Market Forecast by Countries (United States, Canada), By Type (Unified threat management, DDoS, Managed SIEM, Managed endpoint threat detection, Managed two factor authentication, Compliance management, Vulnerability management, Others), By Deployment (Cloud-based, On-premise), By Organization (Small and medium enterprises, Large enterprises), By Applications (BFSI, Government/defense, Healthcare, Manufacturing, Telecom & IT, Retail, Others) And Competitive Landscape
Product Code: ETC059312 | Publication Date: May 2021 | Updated Date: Sep 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
Report Name | North America Managed Security Services Market |
Forecast period | 2024-2030 |
CAGR | 9.1% |
Growing Sector | Cybersecurity |
The North America Managed Security Services Market report provides a comprehensive evaluation by types, deployment models, organization sizes, and application sectors. This detailed report offers stakeholders valuable insights into current and projected market trends, main drivers, high-growth segments, and key challenges, aiding in the formulation of strategic decisions and aligning market strategies with evolving industry dynamics.
The Managed Security Services (MSS) marketplace in North America is experiencing a strong expansion driven through the escalating chance landscape and the growing complexity of cybersecurity necessities. Key traits include the adoption of AI and system learning for hazard detection, the transition to cloud-based totally security answers, and the growing preference for complete managed protection services. The market is challenged with the aid of issues inclusive of preserving compliance with various regulatory requirements and the shortage of professional cybersecurity professionals. Despite these challenges, the demand for superior security solutions ensures persevered market resilience and growth.
According to 6Wresearch, The North America Managed Security Services Market size is expected to grow at a significant CAGR of 9.1% during the forecast period 2024-2030. The ManagThe increase of the North America Managed Security Services Market is inspired by using numerous factors, which include the growing frequency and class of cyber attacks and the increasing regulatory requirements mandating more desirable security features. Technological advancements, which includes AI and gadget mastering, enhance the performance and effectiveness of danger detection and reaction, bolstering the marketplace. Additionally, the shift closer to remote work environments and cloud adoption necessitates strong managed safety solutions to defend sensitive records and operations.
The North America Managed Security Services Market encounters challenges which include the regulatory compliance complexity throughout numerous jurisdictions and sectors. Another good sized hurdle is the shortage of skilled cybersecurity specialists, which could avoid the implementation and management of sophisticated safety solutions. Additionally, the excessive charges related to advanced security technology and services may be prohibitive for small and medium-sized businesses (SMEs), proscribing their adoption and integration within present infrastructure.
Leading players in the North America Managed Security Services Market include IBM, SecureWorks, and AT&T Cybersecurity. These companies play a critical role in market growth by offering innovative and comprehensive security solutions. Their emphasis on research, strategic collaborations, and a strong focus on evolving client needs ensures their leadership and continuous contribution to market expansion.
Government initiatives such as the “Cybersecurity Enhancement Act” and the “National Cyber Strategy” bolster the growth of the managed security services market. These policies promote the adoption of robust cybersecurity measures and mandate compliance with stringent security standards. Government funding and support for cybersecurity research and the development of workforce skills also contribute significantly to market expansion, ensuring a resilient and secure digital economy.
The destiny of the North America Managed Security Services Market seems promising with trends consisting of the integration of AI and device studying for superior danger detection, automated incident reaction, and non-stop improvements in cybersecurity measures. The boom in hybrid cloud deployments and the extra reliance on faraway paintings environments will further power call for. Addressing regulatory compliance and group of workers ability gaps could be critical for maintaining growth and making sure the security of virtual infrastructures.
According to Ravi Bhandari, Research Head, 6Wresearch, the United States is the fastest-growing country within the North America Managed Security Services market. This rapid growth is driven by the increasing frequency of cyber threats and the strong emphasis on regulatory compliance and data protection across various industries. The robust demand for advanced security solutions to safeguard sensitive information and critical infrastructure further propels the market's expansion in the United States.
Within the types of managed security services, Unified Threat Management (UTM) is experiencing the fastest growth. UTM solutions consolidate multiple security functionalities such as firewall, intrusion detection, antivirus, and content filtering into a single platform, providing comprehensive protection and simplifying management for organizations. The convenience and effectiveness of UTM in addressing diverse security challenges make it an attractive choice for businesses striving to enhance their cybersecurity posture.
