Managed Security Services Market Global Size

P e r s i s t e n c e M a r k e t R e s e a r c h
Factors such as increasing cybercrime activities, cost effectiveness, delivering timely and speedy
action against advanced threats, skilled workforce, 24 x 7 monitoring and support, continuous
change in compliance standards and regulations and growing trend of BYOD and mobile devices
at workplace are some of the drivers which are expected to grow global managed security
services market during the forecast period.
However, barriers to entry in the form of scalability, automation and professional expertise act as
major restraints in the global managed security services market. Moreover, there is always a
huge amount of risk associated with outsourcing the critical and sensitive security information of
any organization to the service providers. This also acts as a hindrance to the growth of the
global managed security services market.
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The global managed security services market is segmented on the basis of deployment type,
service type, application type, organization and region. By software type, the market is
segmented into cloud-based software and web-based software. On the basis of application type,
the market is segmented into BFSI, retail, healthcare, telecommunications and others. By service
type, the market is segmented into IPS/IDS, DDoS, threat management, firewall management,
end point security and SIEM. The market is also segmented on the basis of the organization
which includes large enterprises and small and medium enterprises. Key regions covered in the
report are North America, Western Europe, and Asia Pacific excluding Japan, Eastern Europe,
Middle East & Africa, Latin America and Japan.
Demand for cloud-based deployment is expected to grow over the web-based deployment
during the forecast period. The cloud-based deployment market is expected to register a
significantly high CAGR of 20.1% over the forecast period. The growth is attributed to the
flexibility, scalability and easy deployment of the cloud-based platforms.
Managed Security Services is gaining traction in terms of service types in endpoint security,
SIEM and threat management segment. The growing trend of “Bring Your Own device” which
refer to the policy of permitting employee owned devices and mobile devices in the workplace is
driving the major growth of the segment during the forecast period. Moreover, digital and social
Global Managed Security Services Market 2016-2026