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Global Managed Security Services Market Size, Share, Forecast: By Deployment Type: Cloud, On-Premise; By Service Type: Managed SIEM, Managed UTM, Managed DDoS, Managed XDR, Managed IAM, Managed Risk and Compliance, Others; By Security Type; By Service Provider; By End-Use; Regional Analysis; Competitive Landscape; 2024-2032

Global Managed Security Services Market Outlook

The global managed security services market size reached approximately USD 31.67 billion in 2023. The market is projected to grow at a CAGR of 13.5% between 2024 and 2032, reaching a value of around USD 99 billion by 2032.

Key Trends in the Global Managed Security Services Market

Managed security services (MSS) are specialised services offered by external providers to effectively monitor and manage an organisation's security infrastructure. These services are designed to enhance the security posture of a business by providing expert oversight and support for various security functions.

One of the factors influencing the managed security services market growth is the ever-evolving nature of cyber threats. As cybercriminals continue to develop sophisticated attack techniques, organisations face an escalating risk of security breaches. This dynamic threat landscape has led businesses to seek the expertise and resources of MSS providers who can offer advanced threat detection and response capabilities.

The widespread adoption of cloud computing is expected to significantly enhance the global managed security services market demand as it enables adaptive response to changing requirements and efficient allocation of resources. However, this shift also introduces new security challenges related to data protection, access control, and compliance in cloud environments. MSS providers have adapted to this trend by offering specialised cloud security solutions.

Managed detection and response (MDR) has emerged as one of the key global managed security services market trends. MDR services go beyond traditional security monitoring by providing comprehensive threat detection, investigation, and response capabilities. These services are designed to identify and neutralise threats in real time, reducing the time to detect and respond to incidents. The integration of MDR within MSS offerings enhances organisations' ability to defend against advanced and persistent threats.

Global Managed Security Services Market Analysis

Based on deployment type, the market can be segmented into cloud and on-premise. The global managed security services market segmentation, based on service type, includes managed SIEM, managed UTM, managed DDoS, managed XDR, managed IAM, and managed risk and compliance, among others. The market, based on security type, can be divided into network security, cloud security, end point security, and application security.

The market, based on service provider, includes managed security specialists, IT services providers, and telecom service providers. Based on end-use, the market is categorised into BFSI, retail, government and defence, healthcare and life sciences, manufacturing, and IT and telecom. The major regional markets for managed security services are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global managed security services market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

Broadcom, Inc.

Secureworks Inc.

Fortra, LLC

Trustwave Holdings, Inc.

Verizon Communications Inc.

BAE Systems plc

IBM Corporation

Wipro Limited

Cisco Systems, Inc.

Others

Global Managed Security Services Market Share by Service Provider

According to the global managed security services market analysis, managed security specialists are likely to be in high demand in the coming years as they have a deep understanding of cybersecurity threats, vulnerabilities, and best practices. This specialised expertise allows them to offer more targeted and effective solutions.

Managed security specialists often provide a wide range of services, including threat detection and response, vulnerability assessments, compliance management, security policy development, and more.

Global Managed Security Services Market Share by End Use

The retail sector is expected to increasingly utilise MSS services, and contribute to the global managed security services market share during the forecast period. Managed security services help secure Point-of-Sale (POS) systems, which are critical to retail operations. They enable the monitoring of any unauthorised access or unusual transactions that may indicate a breach. These services also assist in compliance with industry-specific regulations like the Payment Card Industry Data Security Standard (PCI DSS) to ensure that retailers meet the required security standards.

Competitive Landscape

Broadcom, Inc. is a globally renowned technology company at the forefront of innovation in the semiconductor and infrastructure software sectors. Since its foundation in 1991, Broadcom has developed a wide range of products and services that power modern networks, data centres, and electronic devices. Leveraging their expertise in semiconductors, connectivity solutions, and software, the company plays a pivotal role in shaping the digital landscape.

Secureworks Inc. stands as a leading cybersecurity company, renowned for its focus on safeguarding organisations against evolving cyber threats. With a deep understanding of the ever-changing threat landscape, Secureworks provides a comprehensive suite of managed security services and cutting-edge solutions tailored to meet the unique security needs of businesses across different sectors.