In terms of deployment types, Cloud-Based Managed Security Services are witnessing robust growth in the North America market. Cloud-based solutions offer scalability, cost-effectiveness, and ease of deployment, making them particularly appealing to businesses of all sizes. The growing trend of remote work and the need for flexible security solutions that can be quickly adapted to changing threats contribute to the increased adoption of cloud-based managed security services.
Among organizational segments, Small And Medium Enterprises (SMEs) are the fastest-growing in the North America Managed Security Services market. SMEs are increasingly recognizing the importance of robust cybersecurity measures to protect their operations and customer data. Managed security services provide SMEs with access to advanced security technologies and expertise without the need for substantial capital investments, enabling them to enhance their security posture while maintaining cost efficiency.
Within the applications segment, the Healthcare sector stands out as the fastest-growing in the North America Managed Security Services market. The critical need to protect sensitive patient information, comply with stringent regulatory requirements, and safeguard against frequent cyberattacks drives the demand for managed security services in the healthcare industry. As healthcare organizations continue to digitize their operations and expand their use of connected medical devices, the importance of robust security measures becomes increasingly paramount.
The report offers a comprehensive study of the following market segments
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 North America Managed Security Services Market Overview |
3.1 North America Regional Macro Economic Indicators |
3.2 North America Managed Security Services Market Revenues & Volume, 2020 & 2030F |
3.3 North America Managed Security Services Market - Industry Life Cycle |
3.4 North America Managed Security Services Market - Porter's Five Forces |
3.5 North America Managed Security Services Market Revenues & Volume Share, By Countries, 2020 & 2030F |
3.6 North America Managed Security Services Market Revenues & Volume Share, By Type, 2020 & 2030F |
3.7 North America Managed Security Services Market Revenues & Volume Share, By Deployment, 2020 & 2030F |
3.8 North America Managed Security Services Market Revenues & Volume Share, By Organization, 2020 & 2030F |
3.9 North America Managed Security Services Market Revenues & Volume Share, By Applications, 2020 & 2030F |
4 North America Managed Security Services Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 North America Managed Security Services Market Trends |
6 North America Managed Security Services Market, 2020 - 2030 |
6.1 North America Managed Security Services Market, Revenues & Volume, By Type, 2020 - 2030 |
6.2 North America Managed Security Services Market, Revenues & Volume, By Deployment, 2020 - 2030 |
6.3 North America Managed Security Services Market, Revenues & Volume, By Organization, 2020 - 2030 |
6.4 North America Managed Security Services Market, Revenues & Volume, By Applications, 2020 - 2030 |
7 United States Managed Security Services Market, 2020 - 2030 |
7.1 United States Managed Security Services Market, Revenues & Volume, By Type, 2020 - 2030 |
7.2 United States Managed Security Services Market, Revenues & Volume, By Deployment, 2020 - 2030 |
7.3 United States Managed Security Services Market, Revenues & Volume, By Organization, 2020 - 2030 |
7.4 United States Managed Security Services Market, Revenues & Volume, By Applications, 2020 - 2030 |
8 Canada Managed Security Services Market, 2020 - 2030 |
8.1 Canada Managed Security Services Market, Revenues & Volume, By Type, 2020 - 2030 |
8.2 Canada Managed Security Services Market, Revenues & Volume, By Deployment, 2020 - 2030 |
8.3 Canada Managed Security Services Market, Revenues & Volume, By Organization, 2020 - 2030 |
8.4 Canada Managed Security Services Market, Revenues & Volume, By Applications, 2020 - 2030 |
9 North America Managed Security Services Market Key Performance Indicators |
10 North America Managed Security Services Market - Opportunity Assessment |
10.1 North America Managed Security Services Market Opportunity Assessment, By Countries, 2020 & 2030F |
10.2 North America Managed Security Services Market Opportunity Assessment, By Type, 2020 & 2030F |
10.3 North America Managed Security Services Market Opportunity Assessment, By Deployment, 2020 & 2030F |
10.4 North America Managed Security Services Market Opportunity Assessment, By Organization, 2020 & 2030F |
10.5 North America Managed Security Services Market Opportunity Assessment, By Applications, 2020 & 2030F |
11 North America Managed Security Services Market - Competitive Landscape |
11.1 North America Managed Security Services Market Revenue Share, By Companies, 2023 |
11.2 North America Managed Security Services Market Competitive Benchmarking, By Operating and Technical Parameters |
12 Company Profiles |
13 Recommendations |
14 Disclaimer |