The global managed security services market Report reached USD 35.5 Billion in 2024 and is projected to grow to USD 94.6 Billion by 2033, exhibiting a CAGR of 10.94% during 2025 to 2033. This growth is driven by increasing cybersecurity threats, stringent regulatory compliance needs, and the growing importance of scalability and cost-efficiency in organizations. For detailed insights, visit the Managed Security Services Market.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
Managed Security Services Market Key Takeaways
- Current Market Size in 2024: USD 35.5 Billion
- CAGR (2025-2033): 10.94%
- Forecast Period: 2025-2033
- The rising need for continuous monitoring and immediate incident response to cybersecurity threats is a major market driver.
- Growing preference of organizations to focus on core competencies by outsourcing security operations fuels demand.
- Cloud computing adoption and IoT device expansion positively influence market growth.
- North America dominates with the largest market share, driven by advanced digital infrastructure and cyber threat prevalence.
- Shortage of cybersecurity professionals and complexity in integrating MSS with existing IT systems pose challenges.
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Market Growth Factors
The necessity for very quick reactions to incidents as well as constant monitoring in situations of data breaches and cyberattacks is the major factor that leads to an increased demand for managed security services. Detection of threats and rapid response to them is what most organizations want, a job that MSSPs do very efficiently. Besides that, companies want to move security management out of their area so that they can focus on their core business activities and hence they entrust the security management to the MSSPs so as to get an operational efficiency boost.
Cloud computing is becoming more and more popular. This, in turn, is good for the managed security services because it gives them the possibility of offering solutions that are scalable, flexible, and remotely accessible for secured data and systems no matter where the client is located. Moreover, the increase in IoT devices usage is a new challenge for security that can be only solved by hiring managed security services. This is because these services have enough resources and skills to deal with coming security problems in such complicated, decentralized networks or in regulatory compliance, risk management, and security posture enhancement.
Regulations such as GDPR, CCPA, and PIPEDA have been a major factor in the rise of the compliance requirements for data protection and cyber security in different sectors, with BFSI being the most affected one. Providers of managed security services are ready to support organizations in fulfilling these complex regulatory demands by implementing secure measures that are robust. The collaboration and partnerships between MSS providers help them to improve their capabilities, thus, they can provide better security outcomes, fast innovation, and as a result, market expansion.
Market Segmentation
Breakup by Type:
- Managed SIEM: Dominates the market as organizations adopt it to improve threat detection and response capabilities while complying with regulations such as HIPAA and GDPR.
- Managed UTM
- Managed DDoS
- Managed XDR
- Managed IAM
- Managed Risk and Compliance
- Others
Breakup by Deployment Mode:
- On-premises
- Cloud-based: Largest segment due to scalability, flexibility, and remote data accessibility benefits.
Breakup by Enterprises Size:
- Small and Medium-Sized Enterprises
- Large Enterprises: Largest segment driven by outsourcing preference and complex IT environments requiring comprehensive security management.
Breakup by Vertical:
- BFSI: Largest vertical segment due to regulatory demands and the need to protect sensitive financial data and comply with standards like PCI DSS.
- Healthcare
- Manufacturing
- IT and Telecom
- Retail
- Defense/Government
- Others
Breakup by Region:
- North America: Dominant market share with significant factors including advanced digital infrastructure, high cyber threat prevalence, widespread BYOD adoption, and tailored IT solutions.
- United States
- Canada
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Regional Insights
Due to an advanced digital infrastructure and high cyber threat incidents like ransomware and data breaches, North America has the most significant managed security services market. The region enjoys a condition that is highly conducive to streamlined IT operations. Moreover, the prevalent adoption of BYOD (Bring Your Own Device) policies adds to the situation. Companies in North America are more and more willing to go for IT solutions that are tailor-made to their business which leads to continuous market growth.
Recent Developments & News
- February 2024: Accenture invested through Accenture Ventures in Tenchi Security, enhancing its managed security services with Tenchi's SaaS platform to manage cyber risks in supply chains.
- January 2024: Kyndryl partnered with Cisco to develop security edge services improving customer security controls and proactive incident response.
- January 2024: Judy Security and Strike Graph formed a strategic partnership to manage cybersecurity and compliance operations for small and medium businesses.
Key Players
- AT&T Inc.
- Atos SE
- BAE Systems plc
- Broadcom Inc.
- BT Group plc
- Capgemini SE
- DXC Technology Company
- International Business Machines Corporation
- SecureWorks Inc. (Dell Inc)
- Trustwave Holdings, Inc.
- Verizon
- Wipro Limited
Customization Note
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