Managed Security Services Market Size, Share, Trends, Analysis and Forecasts by Region, Organization Size (Micro, Small, Medium, Large, Very Large), Vertical (BFSI, Manufacturing, Information Technology, Retail, Energy, Government, Transport and Logistics, Others), and Segment Forecast 2022-2026
Managed Security Services Market Overview
The managed security services (MSS) market size was valued at US$51.5 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 11.1% during 2022-2026. The increase in severity and number of cyberattacks backed by the cost efficiency of managed security services are some of the prominent factors fueling the managed security services market growth.
Managed Security Services Market Outlook, 2021-2026
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The growing global IT threat levels will be one of the key drivers in the adoption of MSS services. New types of threats are emerging such as coin miners and more sophisticated types of ransomware such as NotPetya and WannaCry. This will increase the probability of businesses being susceptible to IT security breaches and more likely to engage with MSS, particularly because many may not have the necessary knowledge and expertise in-house.
The European MSS market acquired the highest market share accounting for more than 25% in the year 2021. The dominance of the region is characterized by the presence of some of the leading managed security services companies globally such as Atos SE, Capgemini SE, and Orange SA among others.
The managed security services product class covers the market for managed and consultative security solutions delivered by global and regional providers that target enterprise and MNC customers. Managed security services providers’ (MSSPs) personnel resources, technology infrastructure, expertise in protecting client environments, managing customer security devices, supplying compliance solutions, and delivering consultative support are analyzed and benchmarked.
Managing client security technology including firewalls, intrusion detection systems/intrusion prevention systems (IDS/IDP), unified threat management (UTM), and security information and event management (SIEM) solutions is table stakes for MSSPs, which also can provide more advanced threat intelligence that relies on sophisticated analytics, correlation, and cognitive technology. Providers also offer governance, risk, and compliance management; emergency incident response and forensic services; and architecture consulting and ongoing testing.
MSSPs can deliver services from an off-site location, via the cloud, or by implementing security technology which clients manage. The dominant providers in the space have the infrastructure, technology, expertise, and manpower to support highly distributed organizations across multiple regions. Top-tier MSSPs can also draw on extensive vertical expertise to support clients’ specific security and compliance requirements
Managed security services often act as all-in-one solution when it comes to organizational security. MSSs provide protection against network breaches, password hacks, ransomwares, and virus attacks among others to organizations of all sizes. Although the penetration of MSSs is comparatively higher in large and very large companies, with substantial reduction in costs and improved efficiency, they are anticipated to gain traction amongst smaller companies over the forecast period.
According to GlobalData estimates, the managed security services market will grow from US$51.5 billion in 2021 to US$87.2 billion in 2026 at a CAGR of 11.1%.
Managed Security Services Market - COVID-19 Impact
The COVID-19 pandemic has transformed the way organization operate forcing employees to work remotely, bringing numerous security challenges. Cybercriminals taking advantage of the situation are hitting weak security home networks and then laterally moving to business networks to launch ransomware attacks. Malicious software is delivered in the form of email attachment or link to infect the network and the email, files and other data sources are locked until a ransom is paid.
The ongoing research work due to spike in ransomware attack amid COVID-19 pandemic suggests there are more than 70 ransomware incidents causing chaos across healthcare, government, and education organizations. Consequently, the enterprises are forced to focus on cybersecurity measure to safeguard company data, employee, and consumer data privacy.
Managed Security Services Market Segmentation by Organization Size
The managed security services market can be categorized into Micro, Small, Medium, Large, Very Large segments based on organization size.
As of 2021, the Very Large (5000+ employees) organization segment captured the highest share owing to the susceptibility of very large companies to fall prey to cyberattacks sheerly due to the higher number of employees. The larger companies usually have not been observed to train their employees to deal with expected cyberattacks in the form of phishing links, emails, and external software/applications among others. And since these large companies cannot afford to lose their sensitive data, they are the forerunners in deploying MSSs. The Very Large segment was valued at US$14.1 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of more than 10% by 2026.
Managed Security Services Market Share by Organization Size, 2021 (%)
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Managed Security Services Market Segmentation by Vertical
The vertical segment in the managed security services market includes BFSI, Manufacturing, Information Technology, Retail, Energy, Government, Transport & Logistics, Others. The BFSI segment captured the largest market share at 14.0% and is anticipated to grow at a CAGR of more than 9% over the forecast period.
Managed Security Services Market Share by Vertical, 2021 (%)
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The growth of the BFSI segment is attributed to criticality of MSSs in banking and finance sector. Institutions such as banks deploy sophisticated security systems to prevent their customer accounts from illegal fund transfers and password hacks. The information technology segment too is anticipated to witness a steady growth of more than 10% over the forecast period.
Managed Security Services Market Analysis by Region
The Europe’s managed security services market value was the highest in 2021, capturing over 25% of the overall market size. The regional demand was led by rapid adoption of managed security services solutions in countries such as UK, Germany, and France among others.
Europe Managed Security Services Market Share by Country, 2021 (%)
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North America is projected to surpass the European market by 2026 accounting for over 20% of the global managed security services market value, with a forecasted growth rate exceeding 10% from 2022 to 2026. The North American region is characterized by a strong inclination towards rapid digital transformation and implementation of technologies such as AI, ML, IoT, and VR among others. The region that includes nations such as the US, Canada and Mexico has the highest number of MSSs providers. Furthermore, stringent, and well-defined government regulations related to security infrastructure to be adopted by companies is anticipated to drive regional growth over the forecast period.
