Managed Security Services Market 2019: Cyber Security and Malware Protection

Managed Security Services Market: Overview

The rising awareness regarding the benefits these services offer has fueled the demand for managed security services in the global arena. Additionally, the emergence of cloud-based managed security services is likely to boost the global market significantly over the forecast period. However, the reluctance among consumers to share confidential information is projected to limit the growth of this market in the coming years. Based on the modes of delivery, the worldwide managed security services market is classified into the markets for consumer premise equipment (CPE)-based services, cloud-based services, and hybrid services, which is an integration of cloud-based and CPE-based services.

Managed security services offer various applications to the enterprises such as network security, access control, compliance, confidentiality, and risk and vulnerability assessment among others.

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Companies under different industry verticals such as banking and financial services, government, telecom and IT use managed security services in order to offload some of the security threats risks and associated costs. The global managed security services market in 2012 was dominated by the BFSI segment, which accounted for 25.2% revenue share. Companies under BFSI sector are progressively engaging managed security service providers to meet their security requirements. This is due to rise in numbers and complexity of threats, compliance and cost pressures, and lack of internal expertise, in which case outsourcing proves to be a economical and viable option. In 2012, cloud based managed security services held largest market share and are expected to continue to dominate the market over other delivery models, namely consumer premises equipment (CPE) based services and hybrid services, during the forecast period.

The BFSI, telecom and IT, and government and utility sectors emerged as leading end users of managed security services, collectively accounting for a share of 59.2% in 2012. The network security, compliance services, and confidentiality markets held the leading position among application segments with 67.4% of overall market the same year, reports the study.The report also segments the global managed security market regionally into North America, Asia Pacific, Europe, and the Rest of the World. The managed security services market in North America has been the leader among the regional markets and it is likely to maintain its dominance over the forecast period.

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Large number of IT companies and telecom/internet service providers started to venture in managed security services market as part of their services and product portfolio expansion. Some of the key participants in this market include AT&T Inc., Bell Canada Inc., Fujitsu Ltd., IBM Corporation, Trustwave Holdings, Inc., Symantec, Dell SecureWorks Inc., Verizon Communication Inc., Tata Communications Ltd., Hewlett-Packard Co., Wipro Technology Services Ltd., Intergalis AG, Wipro Technology Services Ltd., and CenturyLink, Inc., among others. Among these, players such as HP, IBM, Dell SecureWorks, and EMC, are considered to have dominant position in the market.