IT Managed Security Services
IT Managed security services provide an organization with cybersecurity monitoring and management. This is generally outsourced.
AI-powered self-service platform for all your sourcing decision needs across 1,600+ categories llike IT Managed Security Services.
Market Data, Sourcing & Supplier Intelligence, and Price & Cost Benchmarking.
IT Security spending in Asia Pacific forecasted to be over USD 31 billion in 2022August 18, 2022
European Union introduces Cyber Resilience Act for all smart devicesSeptember 20, 2022
Crowdstrike agrees to acquire Reposify Ltd.September 21, 2022
Become a Beroe LiVE.Ai™ Subscriber to receive proactive alerts on IT Managed Security Services
IT Managed Security Services Market Monitoring Dashboard
Understand the correlation between costs, margins, and prices impacting your category on a real time basis on Beroe LiVE.Ai™
IT Managed Security Services Industry Benchmarks
The average annual savings achieved in IT Managed Security Services category is 5.90%
The industry average payment terms in IT Managed Security Services category for the current quarter is 75.0 days
Compare your category performance against peers and industry benchmarks across 20+ parameters on Beroe LiVE.Ai™
Category Strategy and Flexibility
Price per Unit Competitiveness
Minimum Order Quality
The World’s first Digital Market Analyst
The World’s first Digital Market Analyst
Abi, the AI-powered digital assistant brings together data, insights, and intelligence for faster answers to sourcing questions
IT Managed Security Services Suppliers
Find the right-fit it managed security services supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.
Use the IT Managed Security Services market, supplier and price information for category strategy creation and Quaterly Business Reviews (QRBs)
IT Managed Security Services market report transcript
Global Managed Security Services Industry Outlook
- The global MSSP market was valued at $27.7 billion in 2019. The market is being impacted by Covid and is anticipated to see a stagnation.
Previously the market was expected to grow at a CAGR of 14-15 percent until 2024. Now the CAGR would reduce to CAGR 11-12 percent during the same period.
- 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
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
- 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
The managed security services market is characterized by medium power for buyers and suppliers, high barriers to new entry, high intensity of rivalry and low threat of substitutes.
The entry of cloud-based security service providers is expected to further increase competition in the global managed security services market.
Security services are the key for any enterprise and cannot be substituted. However, buyers can opt to maintain their security categories in-house.
The managed security service market is highly fragmented; however, in recent years, smaller, pure play security service providers have been subjected to acquisition by large telecom providers and service providers.
Cloud-based services are typically procured on a monthly subscription basis, whereas on-premise services will have an upfront component and recurring cost.
Why You Should Buy This Report
- It details about the managed security services market size, maturity, industry trends, drivers and constraints, etc.
- It gives the regional market outlook on North America, Europe, MEA, APAC regions and the global Porter’s five force analysis.
- It lists out the new technology trends in the managed security services market and gives insight into supplier landscape, capabilities and does SWOT analysis of key players like AT&T, Dell (SecureWorks), etc.
- The report gives the cost and pricing analysis and lists out the best sourcing models and contracting practices in the global managed security services market