Managed Security Services Market, by Methods (Visual Inspection, Surface Inspection, Volumetric Inspection, Others), by Service (Inspection Services, Equipment Rental Services, Training Service and Calibration Service), by End-use (Oil and Gas, Aerospace and Defense, Public Infrastructure, Automotive Industries, Medical and Heath, Automotive, Others) –Global Industry Insights, Trends and Forecast, 2017-2025

Created On: Jun-2018
Report ID: IR115
Format: PDF

Market Introduction

The managed security service has the ability to provide outsourced management and monitoring security systems and devices. The common services that are included are intrusion detection, managed firewall, vulnerability scanning virtual private network, and anti-viral services. Such services are also considered as an approach to manage organizations security services. The services can be conducted in the company’s in house department or can be outsourced to a service provider that look after the company’s network and the information security system. In the recent years managed security services has evolved and has added more advanced technologies and security services to assist several organizations to defend attacks. Managed security services include managed or monitored and multifunctional firewalls or a unified management of threat, managed detection of the intrusion and the systems that prevents intrusion among others.

Market Dynamics

Rise in the cyber-attacks over the years has resulted to the rise in the demand for the managed security Services. In recent years every 40 seconds a company gets hit by a ransom. For instance, Petya which is a ransom ware has hit several organizations in Europe in 2017. Petya is found to exploit SMBV1 and MS Office and also has worm capabilities that can spread across all the networks. In addition to this proliferation of mobile devices has resulted to the adoption of managed security services. This is mainly because of increasing number of end points over the years and the employees are encouraged to use devices with BYOD strategies that are adopted by the organizations. Therefore this puts a lot of pressure on the staffs who looks after ensuring security. However lack of trust towards third party applications to share sensitive data is the major restrain to the global managed security service market.

Market Segmentation and Analysis

The market for managed security service has been segmented on the basis of methods, service, and end use. On the basis of methods the market has been segmented into visual inspection, surface inspection, volumetric inspection among others. On the basis of service the market has been segmented into inspection services, equipment rental services, training service and calibration service. The market has been further segmented on the basis of end-use such as oil and gas, aerospace and defense, public infrastructure, automotive industries, medical and heath, automotive among others

Geographical Outlook

In terms of region the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa and South America. North America dominated the market owing to the rising cyber-attacks over the years. Asia Pacific is expected to witness the fastest growth rate during the forecast period owing to the rise in adoption of managed security service in the countries such as China India among others. China dominated the market among the other countries in the Asia Pacific region due to the presence of persistent threats and other targeted threats. Increased wireless and wired internet services, growth of e-commerce has resulted to the adoption of managed security services over the years. In 2017, China recorded 772 million people who has access to the internet. Alibaba which became public at the New York stock exchange in 2014 has been one of the prominent internet pioneer and is the largest online operator of mobile payment and mobile shopping. In addition to this lack of proper skilled cyber security professionals has resulted to more number of threats and hence promoted the managed security services in China.

Competitive Landscape

Some of the major players of this market are Secureworks Inc., Trustwave Holdings, Wipro Ltd., CenturyLink Inc., Bae Systems Plc, Accenture, HCL Technologies, Hitachi Ltd. among others

Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
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