Newark, April 15, 2022 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global managed security services market is expected to grow from USD 20.58 Billion in 2020 to USD 76.29 Billion by 2030, at a CAGR of 14% during the forecast period 2021-2030.
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Managed Security Services are a type of network security setting that is mostly provided by service providers. Managed security services (MSS) are systematic techniques to manage an organization’s security requirements. 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 of intrusion detection systems and firewalls, patch management and upgrades, security assessments and audits, and emergency response. A managed security service’s responsibilities include round-the-clock monitoring and administration of intrusion detection systems and firewalls, patch management and upgrades, security assessments and audits, and emergency response.
The managed security services market is primarily driven by rising demand for MSS because of stringent government policies and the necessity to protect various companies from cyber-attacks. Furthermore, the lower implementation costs of these MSS will boost market growth in the coming years.
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Key players operating in the global managed security services market are 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. and Wipro Limited among others. To enhance their market position in the global managed security services market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
• Accenture acquired Openminded, a cybersecurity services company, …