What Fueled The Previous Growth In The Managed Security Services Market?
The managed security services market has seen considerable growth due to a variety of factors.
• The market size for managed security services has experienced swift expansion in the past few years. The market is projected to rise from a value of $33.86 billion in 2024, up to $38.77 billion in 2025, depicting a compound annual growth rate (CAGR) of 14.5%.
This historical growth trend can be linked to various factors such as emphasis on identity and access management, affordability of security solutions, requirements for regulatory compliance, the management of endpoint security, and a heightened attention toward internal threats.
What Is The Expected Growth In The Managed Security Services Market Size?
The managed security services market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the managed security services market size is anticipated to experience swift expansion. It is projected to escalate to $71.29 billion in 2029 with a compound annual growth rate (CAGR) of 16.4%.
The expected growth in the forecast period is due to regulatory progression, the proliferation of managed detection and response, and critical infrastructure protection. Significant trends during the predicted period consist of security in cloud and hybrid environments, application for better security, technologies that conserve privacy, cooperation with professionals in industry verticals, sharing of advanced threat intelligence, and automated incident responses.
What Main Forces Are Fueling Expansion In The Managed Security Services Market?
The escalating occurrences of security infringements are predicted to drive the expansion of the managed security services market in the future. A security breach is an event that leads to unauthorized entry into computer data, applications, networks, or devices. As managed security services supervise and control security systems and devices, the escalating instances of security breaches will enhance the need for the managed security services market. For example, in January 2024, the Identity Theft Resource Center (ITRC), a non-profit organization based in the US, reported that the total count of data breaches, exposures, leaks, and indeterminate incidents reached 3,205, affecting an estimated 353,027,892 victims, including those victimized by multiple breaches. Thus, the surge in security breaches supports the growing market demand for managed security services.
What Are The Primary Segments In The Global Managed Security Services Market?
The managed security services market covered in this report is segmented –
1) By Type: Network Security, Terminal Security, Application Security, Cloud Security
2) By Deployment Type: On-Premise, Cloud
3) By Organization Size: Large Enterprises, Small And Medium-sized Enterprises (SMEs)
4) By Application: Intrusion Detection And Prevention, Threat Prevention, Distributed Denial Of Services, Firewall Management, End-Point Security, Risk Assessment
5) By End User: BFSI, Government And Defense, Retail, Manufacturing, Healthcare And Life Sciences, IT And Telecom, Other End Users
Subsegments:
1) By Network Security: Firewall Management, Intrusion Detection And Prevention Systems (IDPS), Virtual Private Network (VPN) Management, Network Monitoring, Terminal Security
2) By Endpoint Protection: Mobile Device Management (MDM), Endpoint Detection And Response (EDR)
3) By Application Security: Web Application Firewall (WAF), Application Vulnerability Assessment, Secure Software Development Lifecycle (SDLC) Services
4) By Cloud Security: Cloud Access Security Broker (CASB), Cloud Security Posture Management (CSPM), Cloud Workload Protection Platforms (CWPP)
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Which Key Trends Are Driving Changes In The Managed Security Services Market?
A significant trend of strategic partnerships is currently gaining traction in the managed security services industry. Major players in this sector are engaging in novel collaboration efforts to reinforce their market standing. For example, in October 2024, Ooredoo, an ICT provider and telecommunications operator from Qatar, joined hands with Tech Mahindra, a top-tier technology consulting and digital solutions firm from India. The aim was to augment the Managed Security Services (MSS) it provides to its B2B clientele. This strategic approach was adopted to address substantial needs in the IMEA markets. By pooling resources, the focus has been on employing global expertise to meet the security requirements of customers and establish a new standard for security services across this region.
Who Are the Key Players in the Managed Security Services Market?
Major companies operating in the managed security services market include:
• International Business Machines Corporation
• Cisco Systems Inc.
• Nippon Telegraph and Telephone Corporation
• Secureworks Inc.
• BT Managed Security Solutions
• Check Point Software Technologies Ltd.
• Wipro Limited
• Accenture plc
• DXC Technology Company
• Lumen Tech Inc.
• BAE Systems plc
• Nuspire
• Fujitsu Limited
• HCL Technologies Limited
• Trustwave Holdings Inc.
• Fortinet Inc.
• Verizon Communications Inc.
• Tata Consultancy Services Limited
• Capgemini SE
• Deloitte Touche Tohmatsu Limited
• Infosys Limited
• Orange S. A.
• Foresite MSP LLC
• Herjavec Group
• NTT Europe Ltd.
• Armor Defense Inc.
What Is The Most Dominant Region In The Managed Security Services Market?
North America was the largest region in the managed security services market in 2024. The regions covered in the managed security services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