Managed Security Services Market - Competitive Landscape
The managed security services industry is moderately fragmented. However, with the growth of start-ups and new venture launches the competition is gradually intensifying. Key players in the managed security services market include AT&T Inc, Atos SE, Capgemini SE, Wipro Ltd, and Tata Communications Ltd among others. Mergers and acquisitions form a major part of the managed security services competitive environment since many of the vendors collaborate to provide advanced and secure MSS solutions to clients in competitive environment.
Leading Players in the Managed Security Services Market
- AT&T Inc
- Atos SE
- NTT DATA Corp
- DXC Technology Co
- HCL Technologies Ltd
- Verizon Communications Inc
- Capgemini SE
- Orange SA
- Wipro Ltd
Other Managed Security Services Market Vendors Mentioned
BT Group Plc, T-Systems International GmbH, Tata Communications Ltd, Telefonica SA, Centurylink Communications UK Ltd, Masergy Communications Inc, Cisco Systems Inc, and SecureWorks Corp.
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Managed Security Services Market Research Overview
| Market Size (2021) | US$51.5 billion |
| Market Size (2026) | US$87.2 billion |
| CAGR (2022-2026) | 11.1% |
| Forecast Period | 2022-2026 |
| Historic Period | 2019-2021 |
| Report Scope & Coverage | Revenue Forecast, Competitive Index, Company Market Share, Growth Trends |
| Organization Size Segment | Micro (Less than 50), Small (51-250), Medium (251-1000), Large (1001-4999), Very Large (5000+) |
| Vertical Segment | BFSI, Manufacturing, Information Technology, Retail, Energy, Government, Transport & Logistics, Others |
| Key Companies | AT&T Inc, Atos SE, NTT DATA Corp, DXC Technology Co, HCL Technologies Ltd, Verizon Communications Inc, Capgemini SE, Orange SA, and Wipro Ltd |
Managed Security Services Market Scope
GlobalData Plc has segmented the managed security services market report by organization size, vertical, and region:
Managed Security Services Organization Size Outlook (Revenue, USD Million, 2019-2026)
- Micro (Less than 50)
- Small (51-250)
- Medium (251-1000)
- Large (1001-4999)
- Very Large (5000+)
Managed Security Services Vertical Outlook (Revenue, USD Million, 2019-2026)
- BFSI
- Information Technology
- Manufacturing
- Retail
- Energy
- Government
- Transport & Logistics
- Others
Managed Security Services Regional Outlook (Revenue, USD Million, 2019-2026)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Rest of Asia Pacific
- South & Central America
- Brazil
- Argentina
- Chile
- Rest of South & Central America
- Middle East & Africa
- United Arab Emirates (UAE)
- Kingdom of Saudi Arabia (KSA)
- South Africa
- Rest of Middle East & Africa
The market intelligence report provides an in-depth analysis of the following –
- Managed security services market outlook: analysis as well as historical figures and forecasts of revenue opportunities from the organization size, vertical, and regional segments.
- The competitive landscape: an examination of the positioning of leading players in the managed security services market.
- Company snapshots: analysis of the market position of leading service providers in the managed security services market.
- Underlying assumptions behind our published base-case forecasts, as well as potential market developments that would alter, either positively or negatively, our base-case outlook.
Reasons to Buy
- This market intelligence report offers a thorough, forward-looking analysis of the global managed security services market by channel type, business model, spend category, and key opportunities in a concise format to help executives build proactive and profitable growth strategies.
- Accompanying GlobalData’s Forecast products, the report examines the assumptions and drivers behind ongoing and upcoming trends in managed security services markets.
- Porter’s five forces analysis: demonstrates the strength of suppliers and buyers along with market competition in the market.
- The report includes market size and forecasts for key organization size segments (Micro (Less than 50), Small (51-250), Medium (251-1000), Large (1001-4999), Very Large (5000+).
- The report includes market size and forecasts for key vertical segments (BFSI, Manufacturing, Information Technology, Retail, Energy, Government, Transport & Logistics, Others).
- With more than 100 charts and tables, the report is designed for an executive-level audience, boasting presentation quality.
- The report provides an easily digestible market assessment for decision-makers built around in-depth information gathered from local market players, which enables executives to quickly get up to speed with the current and emerging trends in managed security services markets.
- The broad perspective of the report coupled with comprehensive, actionable detail will help stakeholders, service providers, and other managed security services players succeed in growing the managed security services market globally.
Key Players
Table of Contents
List of Tables
List of Figures
Frequently Asked Questions
The managed security services market size was valued at US$51.5 billion in 2021.
The managed security services market size is expected to reach US$87.2 billion by 2026.
The managed security services market is expected to grow at a CAGR of 11.1% during the forecast period (2021-2026).
Increase in severity and number of cyberattacks backed by the cost efficiency of managed security services are some of the prominent factors fueling the growth of the managed security services market.
Organization Size: Micro (Less than 50), Small (51-250), Medium (251-1000), Large (1001-4999), Very Large (5000+
Vertical: BFSI, Information Technology, Manufacturing, Retail, Energy, Government, Transport & Logistics, and Others
Some of the leading companies in the managed security services market are AT&T Inc, Atos SE, NTT DATA Corp, DXC Technology Co, HCL Technologies Ltd, Verizon Communications Inc, Capgemini SE, Orange SA, and Wipro Ltd.
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