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(EMAILWIRE.COM, September 08, 2018 ) The Global Managed Security Services Market is accounted for $20.22 billion in 2016 and is expected to reach $55.10 billion by 2023 growing at a CAGR of 15.3% during the forecast period. Factors such as security staff and budget constraints, rising integration of biometric sensors in security-based applications and increasing remote management tools are fuelling the market growth. However, lack of trust in third-party applications, reluctance to share sensitive data and varying customer demands regarding security package are hampering the market. Moreover, the trend of BYOD acceptance at workplaces to get better productivity by allowing the employees to access corporate data via personal devices has been rising.
Some of the key players of the Managed Security Services market include:
BT Group, Verizon Communications, Inc., Fortinet Inc, Cisco Systems Inc., Dell Secure Works Inc., Symantec Corporation, Computer Science Corporation (CSC), AT&T Inc., Hewlett Packard, International Business Machines Corporation (IBM), Solutionary, Inc., Centurylink, Inc., Secureworks, Inc., Trustwave Holdings, Inc. and Rapid7 Inc.
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A Managed Security Service is an efficient approach to deal with an organization's security needs. The services can be handled in house or outsourced to a service provider that oversees other companys network and information system security. Functions of a managed security service include performing security assessments and security audits, management of intrusion detection systems and round-the-clock monitoring and firewalls, responding to emergencies and overseeing patch management and upgrades.
Banking, Financial Services and Insurance, is expected to hold significant market growth during the forecast period due to rapid changes in customer activities, where consumers are using bank applications across various platforms making the vertical highly susceptible to attacks. Asia-Pacific is likely to grow at a highest market growth during the forecast period which can be attributed to security attentiveness and importance to preserve the brand image would contribute the increasing demand for services from various sectors in this region.
Furthermore, consumption market share for each application is offered in the research for 2017 in a tabular format. Regional analysis is discussed in terms of current market status and growth prospects for the period, 20122023. Geographies analyzed in the study are North America, Europe, Asia Pacific, South America and Middle East & Africa. Statistics on revenue and growth rate for each region are mentioned with the help of figures for the historic period and the forecast period.
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Deployment Models Covered:
Organisaton Sizes Covered:
Small And Medium Sized Business
Identity and Access Management
Managed Security Information and Event Management
Distributed Denial of Service
Unified Threat Management
Managed Intrusion Detection/Prevention System
End Users Covered:
Energy and Utilities
Retail and Consumer Packaged Goods
Telecom and IT
Healthcare and Life Sciences
Government and Defense
Banking, Financial Services, and Insurance
Other End Users
Table of Contents
1 Executive Summary
3 Market Trend Analysis
4 Porters Five Force Analysis
5 Global Managed Security Services Market, By Deployment Mode
6 Global Managed Security Services Market, By Organisaton Size
7 Global Managed Security Services Market, By Service
8 Global Managed Security Services Market, By End User
9 Global Managed Security Services Market, By Geography
10 Key Developments
11 Company Profiling
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