The managed security services landscape is growing and evolving with innovative services to efficiently and proficiently secure the IT infrastructure of organization. Increasing cyber threats across industries, digital transformation across industries, and increase in adoption of BYOD are fueling the growth of managed security services market. Present-day security processes demands a balance of device management, event monitoring, and incident response, as well as governance, risk, and compliance functions. Increasing number of cyber-attacks and ever-growing complex risk and compliance requirement have led to the demand for third party specialize security service providers.
Managed Security Services market is expected to grow to US$ 18,030.9 Mn by 2025 from US$ 6,004.2 Mn in 2016.
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The BFSI vertical is expected to account for the largest market share during the forecast period. The BFSI vertical of all the regions are experiencing a huge growth particularly, in the emerging economies worldwide. Also, the governments of all economies are taking various initiatives to become resilient to the cyber-attacks. This has attracted investment in the managed security services market.
The different types of threat management services that are covered in this report include Managed Firewall, Managed IDS/IPS, Managed VPN, Managed Anti-Virus and Malware, Managed Gateway Security, Managed IAM, Managed DLP, Others (Managed Web Content Filtering, and Managed Application Control, and Managed Email). MSSPs are looking managed IAM services market in APAC region as the most lucrative opportunity to target during the forecast period. Growth for enterprise mobility, adoption of BYOD, and distributed IT environment is fueling the demand for Identity & Access Management solutions and services in various verticals. Moreover, high adoption of cloud services in APAC region demanded more robust and comprehensive compliance management. All these factors are expected to create more demand for managed IAM services in APAC region. Thus, The Insight Partner’s analysis has estimated managed IAM market in APAC region to grow at a highest CAGR of 24.1% during the forecast period.
The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the managed security services industry.
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