GLOBAL MANAGED SECURITY SERVICE MARKET:TRENDS ANALYSIS AND FORECASTS UP TO 2021
The Global Managed Security Service Market was esti-
mated USD 17.31 billion in 2016 and expected to reach
USD 34.69 billion by the end of 2021, with a CAGR of
14.9% from 2016 to 2021.
High investment is needed to deploy specialist infra-
structure that can offer superior quality enterprise securi-
ty solutions. Managed security services offers systemat-
ic approach to manage organizations security needs
through a new business models that can enable greater
flexibility and ensure higher affordability within. Managed
security service providers offer these carrier grade net-
work security services through fixed monthly payment
plans. The managed security services market is majorly
driven by increasing need for comprehensive, cost-
efficient, flexible and transparent security solution that
can help to enhance threat management, and ensure
policy compliance. Furthermore, growing popularity of
BYOD and CYOD at workplace is also fuelling the posi-
tive market growth. Increasing adoption of managed se-
curity services across large and small enterprises is re-
sult of increasing need to implement security strategy
that can not only facilitate organizations information se-
curity but also provides satisfactory assurance for regu-
latory compliance requirement. However, trust issues
related to third party vendors hinders the market growth.
Cloud is considered as most preferred option for deploy-
ment of managed security solutions. Cloud based de-
ployment offers highest level of flexibility and scalability
to the existing network infrastructure. On other hand,
hybrid deployment is expected to reflect highest CAGR
over the forecast period. This is attributed to ability of
hybrid deployment to offer best of both, cloud and on
premise deployment of security solutions.
The report segments the global managed security ser-
vice market by deployment type, by service, byvertical,
and region. The deployment types include cloud andon-
premises. The service includes distributed denial of ser-
vice (DDOS), log monitoring, managed firewall, man-
aged intrusion detection/prevention system (IDS/IPS),
managed security information and event management
(SIEM), vulnerability management, and among others
(identity access management (IAM), web application
security).The verticals include BFSI, consumer goods
and retail, education, energy and power, government,
healthcare, telecom and IT, and among others.
The report provides regional analysis covering geogra-
phies such as North America, Europe, Asia-Pacific, and
Rest of the World. Currently, North America leads the
global managed security service market followed by Eu-
rope and Asia-Pacific.The managed security service
market in Asia-Pacific is projected to reflect highest
CAGR over the forecast period. The attractiveness of
the managed security service market in the Asia-Pacific
region is result of increasing adoption of BYOD and CY-
OD at workplace and growing need to protect organiza-
tion from targeted cyber-attacks that too in most eco-
nomical way.
Companies Profiled:
The companies covered in the report include Internation-
al Business Machines Corporation, Hewlett Packard En-
terprise, Verizon Communications, AT&T, Symantec
Corporation, CenturyLink, Computer Sciences Corpora-
tions, Solutionary, and among others.
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