Sun, 28 Nov 2021

According to a new market research report "Managed Security Services (MSS) Market by Security Type (Managed IAM, Managed SIEM, Managed Firewall, and MDR), Service Type (Fully MSS and Co-managed), Organization Size, Vertical (BFSI, Government, and Healthcare), and Region - Global Forecast to 2026″ published by MarketsandMarkets, the global MSS market size is projected to grow from USD 22.8 billion in 2021 to USD 43.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 13.9% during the forecast period. The major driving factors contributing to the high growth rate of the MSS market include the stringent government regulations, surge in trends such as BYOD, CYOD, and WFH, the rising security breaches and sophisticated cyberattacks across enterprises, and the cost-effectiveness in implementing MSS.

Browse and in-depth TOC on "Managed Security Services (MSS) Market"

352 - Tables

56 - Figures

318 - Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=5918403

By security type, managed IAM is expected to lead the MSS market during the forecast period

Managed IAM helps in driving automation, managing consumer identities, and establishing a risk-based approach. Identity provisioning, advanced authentication, Single-Sign-On (SSO), and Multi-factor Authentication (MFA) are some of the prominent features of IAM. Managed IAM offers provisioning, advanced authentication, directory technologies, and password management. The benefits of using managed IAM include automated employee data access control and authorization based on their role change, can be hosted on-premises or in private-cloud configurations and regular detailed reporting enables compliance. Identity-as-a-Service (IDaaS) is also gaining traction due to its centralized nature and cost-effectiveness. With the rapid increase in the trends of IoT, software-defined everything, and mobile devices, the trend of having universal authentication is also expected to be developed in the near future for easier but strong authentication. Hence, the managed IAM segment is expected to hold a significant share in the MSS market.

Based on vertical, BFSI segment to lead the MSS market during the forecast period

The BFSI vertical is mostly affected by phishing attacks, which are attempted toward stealing login credentials and DDoS attacks for sabotaging online payments. It also suffers due to targeted APTs and a lack of knowledge among customers and in-house staff. Customers are demanding anytime, anywhere banking, due to which BFSI organizations are deploying various services, such as internet banking, mobile banking, and stock trading for easing out the banking operations and processes for customers.

The BFSI vertical has a deep understanding of how MSS could be used to combat these threats. The biggest advantage of using MSS in BFSI is 24*7*365 monitoring, which results in immediate incident response and remediation in case of a security breach. The BFSI vertical is careful about the security of the sensitive data of its customers. Hence, to enhance the protection of online services against cyberattacks, MSS services are witnessing higher adoption in the BFSI vertical.

Request a Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=5918403

North America to hold the largest market share during the forecast period.

North America has several prominent market players delivering MSS solutions to all end-users in the region. The US and Canada both have strong economic conditions and are expected to be major contributors to the MSS markets growth. The geographical presence, significant Research and Development (R&D) activities, partnerships, and acquisitions and mergers are the major factors for deploying MSS and services. SMEs and large enterprises are spending a huge amount on incorporating MSS on their network infrastructure in the region. The region has a strong presence of MSSP as a result of the growing instances of cyberattacks

Market Players

Key and innovative vendors in the MSS market include IBM (US), AT&T Inc. (US), NTT (Japan), SecureWorks, Inc. (US), DXC Technology Company (US), BT Group plc (UK), Atos SE (France), Infosys Limited (India), Verizon Communications Inc. (US), Cipher Security (US), Wipro Limited (India), Accenture (Ireland), Trustwave Holdings, Inc. (US), The Herjavec Group (Canada), Lumen Technologies (US), Kudelski Security (Switzerland), and Nuspire (US) and others.

Browse Adjacent Markets @ Information Security Market Research Reports & Consulting

About MarketsandMarkets™:

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Tags: , , , , ,

See Campaign: http://www.marketsandmarkets.com/Market-Reports/managed-security-services-market-5918403.htmlContact Information:Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441Tags:Reportedtimes, PR-Wirein, Menafn, Extended Distribution, Research Newswire, English

More Cleveland News

Access More

Sign up for Cleveland News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!