July 13, 2020, 5:16 a.m. EDT

Industry Dynamics: What Makes Managed Security Services Market Outperforming Its Substitutes Despite COVID-19 Chaos?

Jul 13, 2020 (Stockestic via COMTEX) -- The outbreak of Coronavirus disease has created a significant impact on the global managed security services market. The cloud segment is projected to foresee substantial
growth in the global market. The small & medium-sized enterprises are expected to achieve newer heights. The North-America region will have a dominating market share during the forecast timeframe. The industry players of the market are following numerous strategies to sustain in the COVID-19 crisis situation.

The outbreak of the coronavirus has imposed a positive impact on the managed security services market, during the forecast timeframe. Managed security services are the third-party IT security provider that provides data safety on the web, as per cybersecurity measures. The extensively increasing as well as evolving cybersecurity threats is one of the significant factors for the growth in the demand for managed security services (MSS), during the forecast period. Though the COVID-19 pandemic has created a dramatically negative impact on industrial activities such as logistics & supply chain disruption, several key players across the world are taking initiative to support other businesses.

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For instance, Infosys, a global leader in next-generation digital services and consulting, is offering MSS to clients across the countries from its 7 cyber defense centers. In addition, Foresite, a global managed security and consulting solution provider, is also offering 'provision managed security services platform' to curb the cyber attacks a mind COVID-19 pandemic. These factors may significantly surge the growth of global managed security services in the global market. This report is designed to guide leaders in strategic, operational, and financial planning over, the next upcoming years.

Our report consists of:

• Technological Impact
• Social Impact
• Investment Opportunity Analysis
• Pre- & Post-COVID Market Scenario
• Infrastructure Analysis
• Supply Side & Demand Side Impact

The report segments the global market on the basis of deployment mode, organization size, vertical and region. This report provide an in-depth analysis of drivers, lucrative opportunities, key segments, restraint factors, and key players of the market.

Factors Affecting the Market Growth

As per the publication of Research dive, the exponential growth of managed security services is majorly attributed to growth in the competitive and malpractices performed
over the internet via web intrusions, spam, and viruses. On the other hand, the dearth of professionals in the field may be expected to obstruct the growth of the global managed security services, during the forecast period.

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Cloud segment will have substantial growth in the global marketplace

Based on the mode, the global market for managed security services is classified into the cloud and on-premises. The managed service providers are projected to witness huge growth in the forecast period. Cost-effectiveness, user-friendliness, and reliability are some of the driving factors that may increase the demand for the segment, throughout the analysis period.

A Large enterprise will Foresee Massive Growth

Depending on the organization size, the global managed security services market is categorized into large enterprises and small & medium-sized enterprises. The small & medium-sized enterprises segment is expected to surge with a noteworthy CAGR, mainly due to enormous growth in the cyberattacks across the MSMEs.

Healthcare segment is projected to be the Most Profitable segments During the forecast period

Based on the vertical, the global managed security services market is broadly categorized into financial services and insurance, banking, healthcare, retail, utilities manufacturing, government, telecom, and others. The healthcare segment shall have the rapid market growth during the forecast timeframe; mainly because of confidentiality issues along with threats of cyberattacks over leak risks of research work, patient information, medicines, and funds.

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Regional Breakdown of the Market

Depending on the region, the global market managed security services market is segmented into North America, Asia-Pacific, Europe, and LAMEA. North America region for
the managed security services market is anticipated to increase at a considerable CAGR in the forecast period. This is mainly because of the presence of market leaders such as
IBM, Verizon, and Cognizant in the region.

The established key players in the managed security services market include SecureWorks, Inc., Trustwave Holdings, Inc., INTERNATIONAL BUSINESS MACHINES CORPORATION, DXC Technology Company, Alert Logic, Inc., Broadcom., Wipro Limited, BAE Systems., Verizon and NTT Limited.

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