Verizon Communications Inc. is a global telecommunications company headquartered in New York City, United States of America. Established as one of the largest and most influential players in the telecommunications sector, Verizon offers a diverse range of services, including wireless communications, broadband, entertainment, and enterprise solutions.

Other major players in the global managed security services market are Fortra, LLC, Trustwave Holdings, Inc., BAE Systems plc, IBM Corporation, Wipro Limited, and Cisco Systems, Inc., among others.

Key Highlights of the Report

REPORT FEATURES	DETAILS
Base Year	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Scope of the Report	Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment: Deployment Type Service Type Security Type Service Provider End-Use Region
Breakup by Deployment Type	Cloud On-Premise
Breakup by Service Type	Managed SIEM Managed UTM Managed DDoS Managed XDR Managed IAM Managed Risk and Compliance Others
Breakup by Security Type	Network Security Cloud Security End Point Security Application Security
Breakup by Service Provider	Managed Security Specialists IT Services Providers Telecom Service Providers
Breakup by End-Use	BFSI Retail Government and Defence Healthcare and Life Sciences Manufacturing IT and Telecom
Breakup by Region	North America United States of America Canada Europe United Kingdom Germany France Italy Others Asia Pacific China Japan India ASEAN Australia Others Latin America Brazil Argentina Mexico Others Middle East and Africa Saudi Arabia United Arab Emirates Nigeria South Africa Others
Market Dynamics	SWOT Analysis Porter's Five Forces Analysis Key Indicators for Demand Key Indicators for Price
Competitive Landscape	Market Structure Company Profiles Company Overview Product Portfolio Demographic Reach and Achievements Certifications
Companies Covered	Broadcom, Inc. Secureworks Inc. Fortra, LLC Trustwave Holdings, Inc. Verizon Communications Inc. BAE Systems plc IBM Corporation Wipro Limited Cisco Systems, Inc. Others

