Chicago, Feb. 09, 2023 (GLOBE NEWSWIRE) -- The global Managed Security Services Market size is expected to grow from an estimated value of USD 27.7 billion in 2022 to 49.6 billion USD by 2027, at a Compound Annual Growth Rate (CAGR) of 12.3% from 2022 to 2027, according to a new report by MarketsandMarkets™.
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406 - Tables
54 - Figures
347 - Pages
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Scope of the Report:
| Report Metrics | Details |
| Revenue Forecast Size Value in 2027 | US$ 49.6 billion |
| Market Value in 2022 | US$ 27.7 billion |
| CAGR | 12.3% from 2022-2027 |
| Market Drivers | Growing adoption of Managed Security Services due to multi-layered expertise, cost-effective approach and 24*7 service |
| key Market Opportunities | Growing demand for robust and cost-effective security services to monitor security events |
| Market size available for years | 2016–2027 |
| Base year considered | 2021 |
| Forecast period | 2022–2027 |
| Forecast units | Value (USD) |
| Regional Segmentation | Service Type, Type, Security Type, Organization Size, Vertical, and Region |
| Geographies covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Major Vendors covered | IBM (US), AT&T (US), NTT (Japan), Accenture (Ireland), DXC Technology (US), SecureWorks (US), Trustwave (US), Atos (France), Orange Cyberdefense (France), Fujitsu (Japan), Kudelski Security (Switzerland), Proficio (US), CrowdStrike (US), F5 (US), HelpSystems (US), Capgemini (France), Infosys (India), Lumen Technologies (US), Kroll (US), Cipher Security (US), RSI Security (US), SecurityHQ (UAE), TrustNet (US), LightEdge (US), VirtualArmour (US), Lynx Technology (US), Nettitude (US), Nokia Networks (Europe), Teceze (US), Cyflare (US), Ascend Technologies (US), Avertium (US), and DigitalXRAID (US) |
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Trend: AI and ML in Managed Security Services
Artificial intelligence is a branch of computer science that deals with building machines that can perform tasks such as problem-solving, reasoning, and analysis related to human intelligence. It has transformed the way data is interpreted and analysed. AI collects information from various resources and enables the management to derive results from the collated data. AI can assist managed service providers with automated solutions to business requests. It can also help clients in deciding the best fit for their organization.
Machine learning is a branch of artificial intelligence. It supports businesses by extracting insights from raw data and solving complex business problems. Machine learning can be beneficial in the managed service domain. It can leverage predictive analytics for real-time insights and enhance the customer experience for MANAGED SECURITY SERVICES vendors. For instance, Darktrace (UK) has enhanced its flagship AI cybersecurity platform with 70 additional machine learning models and over 80 new features. Machine learning is used to make thousands of ‘micro-level’ decisions in the background as part of Darktrace’s autonomous response technology called Antigena.
Trend: Big Data and Analytics in Managed Security Services
Big data and analytics drive meaningful analysis for a large amount of data related to market trends, consumer preferences, and other forms of information, which can be utilized for informed decision-making. MANAGED SECURITY SERVICES can benefit from big data and analytics by deriving meaningful insights from available data. Most companies collect different data sets, which is an important tool for business growth. Organizations need to analyze these datasets and derive actionable insights. These datasets need protection with advanced skillsets. Big data can assist MANAGED SECURITY SERVICES vendors in collecting large chunks of data and converting them into actionable insights. Analytics can be handy with past records and can suggest the right fit of capabilities for a client based on their requirements.
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Opportunity: Increased Usage of Cloud Technology and IoT Devices in Enterprises
IoT is a system of interrelated computing devices and machines that can transfer data over a network without the need for human-to-human or human-to-machine interaction. Along with the rapid development of IoT, security concerns for IoT have also increased. As a greater number of machines are connected to a single network, it makes them vulnerable to cyberattacks. For instance, in the automobile sector, companies are focusing on developing independent and self-driving cars, but as the dependency of cars on software increases, they will become more vulnerable to cyberattacks. IoT is the future; however, as IoT becomes more widespread, more important systems will be vulnerable to malware attacks and compromised. MANAGED SECURITY SERVICES can keep enterprises informed about potential cyberattacks on IoT devices by continuously monitoring cyber threat scenarios, thus helping them in taking preventive measures.
Key Players
Major vendors in the global Managed Security Services Market include IBM (US), AT&T (US), NTT (Japan), Accenture (Ireland), DXC Technology (US), SecureWorks (US), Trustwave (US), Atos (France), Orange Cyberdefense (France), Fujitsu (Japan), Kudelski Security (Switzerland), Proficio (US), CrowdStrike (US), F5 (US), HelpSystems (US), Capgemini (France), Infosys (India), Lumen Technologies (US), Kroll (US), Cipher Security (US), RSI Security (US), SecurityHQ (UAE), TrustNet (US), LightEdge (US), VirtualArmour (US), Lynx Technology (US), Nettitude (US), Nokia Networks (Europe), Teceze (US), Cyflare (US), Ascend Technologies (US), Avertium (US), and DigitalXRAID (US).
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