The global Managed Security Services Market is projected to increase from USD 30.6 billion in 2023 to USD 52.9 billion by 2028, growing at a CAGR of 11.5% during the forecast period. This growth is driven by the rising cybercrime threats and a shortage of skilled cybersecurity professionals. Managed security services offer organizations access to experienced security experts without the need to invest in building and maintaining an in-house security team, making them a cost-effective and scalable solution for businesses.
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The type fully managed segment is expected to grow at the highest CAGR during the forecast period.
The fully managed segment is expected to see continued growth in the coming years as organizations 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. Organizations can align their resources and efforts with strategic initiatives rather than dedicating significant resources to security operations.
The SMES segment is expected to grow at the highest CAGR during the forecast period.
SMEs often lack the in-house cybersecurity 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.
Middle East& Africa is likely to emerge as the fastest-growing segment during the forecast period.
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 digitalization, with businesses across the region increasingly relying on MSS partners to navigate the complex cyber landscape and safeguard their valuable assets.
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Unique Features in the Managed Security Services Market
Managed Security Service Providers (MSSPs) offer round-the-clock monitoring, ensuring real-time threat detection and rapid incident response to mitigate cyber risks before they escalate.
With a global shortage of cybersecurity professionals, MSSPs provide businesses with access to highly trained security specialists, eliminating the need to build and maintain an in-house security team.
MSSPs leverage AI-driven analytics, machine learning, and real-time threat intelligence to proactively identify vulnerabilities and predict potential cyberattacks.
Instead of investing in expensive security infrastructure, businesses can outsource security operations, reducing costs while benefiting from cutting-edge security technologies.
MSSPs help organizations navigate complex regulatory requirements such as GDPR, HIPAA, and ISO 27001, ensuring compliance with industry-specific cybersecurity standards.
Managed security services can adapt to the changing needs of businesses, providing scalable solutions that grow with the organization, whether it’s a startup or a large enterprise.
Major Highlights of the Managed Security Services Market
The rapid increase in cyberattacks, ransomware, and data breaches is driving the demand for proactive security monitoring. Organizations are turning to Managed Security Service Providers (MSSPs) to safeguard their digital assets against evolving threats.
With a global talent gap in cybersecurity, businesses struggle to find and retain security experts. MSSPs provide access to specialized security teams, reducing the burden on in-house IT departments.
MSSPs are leveraging artificial intelligence, machine learning, and automation to enhance threat detection, incident response, and vulnerability management, improving overall cybersecurity efficiency.
As industries face stricter regulatory requirements (e.g., GDPR, HIPAA, ISO 27001), MSSPs play a crucial role in ensuring compliance and risk mitigation, helping businesses avoid legal and financial penalties.
With the shift to cloud computing and hybrid IT environments, businesses are increasingly adopting cloud-based managed security services to protect their networks, applications, and data from cyber threats.
From banking and finance to healthcare, retail, and government, various industries are integrating MSS to strengthen security postures, protect sensitive data, and ensure business continuity.
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Top Companies in the Managed Security Services Market
The major vendors covered in the MSS market are IBM (US), NTT (Japan), Accenture (Ireland), DXC Technology (US), Secureworks (US), Trustwave (US), Atos (France), Orange Cyberdefense (France), Fujitsu (Japan), AT&T (US), Verizon (US), Capgemini (France), HPE (US), Cisco (US), TCS (India), Kudelski Security (Switzerland), F5(US), Infosys (India), Lumen Technologies (US), Crowdstrike (US), Kroll (US), Nokia Networks (Finland), Trend Micro (Japan), Cipher Security (US), RSI Security (US), SecurityHQ (UAE), TrustNet (US), LightEdge (US), Nettitude (US), Teceze (US), CyFlare (US), Ascend Technologies (US), Avertium (US), DigitalXRAID (UK)
IBM:
IBM operates in the technology sector, focusing on creating and manufacturing advanced technologies, including software, networking systems, storage devices, and microelectronics. The company provides various services, including IT infrastructure, hosting, and consulting services across multiple domains, from mainframe computing to nanotechnology. IBM’s major business areas encompass Global Financing, Global Business Services (GBS), Global Technology Services, Systems, Cloud, and Cognitive Software. As of 2022, IBM has acquired 183+ companies. It specializes in comprehensive cybersecurity solutions and services tailored for diverse industries such as finance, healthcare, and government, with a global presence spanning multiple continents. IBM deals with 70 billion security events on a daily basis.
AT&T :
AT&T offers a variety of communication and IT services for businesses of all sizes. These services include voice, data, cloud, and security solutions. AT&T offers a wide range of managed security services, protecting businesses of all sizes with advanced network and endpoint security, threat detection, vulnerability management, and compliance monitoring.In North America, it faces competition from players such as Verizon and IBM, along with more specialist MSSPs.
NTT (Japan):
NTT is a global technology services provider offering Managed Security Services (MSS) to businesses worldwide. With a strong presence in Japan and beyond, NTT delivers a wide range of cybersecurity solutions, including threat detection and response, managed endpoint security, and security consulting.
Accenture (Ireland):
Accenture is a multinational professional services company offering Managed Security Services (MSS) to help organizations protect against cyber threats. With a focus on innovation and digital transformation, Accenture provides cybersecurity consulting, managed detection and response, and cloud security services.
DXC Technology (US):
DXC Technology is a leading IT services company providing Managed Security Services (MSS) to organizations globally. DXC offers a comprehensive suite of cybersecurity solutions, including managed detection and response, security operations center (SOC) services, and identity and access management.
Secureworks (US):
Secureworks, a subsidiary of Dell Technologies, specializes in Managed Security Services (MSS) and cybersecurity solutions. Secureworks offers managed detection and response, threat intelligence, vulnerability management, and security consulting services to protect organizations against cyber threats.
Trustwave (US):
Trustwave, a subsidiary of Singtel, is a cybersecurity company offering Managed Security Services (MSS) and security consulting. Trustwave’s services include managed threat detection and response, managed firewall, security testing, and compliance management solutions.
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