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1   Preface
2   Report Coverage – Key Segmentation and Scope
3   Report Description
   3.1   Market Definition and Outlook
   3.2   Properties and Applications
   3.3   Market Analysis
   3.4   Key Players
4   Key Assumptions
5   Executive Summary
   5.1   Overview
   5.2   Key Drivers
   5.3   Key Developments
   5.4   Competitive Structure
   5.5   Key Industrial Trends
6   Market Snapshot
   6.1   Global
   6.2   Regional
7   Opportunities and Challenges in the Market
8   Global Managed Security Services Market Analysis
   8.1   Key Industry Highlights
   8.2   Global Managed Security Services Historical Market (2018-2023)
   8.3   Global Managed Security Services Market Forecast (2024-2032)
   8.4   Global Managed Security Services Market by Deployment Type
       8.4.1   Cloud
           8.4.1.1   Historical Trend (2018-2023)
           8.4.1.2   Forecast Trend (2024-2032)
       8.4.2   On-Premise
           8.4.2.1   Historical Trend (2018-2023)
           8.4.2.2   Forecast Trend (2024-2032)
   8.5   Global Managed Security Services Market by Service Type
       8.5.1   Managed SIEM
           8.5.1.1   Historical Trend (2018-2023)
           8.5.1.2   Forecast Trend (2024-2032)
       8.5.2   Managed UTM
           8.5.2.1   Historical Trend (2018-2023)
           8.5.2.2   Forecast Trend (2024-2032)
       8.5.3   Managed DDoS
           8.5.3.1   Historical Trend (2018-2023)
           8.5.3.2   Forecast Trend (2024-2032)
       8.5.4   Managed XDR
           8.5.4.1   Historical Trend (2018-2023)
           8.5.4.2   Forecast Trend (2024-2032)
       8.5.5   Managed IAM
           8.5.5.1   Historical Trend (2018-2023)
           8.5.5.2   Forecast Trend (2024-2032)
       8.5.6   Managed Risk and Compliance
           8.5.6.1   Historical Trend (2018-2023)
           8.5.6.2   Forecast Trend (2024-2032)
       8.5.7   Others
   8.6 Global Managed Security Services Market by Security Type
       8.6.1   Network Security
           8.6.1.1   Historical Trend (2018-2023)
           8.6.1.2   Forecast Trend (2024-2032)
       8.6.2   Cloud Security
           8.6.2.1   Historical Trend (2018-2023)
           8.6.2.2   Forecast Trend (2024-2032)
       8.6.3   End Point Security
           8.6.3.1   Historical Trend (2018-2023)
           8.6.3.2   Forecast Trend (2024-2032)
       8.6.4   Application Security
           8.6.4.1   Historical Trend (2018-2023)
           8.6.4.2   Forecast Trend (2024-2032)
   8.7   Global Managed Security Services Market by Service Provider
       8.7.1   Managed Security Specialists
           8.7.1.1   Historical Trend (2018-2023)
           8.7.1.2   Forecast Trend (2024-2032)
       8.7.2   IT Services Providers
           8.7.2.1   Historical Trend (2018-2023)
           8.7.2.2   Forecast Trend (2024-2032)
       8.7.3   Telecom Service Providers
           8.7.3.1   Historical Trend (2018-2023)
           8.7.3.2   Forecast Trend (2024-2032)
   8.8   Global Managed Security Services Market by End-Use
       8.8.1   BFSI
           8.8.1.1   Historical Trend (2018-2023)
           8.8.1.2   Forecast Trend (2024-2032)
       8.8.2   Retail
           8.8.2.1   Historical Trend (2018-2023)
           8.8.2.2   Forecast Trend (2024-2032)
       8.8.3   Government and Defence
           8.8.3.1   Historical Trend (2018-2023)
           8.8.3.2   Forecast Trend (2024-2032)
       8.8.4   Healthcare and Life Sciences
           8.8.4.1   Historical Trend (2018-2023)
           8.8.4.2   Forecast Trend (2024-2032)
       8.8.5   Manufacturing
           8.8.5.1   Historical Trend (2018-2023)
           8.8.5.2   Forecast Trend (2024-2032)
       8.8.6   IT and Telecom
           8.8.6.1   Historical Trend (2018-2023)
           8.8.6.2   Forecast Trend (2024-2032)
   8.9   Global Managed Security Services Market by Region
       8.9.1   North America
           8.9.1.1   Historical Trend (2018-2023)
           8.9.1.2   Forecast Trend (2024-2032)
       8.9.2   Europe
           8.9.2.1   Historical Trend (2018-2023)
           8.9.2.2   Forecast Trend (2024-2032)
       8.9.3   Asia Pacific
           8.9.3.1   Historical Trend (2018-2023)
           8.9.3.2   Forecast Trend (2024-2032)
       8.9.4   Latin America
           8.9.4.1   Historical Trend (2018-2023)
           8.9.4.2   Forecast Trend (2024-2032)
       8.9.5   Middle East and Africa
           8.9.5.1   Historical Trend (2018-2023)
           8.9.5.2   Forecast Trend (2024-2032)
9   North America Managed Security Services Market Analysis
   9.1   United States of America
       9.1.1   Historical Trend (2018-2023)
