, the region is likely to grow by XX% CAGR over the forecast period 2018-2025
Bizwit Research & Consulting LLP has considered following segments for the study:
- Intrusion Detection System/ Intrusion Prevention System (IDS/IPS)
- Identity and Access Management (IAM)
- Security Information and Event Management (SIEM)
- Disaster Recovery
- Risk and Compliance Management
- Data Loss Prevention (DLP)
- Telecom and IT
- Government and Defense
- Energy and Utilities
- Banking, Financial Services, and Insurance
- North America
- Asia Pacific
- Latin America
- Rest of the World