(PRWEB) December 04, 2014
The report “Managed Security Services Market – Global Forecast (2014 – 2019),” defines and segments the global market into various sub-segments with in-depth analysis and forecast of revenue. The Global Managed security services market is expected to reach $ 31.86 Billion in 2019 from $ 14.32 Billion, at a Compound Annual Growth Rate (CAGR) of 17.3%.
Browse 71 Market Data Tables with 37 Figures Spread Through 135 pages and in-depth TOC on “Managed Security Services Market”
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The managed security services (MSS) market has gained momentum and is still gaining it gradually over the years due to the constant need of organizations to prevent their IT systems and network infrastructure from cyber crimes and attacks to reduce the misleading effects of vulnerabilities. Increase in deployment of cloud services, deployment of mobile, big data trends and apps store, which are the center of attraction for the hackers, show that there will be increase in demand for security service providers. Advancements in BFSI verticals, IT and telecom and huge investments by emerging economies in APAC, MEA and LA regions on security of IT systems and infrastructure are the major drivers of this market.
In terms of region, APAC is expected to have the highest growth rate over the next five years. However, the distributed denial of service (DDoS) protection market is expected to generate the highest revenue during the forecast period. Services are gaining traction and investment from diverse vendors including AT&T, Dell secure works, CSC, Symantec, Verizon, IBM, Trustwave, Solutionary and others.
North American and European regions are expected to have the largest market size in 2014, followed by APAC with the highest growth rate. The BFSI and IT & telecom market are expected to show the dynamic growth over the five years. Due to increase in demand for managed security services, the MSSPs market also shows growth in the distributed denial of services (DDoS) protection, Security information and event management (SIEM) and managed secure web gateways (SWG) services, by the small and medium businesses for IT security.
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