Managed Security Services Market Share

North American Market Forecast

The market share of managed security services in North America, amongst the market in all the other regions, is projected to be the largest with a share of about 35% by the end of 2037, 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. In 2020, over 1000 cases of data breaches were reported in the United States, with over 155 million people being affected by data exposure. Furthermore, region comprises the United States and Canada which have the most number of managed security services vendors with the most advanced infrastructure and high technological adoption in businesses. Also, the rising governing initiatives to protect critical infrastructure, systems, and data against ever-evolving cyberattacks are considered to positively contribute to market growth.

APAC Market Statistics

The Asia Pacific managed security services market is estimated to be the second largest, registering a share of about 24% by the end of 2037. The primary factor for market growth in the region is the presence of developing businesses and enterprises which require advanced solutions for data and information protection. In addition, the high investment made by the government and key players operating in the market in the research and development sector for the development of advanced managed security services to eliminate the chances of data thefts, cyberattacks, hacking, phishing, and other cybercrimes is estimated to create a positive outlook for robust revenue generation of the market in the upcoming years. Furthermore, emerging economies, such as China and India are increasingly investing in IT infrastructure, which is expected to provide untapped business opportunities for market players.

Europe Market Forecast

Further, the market in the European region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. Along with the rising awareness about cybercrimes and their solutions, European countries are opting for managed security services for the protection of confidential data and important information which in turn is anticipated to increase the revenue generation for market growth during the forecast period. Also, the increasing internet penetration, security breaches, and sophisticated cyberattacks are estimated to bring lucrative growth opportunities for market growth during the assessment period.