What Has Been the Growth of the Cyber Security Managed Services Market So Far?
The cyber security managed services market has seen considerable growth due to a variety of factors.
• The cyber security managed services market has grown steadily in recent years. It will increase from $15.27 billion in 2024 to $17 billion in 2025, at a CAGR of 11.3%.
This growth is driven by rising cyber threats, digital transformation initiatives, the increasing need for security-related managed services, the growing adoption of risk and compliance services, and the wider use of cloud computing.
How Will the Cyber Security Managed Services Market?
The cyber security managed services market is expected to maintain its strong growth trajectory in upcoming years.
• The cybersecurity managed services market is expected to grow rapidly, reaching $25.73 billion by 2029 at a CAGR of 10.9%.
Growth is driven by a focus on incident response, regulatory compliance, data protection, and increased demand for digital privacy. Major trends include zero-trust security models, advanced threat detection, AI and ML integration, and increasing partnerships.
Which Factors Are Boosting Growth In The Cyber Security Managed Services Market?
The increasing frequency of online security threats is expected to drive the growth of the cybersecurity managed services market. Online security threats are a range of malicious activities aimed at compromising information and system security. The surge in online security risks can be attributed to factors like the rise in connected devices, new cyber threats, the growth of cryptocurrencies, and vulnerabilities in software and systems. Cybersecurity-managed services are essential for protecting organizations by offering continuous monitoring, advanced threat detection, fast incident response, and robust security solutions. A report from the Identity Theft Resource Center in April 2023 revealed a 68% rise in data breach incidents, with 1,862 breaches reported in 2022. As a result, the growing security threats are driving the cybersecurity managed services market.
What Key Areas Define The Segmentation Of The Global Cyber Security Managed Services Market?
The cyber security managed services market covered in this report is segmented –
1) By Service: Managed Detection And Response (MDR), Incident Management, Managed Vulnerability, Identity And Access Solution, Other Services
2) By Security Type: Network Security, Endpoint Security, Application Security, Other Security Types
3) By Enterprise Type: Small And Medium Size Enterprise, Large Enterprise
4) By Industry: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Telecommunications, Retail, Healthcare, Government, Manufacturing, Travel And Transportation, Energy And Utilities, Other Industries
Subsegments:
1) By Managed Detection and Response (MDR): Threat Monitoring, Threat Hunting, Incident Response
2) By Incident Management: Incident Detection, Incident Remediation, Incident Recovery
3) By Managed Vulnerability: Vulnerability Scanning, Vulnerability Assessment, Patch Management
4) By Identity and Access Solution: Identity Management, Access Control Management, Authentication Services
5) By Other Services: Security Information and Event Management (SIEM), Cloud Security, Endpoint Protection
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What Trends Are Shaping The Cyber Security Managed Services Market?
The cybersecurity managed services market is adopting new technologies such as holistic digital protection to attract customers. For instance, in February 2024, Astreya launched its Cybersecurity Managed Services, offering a comprehensive suite that includes identity management, endpoint protection, and risk management. The service integrates with existing infrastructures, providing robust protection against cyber threats and proactive defense strategies.
Who Are the Key Players In The Cyber Security Managed Services Market?
Major companies operating in the cyber security managed services market are:
• Microsoft Corporation
• Verizon Communications Inc.
• AT&T Inc.
• Dell Technologies Inc.
• Hitachi Ltd.
• Accenture plc
• International Business Machines Corporation
• Cisco Systems Inc.
• Oracle Corporation
• Honeywell International Inc.
• Symantec Corporation (Broadcom Inc)
• Fujitsu Limited
• Hewlett Packard Enterprise Development LP
• Tata Consultancy Services Limited
• Toshiba Corporation
• Capgemini SE
• Lumen Technologies Inc.
• DXC Technology Company
• BDO Global
• Atos SE
• Wipro Limited
• Palo Alto Networks Inc.
• Fortinet Inc.
• Optiv Security Inc.
• Check Point Software Technologies Ltd.
• McAfee LLC
• Trend Micro Inc.
• CrowdStrike Inc.
• Rapid7 Inc.
• Secureworks Inc.
• Trustwave Holdings Inc.
What Is The Most Dominant Region In The Cyber Security Managed Services Market?
North America was the largest region in the cyber security managed services market in 2024. The regions covered in the cyber security managed services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
