The Latin America, Middle East and Africa Managed Security Services Market would witness market growth of 18.1% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Managed Security Services Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,836.3 million by 2031. The Argentina market is showcasing a CAGR of 19.9% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 17.1% during (2024 - 2031).
Organizations increasingly recognize the value of outsourcing non-core functions, such as security, to focus on their primary business objectives. Companies can redirect their resources toward growth and innovation by partnering with MSS providers. As businesses migrate to cloud environments, they encounter new security challenges. MSS providers offer tailored solutions to protect cloud infrastructures, ensuring that data remains secure regardless of where it resides.
This market is characterized by several emerging trends reshaping the landscape. Advanced technologies such as artificial intelligence (AI) and machine learning (ML) are being integrated into these services to enhance threat detection and response capabilities. These technologies enable MSS providers to analyze vast amounts of data and more effectively identify patterns indicative of potential threats.
The rising cybersecurity sector in Saudi Arabia is profoundly impacting the growth of the managed security services market. The cybersecurity sector in Saudi Arabia was valued at $3.6 billion in 2020 and is anticipated to expand at a remarkable rate of 17.98 percent, reaching an anticipated $9.8 billion by 2026, according to the ITA. This rapid growth indicates the increasing awareness of cybersecurity risks and the urgency for organizations across various sectors to implement robust security measures. The demand for MSS is anticipated to increase as businesses in Saudi Arabia continue to digitize their operations and adopt advanced technologies. These services offer the specialized resources and expertise to guarantee regulatory compliance and safeguard sensitive data. This strategic investment reflects the UAE government’s commitment to enhancing healthcare services and infrastructure, making it a key priority sector within the nation’s broader Vision 2040 initiative. As the country aims to position itself as a regional hub for healthcare services, the demand for advanced security measures to protect sensitive patient data and healthcare systems is becoming increasingly critical. Therefore, the rising cybersecurity industry and increasing investment in the region’s healthcare sector drive growth.
Free Valuable Insights: The Worldwide Managed Security Services Market is Projected to reach 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Enterprise Size
By Services
By Security
By Vertical
By Country
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