Global Managed Security Services Market Size was estimated to grow from USD 19.05 Billion in 2017 and is projected to cross value of USD XX. XX Billion by 2025, at a compound annual growth rate (CAGR) of 16.2% during the forecast period According to latest study conducted by our analysts and industry experts.
Global Managed Security Services Market Growth Opportunities (Revenue, Growth) By 2017-2025
Managed Security services are the type of network security settings, which are basically provided by the various service providers. Managed security services (MSS) are also considered the systematic approach to managing an organization's security needs. The services may be conducted in-house or outsourced to a service provider that oversees other companies' network and information system security. Functions of a managed security service include round-the-clock monitoring and management of intrusion detection systems and firewalls, overseeing patch management and upgrades, performing security assessments and security audits, and responding to emergencies. Functions of a managed security service include round-the-clock monitoring and management of intrusion detection systems and firewalls, overseeing patch management and upgrades, performing security assessments and security audits, and responding to emergencies.
Managed Security Services market is estimated to grow at a CAGR of 16.2% from 2017-2025. The market is expected to grow at a faster pace during the forecast period. The Managed Security Services market is primarily driven by increased demand of the MSS by stringent government policy, and need for the safety from the cyber-attacks to various enterprises. In addition, the lower implementation cost of these MSS would also augment the market growth in the coming years.
Furthermore, the managed security service providers have emerged out be profitable options, which has helped the businesses in protecting themselves from the cyber-attacks, which has gained expectance for these service providers. Hence, the increasing acceptance and wide range of products offered by the service providers to influence the market growth during the forecast period. On the other hand, the increasing number of partnership between the service providers, and the rising need for globalizing the business to also boost the managed security systems market.
Based on the methods type, the Managed Security Services market is segmented visual inspection, surface inspection, volumetric inspection, and others. Similarly, the managed security services is also segmented on the basis of service type, which includes inspection services, equipment rental services, training service and calibration service.
On the basis of end use, Oil and Gas, Aerospace, Banking, Financial Service, and Insurance, Telecom & IT, Healthcare, Manufacturing, Retail, and Others. Banking, Financial Service, and Insurance (BSFI) is the dominating segment in terms of revenue and market share during the forecast period.
North America to contribute the largest market share in this industry, owning to the presence of the key players in this region, and continuous advancement by these players for various innovations in the packaging. Moreover, North America is considered to be the fastest growing market owning to the increasing processing industry, and favorable government scenario.
Global Managed Security Services Market Size, Share Analysis By Region 2017
Asia Pacific is expected to favor the growing Managed Security Services market demand due to increase product development and collaboration between the players, and increasing need for cyber security. This is done by providing high incentives in several countries including China and India.
Managed Security Services Market: Secondary Research
To recognize and collect authentic and market-oriented information crucial for the research study, several secondary sources have been approached and referred. Press releases, white papers, companies annual reports, investor presentations, and articles present on trustworthy websites, databases, and certified publications are some of the significant secondary research sources that have been used to prepare the report. The data collected as secondary data have been obtained from various reliable journals and associations such as Smart Ticketing Alliance, Association of Professional Social Compliance Auditors, General Service Administration, Department of Transportation, and Association for Intelligent Transport Systems to reach to the market numbers or size. The data obtained through secondary sources has been validated through primary research.
Managed Security Services Market: Primary Research
For conducting primary research, several primary sources of the demand as well as supply sides have been approached and interviewed for obtaining quantitative and qualitative information crucial for the report. Vice Presidents, CEOs, technology directors, Product Managers, Marketing Directors and other executives of giant market players and organizations operating in managed security services market are included as primary sources of the supply side.
After performing comprehensive engineering of managed security services market (which includes market size estimations, calculations regarding market statistics, market forecasting, data triangulation, and market breakdown), detailed and vast primary research has been carried out to collect information along with verifying and validating the significant and critical market numbers arrived at.
Major players operating in global Managed Security Services market include BM Corp., HP, Dell SecureWorks, Cisco Systems Inc., Symantec, AT&T, BT Group, Verizon, Symantec Corporation, Dell Secureworks Inc., Deloitte, Ericsson, Trustwave Holdings Inc., Accenture PLC, HP Enterprise, and Computer Sciences Corporatio
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