Managed Security Services Market Analysis

Deployment Mode (On-premises, Cloud)

The global managed security services market is segmented and analyzed for demand and supply by deployment mode into on-premises and cloud. Out of the cloud segment is estimated to gain the largest market share of about 55% in the year 2036. The primary factor for segment growth is the rising adoption of cloud computing by companies around the world as well as the increased amount of data being stored in the cloud owing to its great advantages. For instance, in the year 2021, more than 65% of global enterprise infrastructure was cloud-based. Also, the numerous advantages of cloud solutions such as efficiency in managing data and effectiveness in storing a big amount of data for storing and protection from cyber threats are propelling enterprises to opt for cloud services for proper data management. Technologically advanced cloud solutions are very much effective in improving the managed security services and reducing the chances of cyberattacks and cyber-crimes in the long run which in turn, is anticipated to bring lucrative growth opportunities in revenue generation of the segment.

End User (BFSI, IT & Telecommunications, Government & Defense, Manufacturing, Healthcare, Retail, Energy and Utilities)

The global managed security services market is also segmented and analyzed for demand and supply by end-user into BFSI, IT & telecommunications, government & defense, manufacturing, healthcare, retail, energy and utilities, and others. Amongst these segments, the BFSI segment is expected to garner a significant share of around 31% in the year 2036. The BFSI vertical is the major source of highly confidential information for customers about their financial data, user IDs, passwords, and other personal information. As a result, they require advanced solutions for the protection of these resources and critical information. Also, BFSI is mostly attacked by phishing attacks which are aimed at stealing login credentials, and DDoS attacks for sabotaging online payments. As managed security services are imperative for these types of financial institutions for improving the customer experience and protecting their customers against the consequences of a breach in security, the rapid growth of BFSI is anticipated to increase the growth of the segment.

Our in-depth analysis of the global market includes the following segments:

By Deployment Mode	On-premises Cloud
By Solution Type	Identity & Access Management Firewall Management Intrusion Detection & Prevention Distributed Denial of Services Endpoint Security Unified Threat Management Secured Information & Event Management
By Security Type	Network Security Cloud Security Endpoint Security Application Security
By Enterprise Size	Small & Medium-sized Enterprises Large Enterprises
By End User	BFSI IT & Telecommunications Government & Defense Manufacturing Healthcare Retail Energy and Utilities Others

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of managed security services is estimated at USD 32.37 Billion.

The managed security services market size was over USD 28.63 Billion in 2023 and is set to cross USD 166.42 Billion by the end of 2036, growing at more than 14.5% CAGR during the forecast period i.e., between 2024-2036. Increasing internet penetration, security breaches, sophisticated cyberattacks, growing trends of BYOD, and safe and reliable benefits provided by managed security services are the major factors driving the market growth.

North America is projected to be the largest with a share of about 35% by 2036, owing to increasing cases of a security breach, higher dependence of enterprises on cloud-based applications, and increasing investments by players in the region in security solutions.

IBM, SecureWorks, Inc., Verizon, Trustwave Holdings, Inc., Broadcom Inc., AT&T Inc., BAE Systems, CIPHER, Accenture, NTT Limited, Field Effect Software Inc.

Managed Security Services Market Analysis