Managed Security Services Market Growth is Driven by Growing Occurrence of Cyber-attacks in IT Infrastructure and Rising BYOD Trends Among Organizations: Radiant Insights, Inc.

Managed Security Services Market Growth is Driven by Growing Occurrence of Cyber-attacks in IT Infrastructure and Rising BYOD Trends Among Organizations: Radiant Insights, Inc.

PR Newswire

SAN FRANCISCO, December 13, 2018

SAN FRANCISCO, December 13, 2018 /PRNewswire/ --

Global Managed Security Services Market is expected to grow at a significant CAGR 6.65% during the period 2018-2022 as the scope and its applications are rising enormously across the globe. Managed Security Services (MSS) is termed as a systematic method to manage an administration's security needs. The services may be held outsourced or in house to a service provider that supervises the other companies' information and network system security. Its functions comprise responding to emergencies, round-the-clock monitoring and management of intrusion detection systems and firewalls, performing security assessments and security audits, and overseeing patch management and upgrades. The factors that are playing a major role in the growth of Managed Security Services Market are growing occurrence of cyber-attacks in IT infrastructure, strict government policy, and rising BYOD trends among organizations. However, growth in several strict information security regulations by government may restrain overall market in the years to come. Managed Security Services Market is segmented based on type, size, mode, vertical, and region. Managed Cloud Security, Managed Network Security, Managed Application Security, Managed Application Security, and other types could be explored in Managed Security Services in the forecast period. "Others" sector includes managed web security and managed database security. Managed network security sector may account for the significant market share of Managed Security Services and is estimated to lead the overall market in the near future. Large enterprises and SMEs are the organization sizes that could be explored in Managed Security Services in the forecast period. Cloud and on-premises are the deployment modes that could be explored in Managed Security Services in the forecast period. The market may be categorized based on verticals like retail, banking, financial services, and Insurance (BFSI), manufacturing, telecom and IT, energy and utilities, healthcare, and others that could be explored in the forecast period. "Others" sector comprises automotive, education, and media & entertainment.

The BFSI sector may account for the significant market share of Managed Security Services and is estimated to continue its dominance in the upcoming period. This may be because of rising use of mobile and web applications for banking payments and transactions. In addition, healthcare sector is estimated to grow at a significant CAGR in the forecast period. Electric Vehicle AC Charging Station Market is segmented geographically into Americas (North America, South America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), Middle East (UAE, Saudi, and Qatar), and Africa (South Africa). Globally, North America may account for the substantial market share of Managed Security Services in terms of revenue and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be presence of key manufacturers offering MSS in this region. Canada and the United States are the major consumers of Managed Security Services in this region. This may be because of presence of enhanced R&D of security solutions and technologies. Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the fastest pace in the forecast period. The aspects that may be ascribed to the growth comprise acceptance of advanced for growing cases of cyber-attacks on enterprises. The developing countries like India and China are the major consumers of Managed Security Services in the region. The key players of Managed Security Services Market are Wipro, IBM, NTT Security, Secure Works, Fujitsu, Symantec, Fortinet, Trustwave, DXC, Verizon, CIPHER, AT&T, CenturyLink, Atos, BT, and BAE Systems. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.

Access 115 page research report with TOC on "Managed Security Services Market" available with Radiant Insights, Inc. @ https://www.radiantinsights.com/research/global-managed-security-services-market-2018-2022

Global Managed Security Services Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

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