Global Cyber Security Managed Services Market Size, Share And Growth Analysis For 2024-2033>
EIN News –
The cyber security managed services market has experienced significant growth in recent years and is expected to continue its strong growth trajectory in the coming years
The market expanded from $13.80 billion in 2023 to $15.27 billion in 2024, with a compound annual growth rate (CAGR) of 10.7%
The growth in the historic period can be attributed to factors such as the rise in cyber threats, increasing digital transformation initiatives, demand for security-related managed services, adoption of managed risk and compliance services, and the growing adoption of cloud computing
Key points:
1) The cyber security managed services market is projected to reach $23.21 billion by 2028, with a CAGR of 11.0% during the forecast period.
2) The growth in the forecast period is driven by a focus on incident response and resilience, increased emphasis on compliance and risk management, growth of managed security, focus on data privacy and protection, and surging demand for digital privacy systems.
3) The rising number of online security threats, due to the growth of connected devices, emerging cyber threats, cryptocurrencies and decentralized finance (DeFi), and software and system vulnerabilities, is expected to propel the growth of the cyber security managed services market.
4) Major players in the market include Microsoft Corporation, Verizon Communications Inc., AT&T Inc., Dell Technologies Inc., Hitachi Ltd., and Accenture plc.
5) Companies are focusing on developing innovative technologies, such as holistic digital protection, to enhance their offerings and attract a larger customer base.
6) The market is segmented by service, security type, enterprise type, and industry, with North America being the largest region in the cyber security managed services market in 2023
The cyber security managed services market is expected to continue its strong growth, driven by the increasing need for organizations to protect their digital assets and maintain regulatory compliance in the face of rising cyber threats and evolving security challenges.
Link: https://www.einnews.com/pr_news/730610623/global-cyber-security-managed-services-market-size-share-and-growth-analysis-for-2024-2033