Managed Security Services Market Size and Growth Rate:
The Global Managed Security Services Market Size is valued USD 18.08 billion in 2016 is anticipated to grow USD 63.01 billion by 2025 with the compounded annual growth of 14.88% over the forecast period 2018-2025.
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Managed Security Services Market Overview:
A managed security service or MSS is considered a systematic approach to manage the security requirements of an organization. This is necessary to improve security against security breaches and cyber attacks. Sent to internal and subcontracted service providers, this security service oversees the networks and security of the information system of other companies.
The Global Managed Security Services Market (MSS) refers to the ability to monitor and manage remotely computer security functions from third-party service providers to effectively protect critical data from your organization. The challenges of information security are becoming increasingly complex with business growth in terms of size, structure and use of social media, cloud services, large data and various computer devices. Increasing security attacks and malicious behavior of organized cybercrime groups are concerned about organizations. Managed security service providers in the form of affordable, reliable and effective security solutions, help clients/customers protect confidential information and protect their businesses. These services constitute an important part of the market scale of managed security. The adoption of BYOD in the workplace increases the increase in productivity allowing employees to access corporate data through personal devices.
The lack of capital resources and the experienced IT personnel make the organization in a management of the security of subcontracting. In addition, data security compliance requirements allow organizations to outsource data security tasks. However, the reluctance to share sensitive data and a variety of customer requirements related to security packages are an important challenge for the market for managed security services. In addition, as the complexity of network infrastructure grows, it becomes an important obstacle to data security management. In these scenarios, the outsourcing of security tasks to managed security service providers has become an advantage for organizations. However, endpoint security applications are seeing increasing as applications on mobile devices increase to access corporate networks.
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Managed Security Services Market Growth Drivers and Restraints:
With the increase in cybercrime, the demand for MSS in North America, Europe, Asia-Pacific and LAMEA has increased. The number of security service providers managed in North America is increasing to meet the strict information security rules. In addition, the highly competitive market is Europe, which shows all signs of advanced markets. In addition, the complexity of cyber-attacks continues to increase, maintaining the environment of the stable MSS provider. The adoption of MSS has increased significantly to prevent cyber attacks from growing in the AsiaPacific markets. The analysis of great data is fundamental for the growth of the world market.
Keyplayers of the Managed Security Services Market:
Among the main competitors in the industry are Dell SecureWorks Inc., IBM Corporation, Symantec Corporation, Verizon Communications Inc. I Trustwave Holdings. Companies are increasing their market position by focusing on mergers and acquisitions. For example, BAE Systems acquired SilverSky to improve its business cybernetic security business strategy.
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