Managed Cyber Security Services Market (Deployment Type - On-premises, and Cloud; Security Type - Network Security, Endpoint Security, Application Security, and Cloud Security; Service Type - Identity and Access Management, Firewall, Encryption, Unified Threat Management, SIEM & Log management, and Others; Enterprise Size - Small and medium-sized enterprises, and Large enterprises; End-use Industry - BFSI, IT & Telecom, Retail, Healthcare, Manufacturing, Government Agencies, Energy & Utility, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2032

A recent report published by Infinium Global Research on managed cyber security services market provides in-depth analysis of segments and sub-segments in the global as well as regional managed cyber security services market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional managed cyber security services market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global managed cyber security services market.

Market Insight:

The global market size of the managed cyber security services market was worth USD 31.68 billion in 2023, and it is expected to reach USD 115.18 billion in 2032, growing at the CAGR of 15.44% over the forecast period 2024-2032.

Managed security services (MSS) are offered by specialized firms or companies to assist organizations in safeguarding their digital assets, networks, and sensitive data from cyber threats. These services, which are managed by third-party providers, encompass a range of security measures and solutions. Managed cyber security services involve the strategic deployment and administration of dedicated security technologies to counter cybersecurity threats. The advantages of these services comprise continuous monitoring and support, access to advanced technology and tools, regulatory compliance, scalability, the ability to focus on core business operations, proactive threat management, enhanced incident response capabilities, and others. MSS is utilized by various industries including oil and gas, healthcare, manufacturing, financial services, electricity infrastructure and distribution, and others to protect data, comply with regulations, and uphold strong security measures. Managed cyber security services assist in preventing threats and predicting potential cyber incidents by establishing defenses against vulnerabilities and enforcing policies for safe and secure infrastructure.

The escalating frequency of cyber-attacks has sparked a greater need for managed cyber security services to mitigate data breach, propelling market growth. Businesses are increasingly turning to managed cyber security services for continuous monitoring and protection in response to the growing threat landscape, further fostering market expansion. This increase in cyber threats has led to a global rise in the utilization of managed cyber security services, driving market expansion. Additionally, these services furnish the expertise and technology necessary to effectively counter the expanding threat landscape, thereby driving their adoption across various sectors and fueling market growth. Moreover, the market for managed cybersecurity services is augmenting due to increasing adoption from the end-use industries. Business needs such services for risk management and mitigation. These services assist industries in meeting compliance requirements through specialized tools and expertise, while also aiding in regular vulnerability assessments and offering threat intelligence to mitigate risks. Furthermore, the scalability and flexibility of these services enable industries to easily adapt their security posture in response to evolving threats or business requirements, contributing to market growth. However, the growth of managed cyber security services is being hindered by high initial costs, including assessments, audits, and infrastructure expenses. Ongoing real-time monitoring and continuous threat intelligence updates also lead to higher costs, creating a barrier for small-scale businesses and organizations. Managed cybersecurity services rely on highly skilled and knowledgeable professionals, which results in significant hiring costs. Additionally, the comprehensive initial assessments, and risk evaluations, as well as the incorporation of advanced security solutions, hardware, and software installations, require substantial time and money. Furthermore, the incorporation of advanced technologies such as artificial intelligence (AI) and machine learning (ML), next-generation firewall (NGFW), and multi-factor authentication (MFA) into managed cybersecurity services is expected to create significant opportunities for the market in the coming years. These technologies will enhance threat detection, incident response, security coverage, and regulatory compliance. By utilizing advanced tools and processes, organizations will enhance their capacity to identify, prevent, and address cyber threats. The introduction of AI and ML is anticipated to lead to automation, simplifying issue resolution and improving risk management, ultimately providing comprehensive safeguarding for digital assets and paving the way for market growth.

The managed cyber security services market is dominated by the North America region, primarily due to its advanced technological infrastructure and the adoption of emerging technologies. Moreover, the region is experiencing substantial growth driven by the increasing number of leading cybersecurity companies and technology giants. Meanwhile, the Asia Pacific region is poised to achieve the highest CAGR in the upcoming years. This growth is attributed to factors such as the growing emphasis on enhancing IT infrastructure in countries such as India, China, and Japan. Furthermore, the anticipated implementation of strict government regulations aimed at providing security solutions to industries is also expected to contribute to the market's expansion in the future.

Report Scope of the Managed Cyber Security Services Market:

Segment wise revenue contribution in the global managed cyber security services market

The report on global managed cyber security services market provides a detailed analysis of segments in the market based on Deployment Type, Security Type, Service Type, Enterprise Size, and End-use Industry.

Segmentation Based on Deployment Type

·       On-premises

·       Cloud

Segmentation Based on Security Type

·       Network Security

·       Endpoint Security

·       Application Security

·       Cloud Security

Segmentation Based on Service Type

·       Identity and Access Management

·       Firewall

·       Encryption

·       Unified Threat Management

·       SIEM & Log management

·       Others

Segmentation Based on Enterprise Size

·       Small and medium-sized enterprises

·       Large enterprises

Segmentation Based on End-use Industry

·       BFSI

·       IT & Telecom

·       Retail

·       Healthcare

·       Manufacturing

·       Government Agencies

·       Energy & Utility

·       Others

Company Profiled:

·       Wipro

·       Accenture

·       Microsoft

·       HCL Technologies Limited

·       Fujitsu Limited

·       Cipher Managed Security Services

·       Cisco Systems, Inc.

·       Amazon Web Services, Inc.

·       NVIDIA Corporation

·       Intel Corporation

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the managed cyber security services market. Moreover, the study highlights current market trends and provides forecasts from 2024-2032. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.