The report titled “Global Managed Security Services (MSS) Market Analysis and Forecast, 2019-2028” assesses the global market based on type, deployment mode, organization size, end use industry, and region. A comprehensive report provides a detailed historical and future market size with a comprehensive market trend analysis. The market share analysis, service network of the top companies, an overview of the competition, strategic imperatives, key end users, potential growth areas, and competition analysis for the target players evaluated in the Global MSS market study.
Market Overview and Dynamics: Increasing cyberattacks and their complexities are augmenting the demand for MSS
The Global MSS market stood at US$ 24.6 Bn in 2021 and is expected to grow at a CAGR of around 15% during the forecast period of 2022-2028. The growing adoption of mobile and wireless devices coupled with the rapid increase in the usage of cloud services and applications is expected to benefit the global MSS market.
Increased use of 5G technology and rising demand for IoT devices across industry verticals will further drive market growth in the forecast period. Modern technologies are more vulnerable to cyberattacks, thus they necessitate high levels of network security, thereby, surging the demand for MSS globally. Businesses and consumers are embracing smart gadgets as global connectivity infrastructure advances at a rapid pace. Furthermore, with the rapid digital transformation of various industries, the demand for cybersecurity solutions is increasing and so is the demand for MSS.
Supportive government policies are also acting as a growth catalyst for the market in recent years. The mega-ambitious campaigns such as Make in India, Digital India, and the Smart Cities Initiatives of the Indian government, which aim to promote indigenous manufacturing in a wide range of industry sectors, are expected to fuel to the demand for MSS in the coming years.
- Based on type, Security Asset Monitoring, and Management (SAMM) constitutes a significant market share owing to the rapid adoption of the message and email security, and Database Security & Disaster Recovery-as-a-service (DRaaS).
- Based on organization size, small and medium enterprises (SMEs) are expected to grow at the fastest rate as demand tends to be higher for threat intelligence, security asset management, etc. among such enterprises.
- Based on end use industry, the IT & Telecommunications industry is expected to constitute a substantial market share in 2021 due to its quick adoption and sophistication of cyberthreats.
Competition Analysis: Regional Players Dominate the Domestic Markets
A large number of global, regional, and local players are present in the global MSS market, which faces intense competition. In order to preserve a competitive advantage in the market, local businesses are developing new, advanced technologies and innovations as the government has introduced MSS market policies. Acquisitions, product launches, and partnerships are the identified industry trend in the Global MSS market. Significant consolidation is expected in the global market during the assessed period 2022-2028. Some of the key developments in the market include -
- In February 2019, Palo Alto is a provider of network security solutions and applications to enterprises, service providers, and government entities and acquired Demisto for US$ 560 million to expand its incident response portfolio.
- In February 2019, Carbonite has acquired Webroot for US$ 618 million in line with its growth strategy to enhance its stronghold in the data protection market by adding Webroot’s MSP channel to its Value-Added-Reseller channel, thereby increasing its overall service offerings to include the endpoint backup and recovery services.
- In May 2019, Orange acquired SecureLink, enabling Orange to strengthen its position in the European cybersecurity industry. The combined entity will explore synergies and provide complex security services needed by its customers globally.
Some of the leading players involved in the development of the MSS market include IBM, Verizon, BT Global Services, AT & T, Atos SE, Hewlett Packard Enterprise, Dell SecureWorks, Symantec, Telefonica, Accenture, HCL Technologies, Swisscom, TATA consultancy services, Arcon, Cipher, Bae Systems, among others.
RationalStat has segmented the Global MSS market on the basis of type, deployment mode, organization size, end use industry, and region.
- By Type
- Security Asset Monitoring and Management (SAMM)
- Security Information & Event Management
- Managed Detection & Response
- Database Security & Disaster Recovery-as-a-service (DRaaS)
- Messaging & Email Security
- Security Consulting & Services
- Risk and Compliance Management (RCM)
- Risk Assessment & Visibility
- Digital Risk Management
- Vulnerability Assessment & Pen Testing
- Security Rating & Risk Analysis
- Security Awareness & Training
- Threat Intelligence, Research, Detection, and Remediation (TIRDR)
- Firewall, Network Analysis & Forensics
- Threat Intelligence
- Fraud & Transaction Security
- Software Defined Networking (SDN)
- Distributed Denial of Service (DDoS) Protection
- Advanced and Emergency Managed Security Services
- Identity Access Management (IAM)
- End Point Security
- Data Encryption, Privacy & Loss Protection
- Security Operations & Incident Response
- Security Asset Monitoring and Management (SAMM)
- By Deployment Mode
- On Premises
- By Organization Size
- Small and Medium Enterprises (SMEs)
- Large Organizations
- By End Use Industry
- IT & Telecommunications
- Healthcare & Lifesciences
- Retail & E-Commerce
- Government & Public Sector
- Travel & Hospitality
- Banking, Financial Services & Insurance (BFSI)
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
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