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Managed Security Services Market

Managed Security Services Market Size by Security Type (Managed SIEM, Managed IAM, MDR, Managed Firewall), Service Type (Co-managed and Fully MSS), Vertical, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2030

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12638
  • Published Date: Dec, 2021
  • Pages: 110
  • Category: Information Technology & Semiconductors
  • Format: PDF
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Global Managed Security Services market is expected to reach USD 76.29 billion by 2030, at a CAGR of 14% from 2021 to 2030. A surge in trends such as CYOD, BYOD, and WFH, stringent government regulations, sophisticated cyber attacks across companies, increased security breaches and the cost-effectiveness of implementing MSS are all likely to propel the MSS industry forward.

Market Overview:

Managed security services (MSS) are network security services that have been outsourced to a third-party service provider in the computer world. A managed security service provider is a company that provides such a service. MSSPs have their roots in Internet Service Providers from the mid-to-late 1990s. ISPs would initially offer consumers a firewall device as customer premises equipment and then maintain the customer-owned firewall over a dial-up connection for an additional fee. Managed security services are provided by third-party companies for the oversight and administration of a company's security operations. Managed security service providers (MSSPs) deliver services in-house or remotely, most commonly through the cloud. MSSPs provide a comprehensive spectrum of security services, from infrastructure setup through security management and incident response. Some managed security service providers specialize in specific areas, while others provide whole information security program outsourcing. It is a systematic way to managing an organization's security demands. The services might be performed in-house or outsourced to a company that manages the security of other companies' networks and information systems. A managed security service's responsibilities include round-the-clock monitoring and administration offirewalls and intrusion detection systems, patch management and upgrades, security assessments and audits, and emergency response.

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Market Dynamics:

Drivers:
  • Rising trend of bringing your own device (BYOD)

The surge in digital information generation and the growing trend of bringing your own device (BYOD), as well as the necessity to safeguard it, are major drivers driving the growth of the managed security services industry. Organizations are increasingly using managed security service providers as the complexity and frequency of security breaches and cyber-attacks grows. This is done to keep track of things and provide better protection.

Restraints:
  • Lack of trust

When an organization lacks in-house security expertise or has budgetary constraints, it turns to a Managed Security Service Provider(MSSP), a third-party service provider. Outsourcing security operations to a third-party service provider necessitates several factors, including the third-security, party's infrastructure's competence, round-the-clock support, up-to-date cybersecurity technology, and the overall decision to migrate to security as a service. The infrastructure of the service provider must be secure and up to date to battle the most recent attacks. Because the service provider's infrastructure may include crucial data from several firms, it is very vulnerable to repeated and complicated attacks; this might be a deterrent for businesses to trust these service providers with their data. In some circumstances, top management of organisations may be unwilling to let go of control over important infrastructure elements. Enterprises believe that if things go wrong between managed security service providers and organisations, MSSPs' entire control over system design will work against them. One of the reasons why enterprises are hesitant to hand up complete management of their system design to MSSPs is because of this.

Opportunities:

  • Increasing adoption of IoT devices and cloud technology

With the multiple benefits of cloud services, like dynamic access to data, cost-effectiveness, and reduced turnaround time for business processes, a number of SMEs and major organizations are leaning toward having complete control over their data and infrastructure in the cloud globally. For this reason, they are eager to take use of the advantages of cloud security services to improve data protection and access. MSSPs can use these services since they include unique features including security policy enforcement, numerous compliances, encryption, IAM, SIEM, and malware detection and prevention. Because of these advantages, a growing number of large corporations and small businesses are transferring their operations to the cloud to provide superior service. With the reduced cost of implementation, SMEs are becoming more interested in cloud-based security solutions, and MSSPs can take advantage of this opportunity to provide custom-based security services to companies.

Challenges:
  • Lack of skilled security expertise

The global industry is expected to be hampered by a lack of professional security knowledge and the ever-changing face of online threat. Over the forecast period, the global market is likely to be hampered by a shortage of skilled IT workers and a lack of awareness of cyberattacks among small and medium enterprises.

Segmentation Analysis:

The global managed security services market has been segmented based on security type and end-user industry and regions.

  • The security type segment is divided into managed SIEM, managed IAM, managed firewall, and MDR. During the forecast period, the managed SIEM segment is expected to grow at the fastest CAGR of 15%. Managed SIEM is a service that allows an organization to outsource the deployment, setup, and monitoring of a SIEM software solution to a third-party service provider. The third-party service provider hosts a SIEM application on its servers and monitors the organization's network for potential security threats.
  • The service type segment is divided into co-managed and fully MSS. During the forecast period, the fully MSS segment is expected to grow at the fastest CAGR of 17%.
  • The vertical segment is divided into BFSI, government, and healthcare. In 2020, the BFSI segment dominated the market, accounting for around42% of global revenue. MSS are anticipated to assist the BFSI vertical in ensuring the confidentiality of sensitive data, hence assisting in the overall security posture. The most significant benefit of MSS in the BFSI sector is 24-hour, seven-day-a-week monitoring, which allows for quick incident response and remediation in the event of a security breach. The BFSI industry is highly concerned about the security of its clients' sensitive information. As a result, firms in the BFSI field are embracing MSS services in huge numbers to improve the protection of online services against cyberattacks.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. North America region emerged as the largest market for the global managed security services market with a 34.5% share of the market revenue in 2020.

