(MENAFN – EIN Presswire)
Managed Security Services Market Report 2024
The global managed security services (MSS) market is projected to grow from $29.9 billion in 2023 to $34.59 billion in 2024, with a CAGR of 15.7%. This growth is driven by increased focus on security management, cost-effective solutions, regulatory compliance, and protecting against insider threats.
Market Outlook
By 2028, the market is expected to reach $60.96 billion, growing at a 15.2% CAGR. Key growth factors include evolving regulations and the rising need for critical infrastructure protection.
Growth Drivers
The rising frequency of security breaches is expected to boost demand for managed security services, as businesses seek to monitor and manage security threats effectively.
Key Players
Major companies in the market include IBM, Cisco, Secureworks, BT, Check Point, Accenture, and many others.
Market Trends
Companies are focusing on innovative product launches to stay competitive in the MSS sector, which involves third-party cybersecurity services.
Market Segmentation
- By Type: Network Security, Terminal Security, Application Security, Cloud Security
- By Deployment: On-Premise, Cloud
- By Organization Size: Large Enterprises, Small and Medium-sized Businesses
- By Application: Threat Prevention, Firewall Management, Risk Assessment
- By End User: BFSI, Government, Retail, Healthcare, IT
Geographical Insights
North America was the leading region in the MSS market in 2023.
Report Highlights
The report includes market size data, macroeconomic factors, regional analysis, and insights into market trends and strategies.
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