       9.1.2   Forecast Trend (2024-2032)
   9.2   Canada
       9.2.1   Historical Trend (2018-2023)
       9.2.2   Forecast Trend (2024-2032)
10   Europe Managed Security Services Market Analysis
   10.1   United Kingdom
       10.1.1   Historical Trend (2018-2023)
       10.1.2   Forecast Trend (2024-2032)
   10.2   Germany
       10.2.1   Historical Trend (2018-2023)
       10.2.2   Forecast Trend (2024-2032)
   10.3   France
       10.3.1   Historical Trend (2018-2023)
       10.3.2   Forecast Trend (2024-2032)
   10.4   Italy
       10.4.1   Historical Trend (2018-2023)
       10.4.2   Forecast Trend (2024-2032)
   10.5   Others
11   Asia Pacific Managed Security Services Market Analysis
   11.1   China
       11.1.1   Historical Trend (2018-2023)
       11.1.2   Forecast Trend (2024-2032)
   11.2   Japan
       11.2.1   Historical Trend (2018-2023)
       11.2.2   Forecast Trend (2024-2032)
   11.3   India
       11.3.1   Historical Trend (2018-2023)
       11.3.2   Forecast Trend (2024-2032)
   11.4   ASEAN
       11.4.1   Historical Trend (2018-2023)
       11.4.2   Forecast Trend (2024-2032)
   11.5   Australia
       11.5.1   Historical Trend (2018-2023)
       11.5.2   Forecast Trend (2024-2032)
   11.6   Others
12   Latin America Managed Security Services Market Analysis
   12.1   Brazil
       12.1.1   Historical Trend (2018-2023)
       12.1.2   Forecast Trend (2024-2032)
   12.2   Argentina
       12.2.1   Historical Trend (2018-2023)
       12.2.2   Forecast Trend (2024-2032)
   12.3   Mexico
       12.3.1   Historical Trend (2018-2023)
       12.3.2   Forecast Trend (2024-2032)
   12.4   Others
13   Middle East and Africa Managed Security Services Market Analysis
   13.1   Saudi Arabia
       13.1.1   Historical Trend (2018-2023)
       13.1.2   Forecast Trend (2024-2032)
   13.2   United Arab Emirates
       13.2.1   Historical Trend (2018-2023)
       13.2.2   Forecast Trend (2024-2032)
   13.3   Nigeria
       13.3.1   Historical Trend (2018-2023)
       13.3.2   Forecast Trend (2024-2032)
   13.4   South Africa
       13.4.1   Historical Trend (2018-2023)
       13.4.2   Forecast Trend (2024-2032)
   13.5   Others
14   Market Dynamics
   14.1   SWOT Analysis
       14.1.1   Strengths
       14.1.2   Weaknesses
       14.1.3   Opportunities
       14.1.4   Threats
   14.2   Porter’s Five Forces Analysis
       14.2.1   Supplier’s Power
       14.2.2   Buyer’s Power
       14.2.3   Threat of New Entrants
       14.2.4   Degree of Rivalry
       14.2.5   Threat of Substitutes
   14.3   Key Indicators for Demand
   14.4   Key Indicators for Price
15   Competitive Landscape
   15.1   Market Structure
   15.2   Company Profiles
       15.2.1   Broadcom, Inc.
           15.2.1.1   Company Overview
           15.2.1.2   Product Portfolio
           15.2.1.3   Demographic Reach and Achievements
           15.2.1.4   Certifications
       15.2.2   Secureworks Inc.
           15.2.2.1   Company Overview
           15.2.2.2   Product Portfolio
           15.2.2.3   Demographic Reach and Achievements
           15.2.2.4   Certifications
       15.2.3   Fortra, LLC
           15.2.3.1   Company Overview
           15.2.3.2   Product Portfolio
           15.2.3.3   Demographic Reach and Achievements
           15.2.3.4   Certifications
       15.2.4   Trustwave Holdings, Inc.
           15.2.4.1   Company Overview
           15.2.4.2   Product Portfolio
           15.2.4.3   Demographic Reach and Achievements
           15.2.4.4   Certifications
       15.2.5   Verizon Communications Inc.
           15.2.5.1   Company Overview
           15.2.5.2   Product Portfolio
           15.2.5.3   Demographic Reach and Achievements
           15.2.5.4   Certifications
       15.2.6   BAE Systems plc
           15.2.6.1   Company Overview
           15.2.6.2   Product Portfolio
           15.2.6.3   Demographic Reach and Achievements
           15.2.6.4   Certifications
       15.2.7   IBM Corporation
           15.2.7.1   Company Overview
           15.2.7.2   Product Portfolio
           15.2.7.3   Demographic Reach and Achievements
           15.2.7.4   Certifications
       15.2.8   Wipro Limited
           15.2.8.1   Company Overview
           15.2.8.2   Product Portfolio
           15.2.8.3   Demographic Reach and Achievements
           15.2.8.4   Certifications
       15.2.9   Cisco Systems, Inc.
           15.2.9.1   Company Overview
           15.2.9.2   Product Portfolio
           15.2.9.3   Demographic Reach and Achievements
           15.2.9.4   Certifications
       15.2.10   Others
16   Key Trends and Developments in the Market