  • Because of the presence of important companies in this region and their constant advancement for various packaging technologies, North America is expected to contribute the highest market share in this industry.
  • On the other hand, over the forecast period, the Asia Pacific is anticipated to be the fastest growing region. Government entities in several APAC countries are taking proactive steps to raise cybersecurity awareness and preserve the organization's data. The Indian government, for example, established the National Critical Information Infrastructure Protection Centre (NCIIPC) to facilitate a safe and strong critical information infrastructure.

North America region Managed Security Services Market Share in 2020 - 34.5%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global managed security services industry.

ATOS, in collaboration with Intigrit, introduced a bug bounty program in September 2021. This service is aimed to provide customers with vulnerability detection and remediation services. Audit, penetration testing, platform report analysis, vulnerability classification, monitoring, remediation, and managed detection and response services will be provided by an ATOS consultant.

List of Key Market Players:

  • Accenture
  • AT&T Inc.
  • Atos SE
  • BT Group plc
  • Cipher Security
  • DXC Technology Company
  • Infosys Limited
  • International Business Machines Corporation
  • Kudelski Security
  • Lumen Technologies
  • NTT
  • Nuspire
  • SecureWorks, Inc.
  • The Herjavec Group
  • Trustwave Holdings, Inc.
  • Verizon Communications Inc.
  • Wipro Limited

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)

Report Description:

  • Global Managed Security Services Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2030 are the forecast years. The global managed security services market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global managed security services market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East &Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of managed security services based onsecurity type, service type, vertical and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global managed security services market.This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global managed security services market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market related i.e., global managed security services market) is covered to comprehend the adoption rate and evaluate the market size. 

Frequesntly Asked Questions

As per The Brainy Insights, the size of the managed security services market was valued at USD 20.58 Billion in 2020 to USD 76.29 Billion by 2030.

Global Managed Security Services market is growing at a CAGR of 14% during the forecast period 2021-2030.

The global managed security services market has been segmented based on security type, service type, vertical, and regions.

North America region emerged as the largest market for the Managed Security Services.

The market's growth will be influenced by the rising trend of bringing your own device (BYOD).

Lack of trust could hamper the market growth.

Increasing adoption of IoT devices and cloud technology will provide huge opportunities to the market.

Key players areAccenture, AT&T Inc., Atos SE, BT Group plc, Cipher Security, DXC Technology Company, Infosys Limited, International Business Machines Corporation, Kudelski Security, Lumen Technologies, NTT, Nuspire, SecureWorks, Inc.

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  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis BySecurity Type
          4.3.2. Market Attractiveness Analysis ByService Type
          4.3.3. Market Attractiveness Analysis ByVertical
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Rising trend of bringing your own device (BYOD)
    5.3. Restraints
          5.3.1. Lack of trust
    5.4. Opportunities
          5.4.1. Increasing adoption of IoT devices and cloud technology
    5.5. Challenges
          5.5.1. Lack of skilled security expertise

6. Global Managed Security Services Market Analysis and Forecast, By Security Type
    6.1. Segment Overview
    6.2. Managed SIEM
    6.3. Managed IAM
    6.4. MDR
    6.5. Managed Firewall

7. Global Managed Security Services Market Analysis and Forecast, By Service Type
    7.1. Segment Overview
    7.2. Co-managed
    7.3. Fully MSS

8. Global Managed Security Services Market Analysis and Forecast, By Vertical
    8.1. Segment Overview
    8.2. BFSI
    8.3. Government
    8.4. Healthcare

