PUBLISHER: Allied Market Research | PRODUCT CODE: 1070665
PUBLISHER: Allied Market Research | PRODUCT CODE: 1070665
Managed security services (MSS) are third-party service providers of remote monitoring and administration of IT security tasks to efficiently secure enterprises' sensitive data. With the rise of business in terms of size and structure and the use of mobile devices, social media, cloud services, and big data, the mission of information security is getting more difficult. The growing number of security assaults and destructive behaviours perpetrated by organised cybercriminal groups has caused anxiety among businesses across all industries. Furthermore, rise in network infrastructure complexity is proving to be a serious impediment to data security management.
Increase in cybercrime activities, cost effectiveness, and stringent government regulations drive the global managed security services market. In addition, growing trend of mobile devices at workplaces and rise in electronic data fuel the market growth. However, hesitation to share sensitive data restrict the market growth. Moreover, growing awareness about data security, growing importance of e-business, and demand of customized services is expected to offer remunerative opportunities for expansion of the market during the forecast period.
The managed security services market is segmented on the basis of deployment mode, enterprise size, application, industry verticals, and region. The deployment mode segment includes on-premise and cloud. Enterprise size are divided into large enterprises and small & medium-sized enterprises. The application segment includes Managed IPS & IDS, Distributed Denial of Services (DDoS), Unified Threat Management (UTM), Secured Information and Event Management (SIEM), firewall management, endpoint security, and others. The vertical segment includes BFSI, healthcare, manufacturing, retail, telecom & IT, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global managed security services market is dominated by AT&T Intellectual Property, BT Group, Broadcom, Cisco System Inc., Check Point Software Technologies Ltd., DXC Technology Company, SecureWorks Inc., Fortinet Inc., Hewlett Packard Enterprise Development LP, and IBM Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.