Managed Security Services Market to Be Worth $75.1 Billion by 2030 | Herald Keeper
– Meticulous Research
The managed security services market is projected to reach $75.1 billion by 2030, with a CAGR of 18% from 2023 to 2030.
Managed security services (MSS) involve monitoring and managing security devices, systems, and software-as-a-service (SaaS) applications.
The market growth is driven by factors such as the increasing adoption of managed security services in the BFSI sector, the rise in cybercrimes and ransomware attacks, the trend of BYOD in enterprises, and government initiatives promoting the adoption of managed security services.
However, the market also faces challenges due to the lack of trust among enterprises in handing over control of their system architecture to third-party service providers.
Opportunities for growth in the market include the rising demand for advanced cybersecurity measures and the adoption of cloud-based solutions among SMEs.
The market is segmented based on service type, security type, organization size, and sector.
In terms of service type, the managed detection and response segment is expected to account for the largest share, while the managed identity and access management segment is projected to register the highest CAGR.
Based on security type, network security is expected to hold the largest market share, and cloud security is anticipated to have the highest CAGR.
Large enterprises are the major adopters of managed security services, but the small & medium enterprises segment is expected to grow at a higher CAGR.
The BFSI sector is the largest segment in terms of market share, while the healthcare sector is projected to have the highest CAGR.
Geographically, North America is the leading region in the market, with a focus on developing advanced threat detection services.
Asia-Pacific is expected to have the highest growth rate, driven by infrastructure growth, increasing cybercrimes, and growing awareness about managed security services in the region.
Key players in the market include IBM Corporation, Secureworks, AT&T Inc., NTT Corporation, Trustwave Holdings, Atos SE, CrowdStrike Holdings, and Fortinet, among others.
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