About Managed Cyber Security Services
The global managed cyber security services market is expected to grow at a healthy pace during the forecast period, according to the AMA study. The growing demand for telecom network infrastructure security and the significant rise in malware & phishing activities are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness a slight decline in the growth during the next few years but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Managed Cyber Security Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cisco Systems Inc (United States), AWS (United States), IBM (United States), Oracle (United States), Microsoft (United States), Micro Focus (United States), RSA (United States), Proofpoint Inc (United States) and Imperva Inc (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Managed Cyber Security Services market by , Application (Threat Detection & Alerts, Staff Augmentation, Network Architecture Maintenance, Security information and event management and Others) and Region.
On the basis of geography, the market of Managed Cyber Security Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Verticals, the sub-segment i.e. BFSI will boost the Managed Cyber Security Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Security, the sub-segment i.e. Network Security will boost the Managed Cyber Security Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. SMEs will boost the Managed Cyber Security Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Adoption of IoT & BYOD Trend Among Organisations
Market Growth Drivers:
Growing Demand for Telecom Network Infrastructure Security, Growing Demand for Safeguarding Computers, Programs, Networks, and Data from Unlicensed or Spontaneous Access and Rise in Malware & Phishing Threats
Challenges:
Cyber Attacks in Cloud-based Operations
Restraints:
The Outbreak of COVID-19 Pandemic is one of the Major Restraints for the Market as Most of the Industries have been Facing Economic Crisis Across the World
Opportunities:
Growing Demand for Cloud-Based Security Services is Expected to Create Huge Opportunity
Market Leaders and their expansionary development strategies
October 2023 – Accenture has acquired MNEMO Mexico, a privately held company specializing in managed cybersecurity services. the acquisition will help organizations build more cyber-resilient businesses and secure their digital cores, technologies and supply chains.
In February 2022, TechDemocracy: The leading cybersecurity services provider for enterprises, has launched of its cutting-edge Cyber Security Operations Center (CSOC) in Hyderabad, India, to provide managed cybersecurity services offering. It highlights the company's commitment to innovation by introducing new portfolios and services to augment its already robust cybersecurity offerings., and In August 2023, Schneider Electric, the leader in the digital transformation of energy management and industrial automation, today launched a Managed Security Services (MSS) offering to help customers in operational technology (OT) environments address the increased cyber risk associated with the demand for remote access and connectivity technologies.
Regulations Regarding Data Theft & Security
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.