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Technavio Highlights Top Four Emerging Trends Impacting the Global Managed Security Services Market Until 2020Technavio's latest report on the global managed security services market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline. In 2015, the global managed security services market was valued at USD 18.02 billion and is projected to grow at a CAGR of close to 12% during the period 2016-2020. According to Amrita Choudhury, a lead analyst at Technavio for research on IT security services, "The market will have significant growth in terms of revenue during the forecast period as a result of the high adoption of managed services. The increase in adoption of managed services is because they provide convenience and service quality assurance for end-users. In addition, the growing number of cyber-attacks is encouraging security service vendors to outsource their services." The top four emerging trends driving the global managed security services market according to Technavio ICT research analysts are:
Increased demand for managed security services from SMBs The evolving market and the changing aspects of businesses have prompted organizations worldwide to constantly innovate and overhaul their existing business models and enterprise infrastructure. "Managed security services support the growth of a company by addressing the security requirements and helping it gain a competitive edge by optimizing business processes and improving operational efficiency. They help SMBs by offering high-level security for sensitive and confidential information. Therefore, the IT infrastructure of many companies needs to be upgraded to cater to business demands. This will increase the adoption of secure IT services among end-users," adds Amrita. M&A in global managed security services market As the market is highly fragmented with the presence of many small vendors mostly operating in niche markets, there is scope for M&A. The niche market players have superior technology. Therefore, the most favored method for large vendors to enter this market is through the acquisition of niche players. Some large vendors such as NTT (News - Alert) Com Security and NTT DATA have shown this acquisition trend, which will continue in the future. In addition, with the increased competition to provide integrated solutions, vendors can increase their market presence through acquisitions.
Increase in number of partnerships With an increase in competition in the global managed security services market, vendors are expanding overseas beyond traditional boundaries. However, due to the lack of knowledge about managed security services, especially in developing regions, most vendors are increasingly relying on their partners. Many vendors such as Symantec (News - Alert), IBM, HP, Verizon Communications, and AT&T, based in the Americas, are relying on the partnership network approach. For instance, Solutionary, an MSSP, entered into a partnership with pure-play managed security service provider e-Cop to provide its services in Singapore. Partnerships in global managed security services market
Increase in demand for vulnerability management and compliance MSSPs mainly offer simple security solutions such as security event monitoring (log monitoring, event correlation, and analysis) and content security (e-mail monitoring and filtering, e-mail encryption and archiving, and web monitoring and filtering). However, with the growing demand for more complex solutions and increased preference for outsourcing network security to dedicated MSSPs, there is also a growing demand for other complex services. It is predicted that vulnerability management and policy- or compliance-related solutions will experience a high demand in the future. The vulnerability space, which has offerings such as vulnerability scanning, patching, upgrades, configuration enforcement, and change control, is observing an increasing demand for security solutions. Compliance-related security offerings such as compliance and policy assessments and security benchmarking are also observing a growth in demand. Browse Related Reports:
Do you need a report on a market in a specific geographical cluster or country but can't find what you're looking for? Don't worry, Technavio also takes client requests. Please contact [email protected] with your requirements and our analysts will be happy to create a customized report just for you. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected]. View source version on businesswire.com: http://www.businesswire.com/news/home/20160802005158/en/ |
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