Managed Security Service Provider Market - By Application (Firewall Management, End-point Security, Distributed Denial of Service, Unified Threat Management, Antivirus/Antimalware, and Others), By Deployment Type (Cloud-based, Hybrid, and On-Premises), By Organization Size (Small and Midsized Enterprises (SMEs) and Large Enterprise), By End Users (BFSI, Government & Defense, Telecom & IT, Education, Retail, Healthcare, and Others) and By Region - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Managed security service refers to network security services, which offers remote monitoring, management of IT security functions, intrusion detection, scanning & anti-viral services, and among others. Managed Security Services (MSS) are provided by the managed security service providers (MSSP), which aid client organizations including small and medium sized enterprises (SMEs) and large enterprises such as IBM Corporation, Integralis Inc., and AT&T, in management of security of their networks. Increasing number of cyber threats has led to adoption of managed security services by enterprises in various sectors such as BFSI, IT and telecommunication, and government, which is expected to aid in the market growth of managed security service providers. Managed security service providers are majorly focusing on balancing device management, incident response, risk, and compliance functions. Additionally, companies are providing customized services including language support and data sovereignty. Moreover, the providers are adopting network behavioral analysis and predictive analysis to detect threats and events likely to place in the future systems and networks.

Increasing number of cyber-attacks is a major factor driving for growth of the managed security service provider market

Several organizations and corporate entities are increasing focusing on adopting various solutions such as cloud –based solutions and networks, in order to improved their business operations. Companies in sectors such as BFSI, education, and information technology & telecommunications integrate cloud-based systems into their infrastructure to shift the processes online. Therefore, threat for cyber-attacks is increasing significantly. Companies rely security, as the threat to a system directly harms the internal work of the company. For instance, in February 2016, the cyber-attack on central bank of Bangladesh have resulted in loss of US$ 81.2 million. Therefore, increasing complexity of infrastructure regarding cyber-attacks is driving companies to adopt managed security services. Most of the enterprises are adopting cloud-based managed services, which is specifically used for email security, identity access management, and among others, in order to reduce the risk of data breach and cyber-attack. Additionally, managed security service providers have an advantage over internal information technology divisions as these have a better visibility in the threat landscape.

BFSI segment is expected to account for the largest market share over the forecast period

Consumers are increasing focusing on using bank applications through several platforms. Therefore, this makes the services highly susceptible to attacks. Demand for security is high, in order to avoid data breach. Moreover, cyber-attacks in the banking sector are also increasing. For instance, in 2014, the cyber-attack on the European Central Bank (ECB), which included breaching of sensitive personal information such as email addresses and the contact data. Therefore, data security and protection of sensitive information are the major factors driving growth of the BFSI industry. Therefore, adoption of managed security services for application is these sectors is increasing, as data breach and cyber-attacks could lead to high loss. BFSI industry is largely focusing on identify and access management, unified threat management, disaster recovery and others. Therefore, BFSI segment is expected to hold the largest market share and is project retain its dominance over the forecast period.

Global Managed Security Service Provider Market: Regional Insights

On basis of region the global managed security service provider market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific is expected to exhibit the highest growth, during the forecast period. India, China, and Japan are the major growth engines in the market of Asia Pacific. This is owing to increasing number of enterprises such as Innospec Chemical Co. Ltd. and Gramin Health Care, in the region. For instance, according to the Coherent Market Insights’ analysis, in India from 2013 to 2014, 58.5 million of new enterprise establishments were recorded. Therefore, increasing number of enterprises will demand for security services, thus propelling growth of the managed security service provider market.

Global Managed Security Service Provider Market: Competitive Background

The key vendors that offer managed security services across the globe are IBM Corporation, Hewlett Packard Enterprise Company, Verizon Communications, Inc., AT&T, Inc., Symantec Corporation, Fortinet, Inc., Solutionary, Inc., SecureWorks, Inc., Computer Services Corporation, CenturyLink, Inc., Trustwave Holdings, Inc., and Rapid7, Inc.

Global Managed Security Service Provider Market: Taxonomy

On basis of application:

  • Firewall Management
  • End-point Security
  • Distributed Denial of Service
  • Unified Threat Management
  • Antivirus/Antimalware
  • Others

On basis of deployment type:

  • Cloud-based
  • Hybrid
  • On-premises

On basis of organization size:

  • Small and Medium Sized Enterprises
  • Large Enterprises

On basis of end users:

  • BFSI
  • Government & Defense
  • Telecom & IT
  • Education
  • Retail
  • Healthcare
  • Others

On basis of region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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