Managed Security Services Market
What combination of drivers is leading to accelerated growth in the managed security services market?
An escalation in security breaches is anticipated to drive the growth of the managed security services market. A security breach refers to any circumstance that allows unauthorized access to computer data, applications, networks, or devices. Managed security services oversee and control security systems and devices, meaning that the surge in security breaches will heighten the need for the managed security services market. As an example, in January 2024, the Identity Theft Resource Center (ITRC), a non-profit organization based in the US, reported a total of 3,205 incidents involving data breaches, exposures, leaks and other unclear cases, potentially affecting an approximate 353,027,892 victims, including those subjected to multiple compromises. Consequently, the upsurge in security breaches contributes to a higher market demand for managed security services.
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What is the projected compound annual growth rate (CAGR) of the managed security services market from 2025 to 2034, and what factors influence it?
In recent years, the market size for managed security services has seen speedy expansion. The market is set to increase from a worth of $33.86 billion in 2024 to $38.77 billion in 2025, showing a compound annual growth rate (CAGR) of 14.5%. This growth in the past period can be ascribed to an increased emphasis on identity and access management, affordable security solutions, the need to meet regulatory compliance requirements, the management of endpoint security, and an amplified focus on internal threats.
The market size of managed security services is projected to experience fast-paced growth in the forthcoming years, rising to $71.29 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 16.4%. The growth predicted during this period can be associated with regulatory developments, the proliferation of managed detection and response, and protection of critical infrastructure. Key trends anticipated during this timeframe encompass cloud security and hybrid environments, the utilization of blockchain for superior security, privacy-preserving technologies, partnerships with domain-specific professionals, enhanced threat intelligence sharing, and automated responses to incidents.
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How are the latest trends influencing the growth of the managed security services market?
Strategic partnerships have become a predominant trend in the managed security services market. Many prominent companies in this sector are solidifying new collaboration agreements to bolster their market standing. For example, in October 2024, Ooredoo, a Qatar-based telecom operator and ICT provider, joined forces with Tech Mahindra, an Indian company specializing in tech consulting and digital solutions, with the aim to improve the Managed Security Services (MSS) it offers to its B2B clients. This strategic partnership was initiated to efficiently tackle the pressing needs across the IMEA markets. Their combined efforts concentrate on harnessing their global expertise to address customers’ security requirements, consequently establishing a new standard for security services in the region.
What are the major segments of the managed security services market and their role in driving growth?
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 regions are key players in the growth of 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
Who are the key firms paving the way for growth 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.
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What Is Covered In The Managed Security Services Global Market Report?
•Market Size Forecast: Examine the managed security services market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the managed security services market for a structured understanding.
•Key Players Overview: Analyze major players in the managed security services market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the managed security services market.
•Segment Contributions: Evaluate how different segments drive overall growth in the managed security services market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the managed security services market.
•Industry Challenges: Identify potential risks and obstacles affecting the managed security services market.
•Competitive Landscape: Review strategic developments in the managed security services market, including expansions, agreements, and new product launches.
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