IT Managed Security Services Market Intelligence

IT Managed Security Services Market Description

The global market for managed security services (MSP) is expected to reach $25 billion while growing at a constant CAGR of 12 to 14 percent. Cloud-based content security at present accounts for approximately 55 to 60 percent of the entire revenue of cloud-based security services and is predominantly driven by the need to support a remote/mobile workforce. The North American region is the largest and most mature managed security services markets and is closely followed by the Europen Union. The APAC and LATAM are emerging markets in this space, where APAC is anticipated to exhibit rapid growth in the next five years.

Suppliers such as IBM, Dell SecureWorks, Symantec, Verizon, NTT, AT&T, HPE, CSC, BT, Trustware, Wipro, and T-Systems are the key market players. The report also provides a regional market overview in regions such as North America, LATAM, Europe, APAC, and the MEA, along with an overview of key industry trends. The report also provides Porter’s five forces analysis on factors such as supplier power, buyer power, barriers to new entrants, the intensity of rivalry, and the threat of substitutes.

Beroe gathers intelligence through primary sources that include industry experts, researchers, and consultants, as well as current suppliers, producers and distributors. Secondary sources can include business journals, newsletters, magazines, market research data, company sources, and industry associations. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE.

Report Coverage

Global Capacity–Demand Analysis
Global Trade Dynamics
Regional Market Snapshot-North America, Europe, Asia
Cost Structure Analysis

IT Managed Security Services Market Trend, Analysis & Forecast

Category Intelligence on IT Managed Security Services covers the following

Information relating to market, supply, cost, and pricing analysis
Hard to find data on cost and TCO models, supplier details, and performance benchmarks
Macroeconomic and regional trends impacting cost, supply, and other market dynamics
Category-specific negotiation and sourcing advice

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Executive Summary

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Market Analysis

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Supply Analysis

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Cost & Pricing Analysis

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Best Practices

Global Managed Security Services Industry Outlook

The global MSSP market was valued at $11.4 billion and expected to grow at a CAGR of around 12–14 percent in the next five years and reach approximately $25 billion by 2020
Cloud-based content security currently accounts for about 55–60 percent of the total cloud-based security service revenue, and it is predominantly driven by the need to support a mobile/remote workforce

it-managed-security-services-market-size

Managed Security Services - Market Maturity

The North American region is the largest and the most mature managed security services market, which is closely followed by the European market
APAC and LATAM are the emerging markets in this market space, and APAC is expected to exhibit rapid growth in the next five years

Global Managed Security Service - Industry Trends

Currently, cloud-based content security accounts for about 55–60 percent of the total cloud-based security service revenue. Cloud-based DDoS and SIEM services are also expected to gain traction in the next 18–24 months
Most enterprises prefer to keep some of their core security functions in-house, but would prefer outsourcing security functions, such as compliance and application, and parts of network security, such as IDS/IPS, firewalls, UTM/NGFW and web application firewalls to service providers
The Big Data SIEM collaboration is expected to detect threats in real time and shorten incident response time. Automation is aimed at increasing consistency in the security processes by minimizing human error, which is one of the key reasons for security outages
Regulations governing data security are becoming increasingly stringent and complex. In order to effectively comply with the regulations, enterprises are opting to outsource segments of their security categories

Supply Trends and Insights

Global/Regional Supplier

Fragmented supply market: The managed security service market is highly fragmented; however, in recent years, smaller, pure play security service providers have been subject to acquisition by large telecom providers and service providers. Large players are looking to enhance their service offerings by adding depth to their portfolio through these acquisitions
Adoption of cloud-based security services: Reduction of operation cost, increase in ease and flexibility of deployment, faster access to product and technology updates and the growing need to support a mobile or remote workforce are some of the key drivers propelling cloud-based security services

Analytics and Automation

Role of analytics in security: Suppliers are offering a solution that makes use of analytics in information security. The integration of Big Data is expected to enable organizations to prioritize and focus on key threat sources by analysing the source data collected from various end points and reduce both risk and associated cost
Automation: Suppliers are also rolling out automation to enhance security functions in access management, configuration and change management, system monitoring and asset management

Most adopted egagement model

Most adopted engagement model: Regional sourcing is the most prevalent model, and enterprises typically opt for a partially outsourced model
Contract length: 3 – 4 years with a hardware refresh every 18 – 24 months

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