Westford,USA, Jan. 04, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest, the escalating frequency and increasing sophistication of cyberattacks have sparked a surging demand for managed security services in the managed security services market. Organizations are grappling with diverse threats, including data breaches, ransomware attacks, and insider risks, all of which pose significant risks to their sensitive data and critical infrastructure.
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Browse in-depth TOC on the "Managed Security Services Market”
- Pages - 157
- Tables – 59
- Figures – 75
The managed security services market is experiencing robust growth driven by several compelling factors. Firstly, the surge in new and ever-evolving cyber threats pushes organizations to seek specialized expertise and solutions to safeguard their digital assets. Secondly, stringent government regulations and compliance requirements are mandating enhanced security measures, prompting businesses to turn to managed security services to ensure they remain compliant.
Prominent Players in Global Managed Security Services Market
- IBM Corporation
- Secureworks
- AT&T Inc.
- Verizon Communications Inc.
- Symantec Corporation
- Trustwave Holdings Inc.
- Wipro Limited
- NTT Security Corporation
- DXC Technology Company
- Accenture plc
- Cisco Systems, Inc.
- Fortinet, Inc.
- Optiv Security Inc.
- Dell Technologies Inc.
- HCL Technologies Limited
- BT Group plc
- Check Point Software Technologies Ltd.
- BAE Systems plc
- Tata Consultancy Services Limited
- Fujitsu Ltd.
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Cloud-Based Segment is Expected to Dominate due to Rising Adoption Rates
Cloud-based deployment mode has established itself as the predominant segment, drawing the keen interest of organizations on a global scale. The cloud-based segment has witnessed extraordinary expansion in its market size and the rate at which it is being embraced within the managed security services market.
The market in North America has firmly established its dominance in the global managed security services market, driven by several key factors. The region benefits from a mature cybersecurity ecosystem characterized by a wealth of expertise, technological advancements, and a heightened awareness of the critical significance of data security.
SME Segment to Lead Market due to the Imperative for Robust Cybersecurity Solutions
SME sector stands out as the fastest-growing segment in the managed security services market. Small and medium-sized enterprises increasingly realize the imperative for robust cybersecurity solutions as they undergo digital transformation and confront a rising tide of cyber threats.
Regional markets in Asia Pacific have emerged as the fastest-growing global managed security services hub, propelled by a convergence of dynamic factors. Rapid digital transformation efforts, the expansion of IT infrastructure, and a surge in cyber threats have collectively fueled this remarkable growth trajectory.
A comprehensive analysis of the major players in the managed security services market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Managed Security Services Market
- Palo Alto Networks and Deloitte recently unveiled an expansion of their existing strategic alliance to deliver enhanced managed security services to their mutual clients in the United States. This collaboration solidifies Palo Alto Networks as a leading cybersecurity technology provider within Deloitte's outcome-based, managed service offerings. The move underscores the commitment of both companies to providing robust cybersecurity solutions to meet the evolving needs of their clients, combining Palo Alto Networks' cutting-edge cybersecurity technology with Deloitte's extensive expertise in delivering comprehensive managed services.
- Alert Logic, a subsidiary of HelpSystems recently announced a significant strategic partnership with TD SYNNEX, a prominent IT distributor and solutions aggregator serving the global IT ecosystem. This collaboration sought to enrich Alert Logic's solutions portfolio with advanced managed detection and response (MDR) capabilities.
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Key Questions Answered in the Global Managed Security Services Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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