Global Managed Security Services Market is Expected to Reach $29.9billion by 2020 - Allied Market Research
According to a new report by Allied Market Research entitled, "Global Managed Security Services Market -Deployment Mode, Organization Size, Application, Verticals, Trends, Opportunities, Growth, and Forecast, 2013-2020", the global managed security services market is expected to reach $29.9billion by 2020, registering a CAGR of 15.8% during 2014-2020. The cloud-based managed security services (MSS) deployment model market would grow faster than the market for remotely monitored customer premises equipment MSS by 2020. Small- and medium-sized businesses would lead the adoption of cloud-based MSS due to cost constraints. North American region would continue to dominate the global market followed by Europe region in terms of market size by value.
Executives consider incidents of data thefts and cybercrimes as the greatest threats to their organization's reputation. Lack of capital and skilled IT resources needed to manage the data security are the major hindrances in protecting the information. Managed security services have emerged as lucrative option for delivering security asset monitoring and management, threat intelligence research, detection and remediation, and risk and compliance management solutions on shared basis to multiple clients. The cost-effectiveness and effective data security have been gaining traction for the managed security market.
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