Global Managed Security Services Market Synopsis

Managed Security Services Market Size Was Valued at USD 32.64 Billion in 2023, and is Projected to Reach USD 76.31 Billion by 2032, Growing at a CAGR of 11.2% From 2024-2032.

Managed Security Services (MSS) refer to outsourced monitoring and management of security devices and systems. MSS providers offer expertise and resources to protect organizations from cyber threats. These services encompass various aspects such as intrusion detection, firewall management, vulnerability scanning, and incident response. MSS typically involves continuous monitoring of networks, servers, endpoints, and other critical infrastructure to detect and mitigate security threats in real-time. Providers employ advanced technologies like Security Information and Event Management (SIEM) systems, threat intelligence, and machine learning algorithms to analyze vast amounts of data and identify potential security incidents.

• The increasing complexity and sophistication of cyber threats have outpaced the capabilities of many organizations to effectively manage their own security. MSS providers offer specialized expertise and advanced technologies to counter these evolving threats, providing a valuable resource for businesses seeking to bolster their defenses.
• The growing adoption of cloud computing and remote work models has expanded the attack surface for cybercriminals, necessitating robust security measures that can adapt to dynamic environments. MSS offer scalable solutions that can protect cloud-based infrastructures and remote endpoints, ensuring comprehensive security across diverse IT environments.
• Regulatory compliance requirements continue to tighten, imposing stringent mandates on organizations to safeguard sensitive data and mitigate security risks. MSS providers help businesses navigate these complex regulatory landscapes by offering tailored security solutions that align with industry standards and regulations.

Managed Security Services Market Trend Analysis

The Increasing Use of Managed Security Services (MSS) is Driven by its Comprehensive Knowledge Base, Economical Methods, And Round-The-Clock Availability.

• The surge in the adoption of Managed Security Services (MSS) stems from its multifaceted advantages that cater to modern cybersecurity needs. MSS offers a holistic approach by amalgamating extensive expertise across various security layers. This comprehensive knowledge base allows businesses to tap into a reservoir of specialized skills and insights, providing a robust shield against an evolving landscape of cyber threats.
• By outsourcing security operations to specialized providers, organizations can access top-tier security measures without bearing the exorbitant expenses associated with maintaining an in-house security infrastructure. MSS providers leverage economies of scale and expertise, delivering high-quality protection at a fraction of the cost, which is particularly appealing for small to medium-sized enterprises striving to fortify their defences within budget constraints.
• The allure of round-the-clock service is pivotal in today's interconnected world where cyber threats loom constantly. MSS operates 24/7, providing continuous monitoring, threat detection, and incident response capabilities. This constant vigilance ensures rapid responses to emerging threats, reducing the window of vulnerability for organizations and bolstering their resilience against sophisticated cyberattacks.

Heightened Need for Strong and Affordable Security Solutions to Oversee Security Incidents

• This heightened need arises from the escalating sophistication of cyber threats, which continuously test the vulnerabilities of organizations. As a result, there's a growing emphasis on finding security services that strike a balance between strength and affordability, ensuring proactive monitoring and swift response to security events.
• The evolving nature of cyber threats underscores the importance of robust security measures that can swiftly identify and contain potential breaches or vulnerabilities. Organizations are realizing the imperative nature of having a proactive and vigilant security infrastructure that not only reacts to incidents but actively anticipates and prevents them. This necessitates security services that offer a comprehensive approach, capable of monitoring security events in real-time while being accessible and financially feasible for businesses of various scales.
• The rising complexity of cyberattacks and the potential financial repercussions of security breaches have heightened the urgency for cost-effective yet potent security solutions. Companies seek services that not only fit their budgets but also deliver value by providing advanced threat detection, incident response, and continuous monitoring without compromising on efficacy.

Managed Security Services Market Segment Analysis:

Managed Security Services Market Segmented on the basis of service type, type, and security type.

By Service Type, Managed SIEM services segment is expected to dominate the market during the forecast period

• Managed SIEM (Security Information and Event Management) services have emerged as a pivotal asset for organizations grappling with the complexities of modern cybersecurity. Their significance lies in their ability to serve as a centralized hub, collating and dissecting security data from diverse sources. This aggregation and analysis enable real-time insights into security events, empowering businesses to detect and counter potential threats with greater efficiency. The escalating demand for Managed SIEM services mirrors the quest among enterprises for comprehensive solutions that offer a bird ' s-eye view of their security landscape, allowing proactive management and swift responses to emerging risks.

By Type, Fully Managed segment held the largest share of 29.4% in 2022

• This segment's prominence underscores the preference among businesses for comprehensive outsourcing of their security operations to specialized providers. Fully Managed services offer end-to-end security management, where the provider assumes responsibility for monitoring, detecting, and responding to security threats, allowing organizations to focus on their core operations without compromising on cybersecurity measures.
• The appeal of the Fully Managed segment lies in its ability to offer a complete security solution, providing round-the-clock surveillance, rapid incident response, and often, tailored security strategies aligned with specific business needs.