9. Global Managed Security Services MarketAnalysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Managed Security Services Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Managed Security Services Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Accenture
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Component Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. AT&T Inc.
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Component Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Atos SE
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Component Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. BT Group plc
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Component Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Cipher Security
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Component Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. DXC Technology Company
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Component Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Infosys Limited
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Component Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. International Business Machines Corporation
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Component Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Kudelski Security
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Component Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Lumen Technologies
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Component Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. NTT
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Component Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Nuspire
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Component Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
    11.13. SecureWorks, Inc.
          11.13.1. Business Overview
          11.13.2. Company Snapshot
          11.13.3. Company Market Share Analysis
          11.13.4. Company Component Portfolio
          11.13.5. Recent Developments
          11.13.6. SWOT Analysis
    11.14. The Herjavec Group
          11.14.1. Business Overview
          11.14.2. Company Snapshot
          11.14.3. Company Market Share Analysis
          11.14.4. Company Component Portfolio
          11.14.5. Recent Developments
          11.14.6. SWOT Analysis
    11.15. Trustwave Holdings, Inc.
          11.15.1. Business Overview
          11.15.2. Company Snapshot
          11.15.3. Company Market Share Analysis
          11.15.4. Company Component Portfolio
          11.15.5. Recent Developments
          11.15.6. SWOT Analysis
    11.16. Verizon Communications Inc.
          11.16.1. Business Overview
          11.16.2. Company Snapshot
          11.16.3. Company Market Share Analysis
          11.16.4. Company Component Portfolio
          11.16.5. Recent Developments
          11.16.6. SWOT Analysis
    11.17. Wipro Limited
          11.17.1. Business Overview
          11.17.2. Company Snapshot
          11.17.3. Company Market Share Analysis
          11.17.4. Company Component Portfolio
          11.17.5. Recent Developments
          11.17.6. SWOT Analysis

List of Table

1. Global Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

2. Global Managed SIEMManaged Security ServicesMarket, By Region, 2018-2030 (USD Billion) 

3. Global MDRManaged Security ServicesMarket, By Region, 2018-2030 (USD Billion) 

4. Global Managed FirewallManaged Security Services Market, By Region, 2018-2030 (USD Billion) 

5. Global Managed IAMManaged Security Services Market, By Region, 2018-2030 (USD Billion) 

6. Global Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

7. Global Co-managedManaged Security ServicesMarket, By Region, 2018-2030 (USD Billion) 

8. Global Fully MSSManaged Security ServicesMarket, By Region, 2018-2030 (USD Billion) 

9. Global Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

10. Global BFSIManaged Security Services Market, By Region, 2018-2030 (USD Billion) 

11. Global GovernmentManaged Security Services Market, By Region, 2018-2030 (USD Billion) 

12. Global HealthcareManaged Security Services Market, By Region, 2018-2030 (USD Billion) 

13. Global Managed Security Services Market, By Region, 2018-2030 (USD Billion) 

14. North America Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

15. North America Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

16. North America Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

17. U.S. Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

18. U.S. Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

19. U.S. Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

20. Canada Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

21. Canada Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

22. Canada Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

23. Mexico Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

24. Mexico Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

25. Mexico Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

26. Europe Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

27. Europe Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

28. Europe Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

29. Germany Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

30. Germany Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

31. Germany Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

32. France Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

33. France Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

34. France Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

35. U.K. Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

36. U.K. Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

37. U.K. Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

38. Italy Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

39. Italy Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

40. Italy Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

41. Spain Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

42. Spain Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

43. Spain Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

44. Asia Pacific Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

45. Asia Pacific Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

46. Asia Pacific Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

47. Japan Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

48. Japan Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

49. Japan Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

50. China Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

51. China Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

52. China Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

53. India Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

54. India Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

55. India Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

56. South America Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

57. South America Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

58. South America Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

59. Brazil Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

60. Brazil Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

61. Brazil Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

62. Middle East and Africa Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

63. Middle East and Africa Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

64. Middle East and Africa Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

65. UAE Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

66. UAE Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

67. UAE Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

68. South Africa Managed Security Services Market, By Security Type, 2018-2030 (USD Billion) 

69. South Africa Managed Security Services Market, By Service Type, 2018-2030 (USD Billion) 

70. South Africa Managed Security Services Market, By Vertical, 2018-2030 (USD Billion) 

List of Figures 

1. Global Managed Security Services Market Segmentation

2. Managed Security Services Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Managed Security Services Market Attractiveness Analysis BySecurity Type

9. Global Managed Security Services Market Attractiveness Analysis ByService Type

10. Global Managed Security Services Market Attractiveness Analysis ByVertical

11. Global Managed Security Services Market Attractiveness Analysis By Region

12. Global Managed Security Services Market: Dynamics

13. Global Managed Security Services Market Share by Security Type (2020 & 2030)

14. Global Managed Security Services Market Share by Service Type (2020 & 2030)

15. Global Managed Security Services Market Share by Vertical (2020 & 2030)

16. Global Managed Security Services Market Share by Regions (2020 & 2030)

17. Global Managed Security Services Market Share by Company (2020)

This study forecasts revenue at global, regional, and country levels from 2018 to 2030. The Brainy Insights has segmented the global managed security servicesmarket based on below mentioned segments:

Global Managed Security Services Market bySecurityType:

  • Managed SIEM
  • Managed IAM
  • MDR
  • Managed Firewall

Global Managed Security Services Market byService Type:

  • Co-managed
  • Fully MSS

Global Managed Security Services Market by Vertical:

  • BFSI
  • Government
  • Healthcare

Global Managed Security Services Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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