The Europe Managed Security Services Market would witness market growth of 14.7% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Managed Security Services Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $6,019.9 million by 2031. The UK market is exhibiting a CAGR of 13.7% during (2024 - 2031). Additionally, The France market would experience a CAGR of 15.6% during (2024 - 2031).
Organizations often struggle to keep track of vulnerabilities within their systems. Managed security service (MSS) providers offer vulnerability assessments and management services, helping organizations identify weaknesses in their networks and applications, prioritize them based on risk, and implement effective remediation strategies.
Endpoint security has become paramount with the rise of remote work and BYOD (Bring Your Own Device) policies. MSS providers deliver endpoint protection solutions, including antivirus, anti-malware, and endpoint detection and response (EDR) capabilities, ensuring that all devices connected to the corporate network are secure. Regulatory requirements around data protection, such as GDPR, HIPAA, and PCI-DSS, necessitate ongoing compliance efforts.
The rise of cyberattacks in Europe has become a pressing concern, significantly impacting this market. Ransomware, in particular, has emerged as one of the most formidable threats, with over ten terabytes of data being stolen each month across the European Union. This alarming trend underscores the growing sophistication of cybercriminals and the urgent need for organizations to bolster their security measures. As businesses grapple with the ramifications of these attacks, the demand for MSS is escalating as companies seek expert guidance and advanced solutions to protect their digital assets. Therefore, the rising incidence of cyberattacks in Europe catalyzes a shift in the cybersecurity landscape, positioning the managed security services market for significant expansion.
Free Valuable Insights: The Global Managed Security Services Market will Hit USD 85.9 Billion by 2031, at a CAGR of 15.2%
Based on Enterprise Size, the market is segmented into Large enterprises, and SMEs. Based on Services, the market is segmented into Managed UTM, Managed SIEM, Managed DDoS, Managed XDR, Managed IAM, and Managed Risk & Compliance. Based on Security, the market is segmented into Cloud Security, Data Security, End-point Security, Network Security, and Other Security. Based on Vertical, the market is segmented into BFSI, Healthcare, Manufacturing, IT & Telecommunications, Retail, Defense/Government, and Other Vertical. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Enterprise Size
By Services
By Security
By Vertical
By Country
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