List of Key Figures and Tables

1.   Global Managed Security Services Market: Key Industry Highlights, 2018 and 2032
2.   Global Managed Security Services Historical Market: Breakup by Deployment Type (USD MillionBillion), 2018-2023
3.   Global Managed Security Services Market Forecast: Breakup by Deployment Type (USD MillionBillion), 2024-2032
4.   Global Managed Security Services Historical Market: Breakup by Service Type (USD MillionBillion), 2018-2023
5.   Global Managed Security Services Market Forecast: Breakup by Service Type (USD MillionBillion), 2024-2032
6.   Global Managed Security Services Historical Market: Breakup by Security Type (USD MillionBillion), 2018-2023
7.   Global Managed Security Services Market Forecast: Breakup by Security Type (USD MillionBillion), 2024-2032
8.   Global Managed Security Services Historical Market: Breakup by Service Provider (USD MillionBillion), 2018-2023
9.   Global Managed Security Services Market Forecast: Breakup by Service Provider (USD MillionBillion), 2024-2032
10.   Global Managed Security Services Historical Market: Breakup by End Use (USD MillionBillion), 2018-2023
11.   Global Managed Security Services Market Forecast: Breakup by End Use (USD MillionBillion), 2024-2032
12.   Global Managed Security Services Historical Market: Breakup by Region (USD MillionBillion), 2018-2023
13.   Global Managed Security Services Market Forecast: Breakup by Region (USD MillionBillion), 2024-2032
14.   North America Managed Security Services Historical Market: Breakup by Country (USD MillionBillion), 2018-2023
15.   North America Managed Security Services Market Forecast: Breakup by Country (USD MillionBillion), 2024-2032
16.   Europe Managed Security Services Historical Market: Breakup by Country (USD MillionBillion), 2018-2023
17.   Europe Managed Security Services Market Forecast: Breakup by Country (USD MillionBillion), 2024-2032
18.   Asia Pacific Managed Security Services Historical Market: Breakup by Country (USD MillionBillion), 2018-2023
19.   Asia Pacific Managed Security Services Market Forecast: Breakup by Country (USD MillionBillion), 2024-2032
20.   Latin America Managed Security Services Historical Market: Breakup by Country (USD MillionBillion), 2018-2023
21.   Latin America Managed Security Services Market Forecast: Breakup by Country (USD MillionBillion), 2024-2032
22.   Middle East and Africa Managed Security Services Historical Market: Breakup by Country (USD MillionBillion), 2018-2023
23.   Middle East and Africa Managed Security Services Market Forecast: Breakup by Country (USD MillionBillion), 2024-2032
24.   Global Managed Security Services Market Structure

Key Questions Answered in the Report

What was the global managed security services market value in 2023?

In 2023, the market reached an approximate value of USD 31.67 billion.

What is the growth rate of the global managed security services market?

The market is projected to grow at a CAGR of 13.5% between 2024 and 2032.

What is the forecast outlook of the global managed security services market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 99 billion by 2032.

What are the major market drivers?

The market is driven by the increasing frequency of cyber threats and the development of advanced threat detection and response capabilities.

What are the major trends in the market?

The growing adoption of cloud technology in managed security services and the rising demand for managed detection and response solutions are aiding the growth of the market.

What are the major regional markets for managed security services, according to the EMR report?

The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Who are the major service providers?

The different service providers include managed security specialists, IT services providers, and telecom service providers.

Who are the key market players, according to the global managed security services market report?

The key players in the market include Broadcom, Inc., Secureworks Inc., Fortra, LLC, Trustwave Holdings, Inc., Verizon Communications Inc., BAE Systems plc, IBM Corporation, Wipro Limited, and Cisco Systems, Inc., among others.

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