Managed Security Services Market to Reach US$ 53.22 Billion by 2031: Notes TMR Study
ALBANY, N.Y., June 15, 2022 /PRNewswire/ -- Enterprises are keen on adopting managed security services (MSSs) to ensure advanced cyber defence. The managed security services market size is continuously becoming big on the back of the growing role of MSS providers in not only securing organization's digital assets but also of customers and business partners. The global market is forecast to advance at CAGR of 14.2% from 2022 to 2031 (the forecast period).
The TMR study on the managed security services market found that the identity and access management (IAM) is remarkably lucrative segment. Growing popularity of IAM solutions for enterprise-wide security is driving MSS market segment share. The past few years have witnessed growing numbers of companies across industries allowing work from home (WFH) and bring your own device (BYOD). The panoply of devices has raised the concerns of cyber threats considerably. This has created incredible growth opportunities for top best managed security services providers to capture on in the next few years.
The growing trend of IoT-enabled industries has increasingly made the information systems more complex over the years, as recent managed security services trends highlighted. Thus, the demand for MSS in the manufacturing, automotive, and healthcare industries is growing at a rapid pace, which has steered managed security services growth rate.
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Key Findings of Managed Security Services Market Study
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Managed Security Services Market: Key Drivers
Managed Security Services Market: Regional Growth Dynamics
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Managed Security Services Market: Key Players
Some of the key players in the managed security services market are Fujitsu, Capgemini, BAE Systems, Lumen Technologies, BT Group plc, Accenture, Wipro Limited, Optiv Security, Inc., Atos SE, Verizon Communications Inc., IBM, NTT Security, Broadcom Inc., AT&T, Trustwave Holdings, Inc., SecureWorks, Inc., and Alert Logic, Inc.
Managed Security Services Market Segmentation
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Managed Cyber Security Services Market - Managed Cyber Security Services Market is estimated to bring in US$ 63,524.5 million revenue by the end of 2026; market for managed cyber security Services is projected to register 15.6% CAGR
Cyber Security Consulting Market - In terms of revenue, the global cyber security consulting market is estimated to exceed value of US$ 28.22 Bn by 2031, expanding at a CAGR of 8.4% during the forecast period
VoIP Services Market - The global VoIP services market is expected to surpass the value of US$ 278.53 Bn by the end of 2031, expand at a CAGR of 11.9% from 2021 to 2031
Industrial Control Systems Security Solutions Market - The industrial control systems security solutions market is anticipated to cross value of US$ 54.8 Bn by 2030, expanding at a CAGR of 11.5% during the forecast period
Cloud Application Security & Vulnerability Management Market - Cloud application security & vulnerability management market is expected to register a CAGR of 14% between 2020 and 2030
Hardware Security Module (HSM) Market - Hardware security module (HSM) market is projected to expand at a CAGR of 11.4% during the forecast period from 2020 to 2027
Home Security Solutions Market - Home Security Solutions market is estimated to expand at a CAGR of 24.2% during the forecast period.
Messaging Security Market - Messaging Security Market is likely to advance at a CAGR of 13% from 2019 to 2027, reaching a market size of ~US$ 8 Bn by 2027
Physical Security Services Market - Physical Security Services Market to rise at a CAGR of 11.7% during the forecast period 2017–2022. By 2022, the market could draw a valuation of US$191.7 bn.
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