The Worldwide Managed Security Services Market is Projected to reach USD 85.9 Billion by 2031, at a CAGR of 15.2%

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Managed Security Services Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Managed Security Services Market size is expected to reach $85.9 billion by 2031, rising at a market growth of 15.2% CAGR during the forecast period.

The demand for managed detection and response (MDR) services has risen as organizations seek proactive threat hunting and rapid incident response. MDR services combine technology and human expertise to detect and mitigate threats before they can escalate. With the rapid adoption of cloud services, the managed security services market increasingly emphasizes cloud security. Providers are developing specialized offerings to protect cloud environments and applications, ensuring secure configurations and compliance.

Managed Security Services Market Size - By Region

The Large enterprises segment captured the maximum revenue in the Global Managed Security Services Market by Enterprise Size in 2023, thereby, achieving a market value of $46 billion by 2031. This dominance can be attributed to larger organizations’ complex security needs and extensive IT infrastructures, which often face a higher volume and variety of cyber threats. Large enterprises typically have significant resources, allowing them to invest in comprehensive managed security services to protect their vast amounts of sensitive data and critical systems.

The Managed UTM segment is experiencing a CAGR of 14.3 % during the forecast period. UTM solutions offer a comprehensive approach to cybersecurity by integrating multiple security features, such as firewall, intrusion detection, antivirus, and content filtering, into a single platform. As organizations seek to simplify their security operations and reduce the complexity of managing disparate security tools, the demand for managed UTM services has increased.

The Cloud Security segment led the maximum revenue in the Global Managed Security Services Market by Security in 2023, thereby, achieving a market value of $25.2 billion by 2031. This growth is largely driven by the increasing adoption of cloud-based solutions among organizations seeking to enhance their security posture. As businesses transition to cloud environments, they prioritize protecting sensitive data and applications from potential cyber threats.

The BFSI segment is growing at a CAGR of 12.8 % during the forecast period. This significant share is largely driven by the increasing volume of sensitive financial transactions and the heightened risk of cyber threats targeting financial institutions. As cybercriminals become more sophisticated, BFSI organizations must implement robust security measures to protect their data, maintain customer trust, and comply with stringent regulatory requirements.

Full Report: https://www.kbvresearch.com/managed-security-services-market/

The North America region dominated the Global Managed Security Services Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $27.9 billion by 2031. The Europe region is anticipated to grow at a CAGR of 14.7% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 15.7% during (2024 - 2031).

List of Key Companies Profiled

IBM Corporation
Cisco Systems, Inc.
Check Point Software Technologies Ltd.
Broadcom, Inc. (Symantec Corporation)
Wipro Limited
Verizon Communications, Inc.
SecureWorks Corp. (Dell Technologies, Inc.)
Accenture PLC
BT Group plc
SonicWall, Inc.

Managed Security Services Market Report Segmentation

By Enterprise Size

Large enterprises
SMEs

By Services

By Security

Cloud Security
Data Security
End-point Security
Network Security
Other Security

By Vertical

By Geography

North America
- US
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA

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The Worldwide Managed Security Services Market is Projected to reach USD 85.9 Billion by 2031, at a CAGR of 15.2%

Special Offering :

Managed Security Services Market Growth, Trends and Report Highlights

List of Key Companies Profiled

Managed Security Services Market Report Segmentation

North America Managed Security Services Market Size | 2031

LAMEA Managed Security Services Market Size Report 2031

Europe Managed Security Services Market Size Report 2031

Asia Pacific Managed Security Services Market Size | 2031