Managed Security Services Market Size

Managed Security Services Market size was valued at USD 32.69 billion in 2024 and is likely to exceed USD 190.38 billion by the end of 2037, expanding at over 14.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of managed security services is evaluated at USD 36.48 billion.

The primary factor for market growth is the rising penetration of internet services and technological solutions in businesses. This is expected to increase the utilization rate of managed security services for keeping enterprises up-to-date with security issues, audits, and maintenance while preventing data thefts, breaches, cybercrime, and other cyber-related issues. A recent report that was published in 2022 stated that more than 90% of organizations and businesses around the world were calculated to be using some sort of digital initiative in their processes.

In the recent period, managed security services have been adopted by various enterprises as these solutions aid in the protection of corporate internet assets, password files, and confidential data. As a result, managed security services have been opted among organizations of all sizes which in turn is expected to expand the market size during the forecast period. Moreover, companies over the world are investing in network protection for securing their data which results in a higher adoption rate of managed security services in the next few years. Various advantages of managed security services such as its cheap and efficient security solution for customer and client businesses to help them secure their sensitive information and prevent data theft is anticipated to bolster its adoption rate in the assessment period. In addition to the aforementioned factors, the rapid escalation in cases of cybercrimes, hacking, phishing, thefts, and other crimes is estimated to drive the global managed security services market. Furthermore, the growing utilization rate of mobiles, IoT (Internet of Things) devices, and electronic products at workplaces along with the increase in electronic data worldwide are projected to create a positive outlook for the growth of the managed security services market.