Managed Security Service Market Value to Post 14.6% CAGR to 2021, Expects M&M in Its New Research Study Published at MarketPublishers.com19 Jan 2018 • by Natalie Aster
LONDON – The market for managed security services is poised to increase from a value of USD 17.02 billion as of 2016 to amount to USD 33.68 billion by end-2021, posting a 14.6% CAGR in the offing.
The ever-evolving need for improved security measures, emergence of IoT technologies, uptake of portable software solutions, remote management tools, and decrease in the IT security spending in an organisation for a sustainable future, have resulted in the uptake of managed security services.
Based on services, risk and compliance management segment is set to see the fastest CAGR over the projected period, primarily due to the unsteady rules and guidelines, which make adherence to the government and industry standards an ongoing challenge for organisations.
The BFSI vertical is likely to grab the biggest share of the market in the offing, due to its dealings with a huge amount of sensitive data and the significant influence of the data leakages on the organisation's business.
In APAC, the emerging economies of China, Singapore, Australia, and India are adopting managed security services at a rapid rate. This is primarily owing to the booming BFSI, IT & telecom, and pharma industries in the region, with demands chiefly from SMBs. North America is likely to be the main revenue-generating region for providers of managed security services in 2016. This is due to the elevated focus on innovation and technology uptake, specifically in the region’s developed economies.
New topical research report “Managed Security Services Market - Global Forecast To 2021” created by M&M offers an all-round examination of the market worldwide. It provides detailed market segmentation based on service, organization size, deployment type, vertical, and region-wise. The study provides detailed revenue figures for the overall market and each of its subsegments, with the market data further broken down across various verticals and regions. The study sheds light on the market driving and restraining factors, challenges, and opportunities. It gives an all-round understanding of the competitors and limelights the competitive landscape, including competitor ecosystem and M&A analysis. Furthermore, the publication offers detailed company profiles of 13 players in the marketplace.
Visit M&M online catalogue at MarketPublishers.com to gain access to a complete list of the publisher’s research studies.