Managed Security Service Market Prophesy over a Period of 2025

Global Managed Security Service Market: Snapshot

Network security services outsourced to third-party service providers are defined as managed security services. A managed security services provider (MSSP) basically is a company that can offer relevant security services to interested businesses. In short, a managed security service provider monitors and manages security of all devices and systems belonging to a company or a business. These systems may be vulnerable to attacks by phishing scams, virus attacks, hackers, and other type of harmful activities. Network security services mainly include virtual private network, managing firewalls, anti-viral scanning, intrusion detection, and several other actions.

Due to a great need of these services, a distinctly managed security service market exists, wherein manufacturing businesses offer quality security services through their operation centers. These services might be provided from an office, or also from residential areas. The service provided could differ in its duration, which could range from a few days to multiple weeks and months. Potential clients usually opt for long-term services as these are mainly available for the best price.

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A dire need for network-based protection again undesirable activities has been primarily driving the global managed security service market. Thus, effectiveness and convenience are two factors positively contributing to the market’s growth. From a long-term perspective, availing network security services can reduce costs needed to be borne for facilitating IT operations, thereby propelling the global managed security service market’s growth. An increase in the use of cloud based services, which can be effectively linked with network security processes is also proving to be beneficial to the market.

Global Managed Security Service Market: Overview

Network security services when outsourced to a third-party service provider is known as managed security services (MSS). A company providing such a service is referred to as a managed security services provider (MSSP). A managed security service provider monitors and manages security of devices and systems. Some of the popular services provided by them include intrusion detection, managed firewall, virtual private network, vulnerability scanning, and anti-viral services.

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Managed security service providers leverage high-availability security operation centers, either from their own in-house facilities or from other data center providers, to bring round-the-clock services. This helps to bring down the number of operational security personnel needed to hire, train and maintain proper security.

Global Managed Security Service Market: Key Trends

Two of the unique perceived benefits of managed security service is the convenience and effectiveness in providing high level of security. This has resulted in their uptake among end users and will continue doing so in the near future as well, thereby stoking growth in the global market. Further, its ability in bringing down the expenditure on IT and enabling quick resolution of problems is also slated work in favor of its market’s growth.

Other factors stoking the market is the soaring uptake of public cloud and the shared responsibility model for security in the cloud. Besides, major dearth of skilled cyber security professionals along with the changing contours of cyber security is also pushing demand in the global managed security service market.

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Global Managed Security Service Market: Market Potential

Among the different end users, the banking, financial services and insurance (BFSI) segment is seeing a rapid change in consumers behaviors which has resulted in massive usage of mobile applications and other online platforms. This has resulted in increased susceptibility to cyber-attacks. In December 2016, for example, the Russian central bank along with other private banks lost US$3 mn in cyber-attacks.

 

Such incidents have necessitated robust security which in turn has driven up demand in the managed security service market. Other end use sectors driving the market are government, healthcare, retail, telecommunication and information technology, energy and utilities, and industrial manufacturing, among others.

At the forefront of driving growth are the market is small and medium businesses that are increasingly ramping up their current business models and infrastructure to stay competitive. In the process they are increasingly taking to managed security services that helps them optimize business processes and enhance operational efficiency within their budgets.

Global Managed Security Service Market: Regional Outlook 

From a geographical perspective, currently North America is a key market. One reason why the market has seen good growth is the presence of many organizations – large, medium, and small – in the economically advanced nations of the U.S. and Canada. In the near future, the market for managed security service is predicted to grow fast on account of rising demand for mobile workforce and proliferating mobile devices and digital technologies.

Moving forward, however, the market is slated to lose some of its sheen because of the powerful emergence of the Asia Pacific market on the back of swift uptake of cloud-based managed security services by enterprises of different sizes.

Global Managed Security Service Market: Competitive Analysis 

The global managed security services market is characterized by stiff competition owing to the presence of a copious number of small and large vendors. In order to bolster their positions further, established players are trying to acquire niche vendors. This would enable them to expand their product portfolio and up market shares. Some of the prominent vendors profiled in the report are IBM Corporation, Hewlett Packard Enterprise Company, Verizon Communications, Inc., AT&T, Inc., Symantec Corporation, and Rapid7, Inc.

Managed Security Service Market Forecast and Value Chain by 2025

Global Managed Security Service Market: Overview

Network security services when outsourced to a third-party service provider is known as managed security services (MSS). A company providing such a service is referred to as a managed security services provider (MSSP). A managed security service provider monitors and manages security of devices and systems. Some of the popular services provided by them include intrusion detection, managed firewall, virtual private network, vulnerability scanning, and anti-viral services.

Managed security service providers leverage high-availability security operation centers, either from their own in-house facilities or from other data center providers, to bring round-the-clock services. This helps to bring down the number of operational security personnel needed to hire, train and maintain proper security.

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https://www.tmrresearch.com/sample/sample?flag=B&rep_id=1940

Global Managed Security Service Market: Key Trends

Two of the unique perceived benefits of managed security service is the convenience and effectiveness in providing high level of security. This has resulted in their uptake among end users and will continue doing so in the near future as well, thereby stoking growth in the global market. Further, its ability in bringing down the expenditure on IT and enabling quick resolution of problems is also slated work in favor of its market’s growth.

