Managed Security Services Market - Growth, Trends, and Forecast (2019 - 2024)

The Managed Security Services Market can be segmented by Deployment Type (On-Premise, Cloud), Solution Type (Intrusion Detection and Prevention, Threat Prevention, Distributed Denial of Services, Firewall Management, End Point Security, Risk Assesment), Managed Security Service Provider (IT Services Providers, Managed Security Specialists, Telecom Service Providers), End-user Vertical (BFSI, Government & Defense, Retail, Manufacturing, Healthcare & Life Sciences, and IT & Telecom), and Geography.

Market Snapshot

security managed services market
Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Managed Security Services Market

The managed security services market is expected to witness a CAGR of 15.2% over the forecast period 2019 - 2024.

  • There are some threats which are not currently active, but pose a threat to the enterprise. Threat intelligence includes building a strong front gate against the attacker in the entire network chain. It also provides information and context about attack methodologies, such as the tools used to obscure a break in, how an attack hides inside network traffic or evades detection, the kind of data being stolen or malware being planted, and how an attack communicates back to its controller. 
  • Organizations are putting their reputation at risk by not addressing security awareness. In a Cisco conducted survey of 2000 respondents, 9% said that they do not have any dedicated cybersecurity professionals at their organizations,

Scope of the Report

Managed security services (MSS) are provided by managed security service providers (MSSPs) to manage and monitor the security aspects of their customers’ IT infrastructure. These services often enable the client organizations to reduce expenditure on either customer-premises equipment (CPE) or in-house security specialists while receiving effective security management.

By Deployment Type
On-Premise
Cloud
By Solution Type
Intrusion Detection and Prevention
Threat Prevention
Distributed Denial of Services
Firewall Management
End-Point Security
Risk Assesment
By Managed Security Service Provider
IT Service Providers
Managed Security Specialist
Telecom Service Provider
By End-user Vertical
BFSI
Government & Defense
Retail
Manufacturing
Healthcare & Life Sciences
IT & Telecom
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key Market Trends

Intrusion Detection and Prevention to Dominate the Market

  • An Intrusion Detection and Prevention Software (IDPS) monitors network traffic for signs of a possible attack. When it detects potentially dangerous activity, it takes action to stop the attack. Often this takes the form of dropping malicious packets, blocking network traffic or resetting connections. The IDPS also usually sends an alert to security administrators about the potential malicious activity.
  • The two main contributors to the successful deployment and operation of an IDS or IPS are the deployed signatures and the network traffic that flows through it.
  • According to Insider Threat 2018 report, most insider exploits are detected through IDPS. This indicates the popularity of IDPS and why majority of the vendors are offering this service. 
security managed services market

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Asia-Pacific to Witness the Highest Growth

  • Asia Pacific is a region where great strides are being made in digital transformation.
  • Although it has opened up greater avenues for growth and development, it provides more opportunities for threats to get through and risks for businesses and individuals. Along with this, attackers are getting increasingly sophisticated and are employing cutting-edge techniques to breach organizations.
  • According to Cisco, in the APAC region, companies receive 6 threats every minute but only 50% of alerts are being investigated.
  • Cyber attacks are having far-reaching ramifications that include financial and reputational losses to companies. In Southeast Asia, 51% of all cyber attacks resulted
    in a loss of more than USD 1 million.
security managed services market

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Competitive Landscape

The market is fragmented due to existing giants and many upcoming vendors who provide security services to prevent companies from attacks like network attack, Denial of services or even performing risk assessment. 

  • January 2019 - New Delhi based security services provider Security and Intelligence Services acquired 60% share in a Singapore company for about INR 350 crore. It also acquired 51% stake in Uniq Detective and Security Services in December 2018. The acquisition helped SIS increase its market share by close to 75% in the Bangalore region, one of the fastest growing markets for security services..
  • January 2019 - Verizon Communications closed its acquisition of ProtectWise a Colorado-based company which provides cloud-delivered Network Detection and Response. This acquisition allows Verizon to expand its product offering in Network Detection and Response and bring additional talent to the company. 

Major Players

  1. Verizon Communications
  2. IBM Corporation
  3. Symantec Corporation
  4. At&T
  5. Secureworks, Inc

* Complete list of players covered available in the table of contents below

security managed services market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Need for Threat Intelligence at an Early Stage is Driving the Market Growth

    4. 4.4 Market Restraints

      1. 4.4.1 Unawareness of Security Services is Discouraging the Market Expansion

    5. 4.5 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Deployment Type

      1. 5.1.1 On-Premise

      2. 5.1.2 Cloud

    2. 5.2 By Solution Type

      1. 5.2.1 Intrusion Detection and Prevention

      2. 5.2.2 Threat Prevention

      3. 5.2.3 Distributed Denial of Services

      4. 5.2.4 Firewall Management

      5. 5.2.5 End-Point Security

      6. 5.2.6 Risk Assesment

    3. 5.3 By Managed Security Service Provider

      1. 5.3.1 IT Service Providers

      2. 5.3.2 Managed Security Specialist

      3. 5.3.3 Telecom Service Provider

    4. 5.4 By End-user Vertical

      1. 5.4.1 BFSI

      2. 5.4.2 Government & Defense

      3. 5.4.3 Retail

      4. 5.4.4 Manufacturing

      5. 5.4.5 Healthcare & Life Sciences

      6. 5.4.6 IT & Telecom

    5. 5.5 Geography

      1. 5.5.1 North America

      2. 5.5.2 Europe

      3. 5.5.3 Asia-Pacific

      4. 5.5.4 Latin America

      5. 5.5.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Verizon Communications

      2. 6.1.2 IBM Corporation

      3. 6.1.3 Symantec Corporation

      4. 6.1.4 At&T

      5. 6.1.5 Secureworks, Inc.

      6. 6.1.6 Cisco Systems, Inc.

      7. 6.1.7 Ericsson

      8. 6.1.8 Trustwave Holdings Inc.

      9. 6.1.9 Accenture Plc

      10. 6.1.10 HP Enterprise

      11. 6.1.11 Computer Sciences Corporation

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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