Global managed cyber security services market will remain positive over the next couple of years. Between 2016 and 2026, the market is expected to surge at over 15% CAGR.
As the businesses try to halt increasingly sophisticated cyber-attacks, the managed security services market is expected to grow. Also, growing incidences of data breaches and malware attacks in various financial and banking institutions will continue to impact the growth of global managed cybersecurity services market positively.
These findings has been clearly stated in a new study titled “Managed Cyber Security Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2026”, which has been publicized to the wide repository of Market Research Hub (MRH). This 170-page in-depth report reveals insight into the crucial aspects of the global managed cyber security services market on the growth patterns, important segments, competitive landscape and factors fueling growth of the global market.
Also, the market has been segmented into six regions: North America, Latin America, Europe, Japan, APEJ and MEA. For each regional segment, the market size for future years has been analyzed which is based on revenue and market development between 2017 and 2026.
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Initially, the report begins with an executive summary that shares key information of the report such as revenue, historical CAGR from 2012 to 2016 as well as forecasted CAGR from 2017 to 2026. According to the research major evaluations, revenue from the global managed cyber security services is expected to reach about US$ 63,524.5 million by the end of 2026.
Apart from that, the market is projected to register notable 15.6% CAGR during the forecast period.
Key Factors Impacting the Market Growth
Currently, increasing number of companies are hiring managed cyber security services. Also, companies are looking for unified cyber solutions with advanced threat protection capability and real-time security intelligence.
Increasing enterprise mobility, adoption of Internet of Things (IoT) and the rise in Bring Your Own Device (BYOD) trend is driving the need for managed cyber security solutions as well as information security solutions.
In recent years, the adoption of managed services has tremendous owing to their cutting-edge features and functionalities that facilitate high-quality service delivery to users. This has been a major aspect in driving the demand for managed cyber security solutions.
Also, managed cyber security solutions can help in lowering the IT Budget, provide high levels of responsiveness, and ensure faster troubleshooting. Increasing adoption of cloud computing, data analytics,., by small and mid-sized businesses, is also leading to the significant growth of managed cyber security services.
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Further, the market has been analyzed on the basis of segments such as end-user, application and region. Based on the end-user, the market is segmented into discrete manufacturing, government agencies, BFSI, healthcare, energy & utility, telecommunication, and others.
Among these, discrete manufacturing is expected to emerge as one of the largest users between 2017 and 2026. In terms of geography, North America is one of the leading cyber security revenue contributors followed by Europe.
The study has further outlined key players in the global managed cyber security services market which are SecureWorks, Assuria, CNS Group, IBM Corporation, Symantec, Proficio, Accenture, Tata Consultancy Services, Optiv and Honeywell.
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