Other factors stoking the market is the soaring uptake of public cloud and the shared responsibility model for security in the cloud. Besides, major dearth of skilled cyber security professionals along with the changing contours of cyber security is also pushing demand in the global managed security service market.

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https://www.tmrresearch.com/sample/sample?flag=T&rep_id=1940

Global Managed Security Service Market: Market Potential

Among the different end users, the banking, financial services and insurance (BFSI) segment is seeing a rapid change in consumers behaviors which has resulted in massive usage of mobile applications and other online platforms. This has resulted in increased susceptibility to cyber-attacks. In December 2016, for example, the Russian central bank along with other private banks lost US$3 mn in cyber-attacks.

Such incidents have necessitated robust security which in turn has driven up demand in the managed security service market. Other end use sectors driving the market are government, healthcare, retail, telecommunication and information technology, energy and utilities, and industrial manufacturing, among others.

At the forefront of driving growth are the market is small and medium businesses that are increasingly ramping up their current business models and infrastructure to stay competitive. In the process they are increasingly taking to managed security services that helps them optimize business processes and enhance operational efficiency within their budgets.

Read Comprehensive Overview of Report @

https://www.tmrresearch.com/managed-security-service-market

Global Managed Security Service Market: Regional Outlook 

From a geographical perspective, currently North America is a key market. One reason why the market has seen good growth is the presence of many organizations – large, medium, and small – in the economically advanced nations of the U.S. and Canada. In the near future, the market for managed security service is predicted to grow fast on account of rising demand for mobile workforce and proliferating mobile devices and digital technologies.

Moving forward, however, the market is slated to lose some of its sheen because of the powerful emergence of the Asia Pacific market on the back of swift uptake of cloud-based managed security services by enterprises of different sizes.

Global Managed Security Service Market: Competitive Analysis 

The global managed security services market is characterized by stiff competition owing to the presence of a copious number of small and large vendors. In order to bolster their positions further, established players are trying to acquire niche vendors. This would enable them to expand their product portfolio and up market shares. Some of the prominent vendors profiled in the report are IBM Corporation, Hewlett Packard Enterprise Company, Verizon Communications, Inc., AT&T, Inc., Symantec Corporation, and Rapid7, Inc.

Managed Security Service Market Bolstered by Rising Use of Mobile Apps

San Francisco, California, January 09, 2018: A recently added market study by TMR Research, titled, “Managed Security Service Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” offers crucial information on the market so as to enable success-hungry companies operating in it take timely, appropriate decisions. It banks upon historical and current figures to understand the trajectory of the market. It also studies the competitive dynamics by taking a thorough look at the companies operating in it and by leveraging popular analytical tools.

Managed security services (MSS) is network security services offloaded to a third party. A company offering such a service is known as managed security services provider (MSSP). MSSPs monitor and manage security of systems and devices. Intrusion detection, vulnerability scanning, managed firewall, virtual private network, and anti-viral services are some of the services provided by them.

Managed security service providers help to bring down costs by reducing the need for operational security personnel and the expense of training them. This is because they provide high-availability security operation centers, either from data center providers or from their own in-house facilities that provide services throughout the day.

USPs of managed security services (MSS) are effectiveness and convenience. This, along with rising availability of cloud, has led to their swift adoption by end users. At present, there is an acute shortage of skilled cyber security professionals who are thoroughly abreast of the changing contours of cyber security. This is another factor proving beneficial for the market.

The banking, financial services and insurance (BFSI) sector is at the forefront of driving demand in the market for managed security service. This is because of the swift digitization of the entire sector which has resulted in the use of mobile applications and various online platforms for transferring money and for transactions. This, in turn, has driven up the chances of cyber-attacks, thus upping the need for managed security services (MSS). Apart from BFSI, other sectors generating demand in the market are healthcare, government, telecommunication, retail, information technology, industrial manufacturing, and energy and utilities.

Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa are some of the key regions in the global market for managed security services (MSS). Of them, North America has emerged as a key region that is home to numerous organizations – large, medium, and small. The U.S. and Canada, particularly, are home to most of these organizations. In the next couple of years, the market for managed security service in North America is expected to rise at an impressive pace on account of the increasing practice of remote working trends, massive sales of smartphones and other mobile devices, and digital technologies.

North America’s dominance, however, will most likely be challenged in the foreseeable future by Asia Pacific because of the soaring adoption of cloud-based managed security services by enterprises of various sizes.

The competition in the global market for managed security services is red hot and going forward, it would intensify further. This is because the market is fragmented on account of the presence of numerous players of different sizes – small and large. In order to thrive in such a cutthroat landscape, well-entrenched players are seen focusing on trying to acquire niche vendor to bolster their product portfolio and further increase market shares. Prominent participants operating in the market for managed security services worldwide that have been profiled in the report are Hewlett Packard Enterprise Company, IBM Corporation, AT&T, Inc., Verizon Communications, Inc., Rapid7, Inc., and Symantec Corporation.

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