$22 Billion Growth to 2028 Anticipated for Managed Security Services
The global Managed Security Services market size is expected to grow from USD 30.6 billion in 2023 to USD 52.9 billion by 2028 at a healthy CAGR of 11.5% during the forecast period.
This latest information comes from research firm, Marketsandmarkets, whose analysts suggest that the escalation of cyber attacks and sophisticated breaches across enterprises are driving organisations to seek expert help in navigating the complex and ever-evolving threat landscape. Also, the stringent government regulations are demanding robust data security further driving the global managed security services market.
The SME segment to see strong growth
The fully managed segment is expected to see continued growth in the coming years as organisations seeking complete control and minimal involvement in security operations opt for fully managed MSS. This provides hands-off security with minimal resource allocation from the in-house team. Organisations can align their resources and efforts with strategic initiatives rather than dedicating significant resources to security operations.
SMEs often lack the in-house cyber security expertise to manage and protect their digital assets effectively. MSS provides access to skilled professionals who can address their security needs without requiring internal expertise in a myriad of applications, services, and content for businesses and consumers.
MEA region to emerge as fastest-growing
The Middle East & Africa Managed security services market anticipates sustained explosive growth, driven by government policies, cloud adoption, the talent gap, and a growing focus on digitalisation, with businesses across the region increasingly relying on MSS partners to navigate the complex cyber landscape and safeguard their valuable assets.
The major vendors covered in the MSS market include payers from all over the globe, for example, IBM, NTT, Accenture, DXC Technology, Secureworks, Trustwave, Atos, Orange Cyberdefense, Fujitsu, AT&T, Verizon, Cisco, Infosys, Lumen, Nokia, and Trend Micro to name just a few.
