Across
the globe are concerned about data security as this is directly linked to their
brand reputation. Increasing rate of cybercrime activities, growing adoption of
mobile devices to access corporate network, and rising importance of e-business
have led to the development of effective security infrastructure with managed
security services.
Managed
Security Services Market (MSS) refer to the remote monitoring and management of
IT security functions by third-party service providers in order to effectively
protect the sensitive data of organizations. The task of information security
is becoming more complex with the growth of business in terms of size and
structure and utilization of social media, cloud services, big data and various
computing devices. Rising number of security attacks and malicious practices by
organized cybercriminal groups has been creating concerns among the
organizations across all industry sectors. In addition, increased complexities
in network infrastructure are proving to be major hindrances in data security
management.
The managed security services market focuses on various applications which include
managed IPS/IDS, DDoS, UTM, firewall management, endpoint security, and others.
IPS/IDS constitute the highest market share as the they provide protection to
any sized networks. The combined package of IDS and IPS solution provides the
features of both solutions in single package. Nonetheless, Endpoint security
application is witnessing growth with the rise in application of mobile devices
to access corporate network.
Generally,
managed security services are delivered in two basic modelson-premise or
customers premise equipment and cloud-based managed security service model. The
on-premise or customers premise equipment constitute the highest market share
and is preferred in cases when organization/companies are concerned about
security of sensitive information over cloud.
Source: Primary & Secondary Research, AMR Analysis
Value Chain Analysis
Rising
number of attacks and malicious practices across the world are creating
concerns about data security. Managed security service providers have emerged
as profitable options, as these help businesses in protecting corporate online
assets, password files, sensitive e-mails, and networks. Thus, managed security
services have been gaining acceptance among businesses of all sizes as the
businesses are significantly increasing spending on network security. This has
augmented the size of the network security services market segment. In
addition, the reliable, effective and affordable managed security solutions, by
the service providers help customers in protecting their information.
The
value chain of the managed security services market comprises various stages,
namely analysis of existing network, security requirement study, design of the
infrastructure, testing and integration, maintenance, and future upgradation.
The future upgradation stage involves the enhancement of existing software and
hardware. The network security services market segment is set to contribute
significantly to the managed security services market growth.
Top Winning Strategies
Today,
the managed security services are gaining importance, as data security is
becoming a prime concern. The information network of companies is continuously
facing advanced threats from various entities. In order to protect enterprises
from such attacks, leading industry players in the managed security services
market are introducing hi-tech and more secure solutions. Thus, product launch
is the most sought-after strategy adopted by the leading industry players. In
addition, partnerships and acquisitions are the other two prominent strategies
within this industry. These developments lead to an increase in overall managed
security services market size.
Top Investment Pockets
Presently,
Banking, Financial Services and Insurance sectors, are leading sectors that
outsource security tasks. The regulatory standards regarding protection of
citizens’ confidential data is compelling all banks, financial institutions to
maintain stringent data security. In addition, these institutions seek
efficient data security mechanism, to sustain their brand image. Nowadays, the
usage of electronic devices is rising in the healthcare sector in order to
improve efficiency, save cost, and improve patient safety. For instance,
practices such as electronic health records require advanced data protection to
secure patients’ data. Therefore, the healthcare sector is emerging as a
lucrative sector to invest. Among other verticals, telecom, IT & retail
sectors also deal with large amount of sensitive data that needs to be
protected. The manufacturing companies also seek advanced security solutions to
protect their intellectual property from frequent cyber-attacks. Other sectors
such as government, power, utility, and aerospace also require cost-effective
and efficient security solutions to monitor and manage information security.
Top Factors Impacting the
Market
Increasing
cybercrime activities and cost-effectiveness are some of the factors that are
expected to enhance the managed security services market size. However,
governments across the world are developing numerous stringent information
security regulations would restrict market growth. Also, growing trend of
mobile devices at workplaces would create lucrative opportunities for the
market.
Managed Security Services Market is
expected to garner $40.97 billion by 2022, registering a CAGR of 16.6% during
the forecast period 2016-2022. The managed security services market
comprises dominant players such as IBM Corp., HP, Dell SecureWorks, Cisco
Systems Inc., Symantec, AT&T, BT Group, Verizon, and others. These market
players primarily focus on the development of new features, launch of innovative
products with exceptional variations, and adoption of R&D and acquisition
as their key strategies to establish their position in the market.
What is the Reasons to Use
Managed Security Services?
Managed security administrations
offer nonstop oversight, 24 hours per day, 7 days seven days, and 365 days a
year. Dealing with big business security in-house, without the assistance of an
outsourced seller, requires an extensive interest in labor and innovation.
In spite of an expanding familiarity with the requirement for proactive safety efforts, many endeavors keep on putting off executing sound security activities until they've endured a misfortune because of an information rupture. The quantity of digital dangers is developing, and it is significant that undertakings organize IT security thus. Regardless of whether an association is inadequate in security program development or basically needs to grow their security capacities, oversaw security specialist organizations are a profitable choice on the grounds that.
Cyber-assaults develop at an amazingly quick pace, prompting one new danger after another. Without the best possible security apparatuses and assets, staying aware of advancing dangers, tending to dangers as they emerge, and recuperating from occurrences identified past the point of no return can devour considerable assets.
Most MSSPs have operations over the globe, and their emphasis on observing the danger scene implies they regularly have a particular preferred standpoint over ventures with a center business work irrelevant to security and innovation. As it were, MSSPs have some expertise in early risk location and insurance, so enrolling the administrations of a MSSP enables the endeavor to concentrate on center business exercises while leaving security worries to the specialists.
In spite of an expanding familiarity with the requirement for proactive safety efforts, many endeavors keep on putting off executing sound security activities until they've endured a misfortune because of an information rupture. The quantity of digital dangers is developing, and it is significant that undertakings organize IT security thus. Regardless of whether an association is inadequate in security program development or basically needs to grow their security capacities, oversaw security specialist organizations are a profitable choice on the grounds that.
Cyber-assaults develop at an amazingly quick pace, prompting one new danger after another. Without the best possible security apparatuses and assets, staying aware of advancing dangers, tending to dangers as they emerge, and recuperating from occurrences identified past the point of no return can devour considerable assets.
Most MSSPs have operations over the globe, and their emphasis on observing the danger scene implies they regularly have a particular preferred standpoint over ventures with a center business work irrelevant to security and innovation. As it were, MSSPs have some expertise in early risk location and insurance, so enrolling the administrations of a MSSP enables the endeavor to concentrate on center business exercises while leaving security worries to the specialists.
Let
us know more about & PDF of Managed Security Services Insights @ https://goo.gl/UijdLD
No comments:
Post a Comment