By Security Type, Endpoint segment held the largest share in 2022

• The surge in cyber-attacks pinpointing endpoint vulnerabilities has propelled the escalation in demand for robust endpoint security measures. With the paradigm shift toward remote work setups, the landscape has become ripe for cyber threats, as an array of devices connect to corporate networks from disparate locations. This expanded attack surface has underscored the criticality of fortifying these access points against sophisticated threats.
• Endpoint security solutions have stepped into the spotlight, offering a shield against an array of malicious activities such as malware, ransomware, phishing attempts, and more. Their role extends beyond traditional antivirus software, encompassing a suite of tools and strategies to ensure comprehensive protection for devices accessing networks from various environments.

Managed Security Services Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

The U.S. stands out as a global leader in technology adoption, innovation, and cybersecurity investments. Major factors contributing to its dominance include a robust economy, a vast landscape of businesses across various industries, a high awareness of cybersecurity threats, and the need for proactive security measures.

Managed Security Services Market Top Key Players:

• AT&T (US)
• IBM (US)
• DXC Technology (US)
• SecureWorks (US)
• Trustwave (US)
• Proficio (US)
• CrowdStrike (US)
• F5 (US)
• Help Systems (US)
• Lumen Technologies (US)
• Kroll (US)
• Cipher Security (US)
• RSI Security (US)
• TrustNet (US)
• LightEdge (US)
• Virtual Armour (US)
• Lynx Technology (US)
• Nettitude (US)
• Accenture (Ireland)
• Orange Cyberdefense (France)
• Atos (France)
• Fujitsu (Japan)
• Kudelski Security (Switzerland)
• Infosys (India)
• SecurityHQ (UAE)

Key Industry Developments in the Managed Security Services Market:

• In November 2023, Rapid7 chose TruVisor as its exclusive distributor for cybersecurity solutions in the ASEAN and India regions. This partnership aims to enhance their joint customers' cybersecurity capabilities through Rapid7’s security platforms. This strategic collaboration is significant in the growing cybersecurity market in these regions.
• In November 2023, Accenture acquired Innotec Security, a privately held company specializing in cybersecurity-as-a-service, cyber resilience, and cyber risk management, expanding its capabilities and footprint in Spain. Innotec Security was previously owned by parent company Entelgy Group. The acquisition of Innotec Security—which also has a presence in Barcelona, Seville, and the Basque Country—will add 500 cybersecurity professionals to Accenture Security’s workforce of 20,000 professionals globally, making Accenture Security one of the top managed security services (MSS) players in Spain.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. MANAGED SECURITY SERVICES MARKET BY SERVICE TYPE (2016-2030)
   1. MANAGED SECURITY SERVICES MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. MANAGED IAM
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. MDR
   5. MANAGED SIEM
   6. LOG MANAGEMENT
7. MANAGED SECURITY SERVICES MARKET BY TYPE (2016-2030)
   1. MANAGED SECURITY SERVICES MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. FULLY MANAGED
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors and Opportunities
      5. Geographic Segmentation Analysis
   4. CO-MANAGED
8. MANAGED SECURITY SERVICES MARKET BY SECURITY TYPE (2016-2030)
   1. MANAGED SECURITY SERVICES MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. NETWORK
      1. Introduction and Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. CLOUD
   5. ENDPOINT
   6. APPLICATION
9. MANAGED SECURITY SERVICES MARKET BY SEGMENT4 (2016-2030)
   1. MANAGED SECURITY SERVICES MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
10. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
       1. Competitive Positioning
       2. MANAGED SECURITY SERVICES Market Share By Manufacturer (2022)
       3. Industry BCG Matrix
       4. Heat Map Analysis
       5. Mergers & Acquisitions
    2. IBM (US)
       1. Company Overview
       2. Key Executives
       3. Company Snapshot
       4. Role of the Company in the Market
       5. Sustainability and Social Responsibility
       6. Operating Business Segments
       7. Product Portfolio
       8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
       9. Key Strategic Moves And Recent Developments
       10. SWOT Analysis
11. AT&T (US)
12. DXC TECHNOLOGY (US)
13. SECUREWORKS (US)
14. TRUSTWAVE (US)
15. PROFICIO (US)
16. CROWDSTRIKE (US)
17. F5 (US)
18. HELP SYSTEMS (US)
19. LUMEN TECHNOLOGIES (US)
20. KROLL (US)
21. CIPHER SECURITY (US)
22. RSI SECURITY (US)
23. TRUSTNET (US)
24. LIGHTEDGE (US)
25. VIRTUAL ARMOUR (US)
26. LYNX TECHNOLOGY (US)
27. NETTITUDE (US)
28. ACCENTURE (IRELAND)
29. ORANGE CYBERDEFENSE (FRANCE)
30. ATOS (FRANCE)
31. FUJITSU (JAPAN)
32. KUDELSKI SECURITY (SWITZERLAND)
33. INFOSYS (INDIA)
34. SECURITYHQ (UAE)

GLOBAL MANAGED SECURITY SERVICES MARKET BY REGION

34. 1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Service Type
       4. Historic And Forecasted Market Size By Type
       5. Historic And Forecasted Market Size By End Users
       6. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
35. INVESTMENT ANALYSIS
36. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies