Cyber Security Managed Services Global Market Size is Expected to Reach $23.21 Billion at a CAGR of 10.7% By 2028 | Hitachi Ltd., Accenture plc, Capgemini SE, Fortinet Inc., McAfee LLC

The cyber security managed services global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Cyber Security Managed Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –
The cyber security managed services market size has grown rapidly in recent years. It will grow from $13.80 billion in 2023 to $15.27 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to the rise in cyber threats, rising digital transformation initiatives, demand for security-related managed services, increasing adoption of managed risk and compliance services, and increasing adoption of cloud computing.

The cyber security managed services market size is expected to see rapid growth in the next few years. It will grow to $23.21 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to a focus on incident response and resilience, increased emphasis on compliance and risk management, growth of managed security, focus on data privacy and protection, and surging demand for digital privacy systems. Major trends in the forecast period include zero trust security frameworks, advanced technologies, advanced threat detection technologies, integration of artificial intelligence (AI) and machine learning (ML), and increasing partnerships.

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Scope Of Cyber Security Managed Services Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Cyber Security Managed Services Market Overview

Market Drivers –
The cyber security managed services market size has grown rapidly in recent years. It will grow from $13.80 billion in 2023 to $15.27 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to the rise in cyber threats, rising digital transformation initiatives, demand for security-related managed services, increasing adoption of managed risk and compliance services, and increasing adoption of cloud computing.

Market Trends –
Major companies operating in the cyber security managed services market are focused on developing innovative technologies, such as holistic digital protection, to enhance their offerings and attract a larger customer base. Holistic digital protection is a comprehensive approach to safeguarding an organization’s digital assets, encompassing various security measures, practices, and technologies. For instance, in February 2024, Astreya, a US-based IT solutions provider, launched its Cybersecurity Managed Services. Astreya’s cybersecurity managed services offer a comprehensive suite of solutions, including identity management, endpoint protection, and risk management. These services are designed to seamlessly integrate with existing infrastructures, providing robust security layers and proactive defense mechanisms. This new service integrates cutting-edge technologies with expert-driven strategies to ensure strong protection against various cyber threats.

The cyber security managed services market covered in this report is segmented –
1) By Service: Managed Detection And Response (MDR), Incident Management, Managed Vulnerability, Identity And Access Solution, Other Services
2) By Security Type: Network Security, Endpoint Security, Application Security, Other Security Types
3) By Enterprise Type: Small And Medium Size Enterprise, Large Enterprise
4) By Industry: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Telecommunications, Retail, Healthcare, Government, Manufacturing, Travel And Transportation, Energy And Utilities, Other Industries

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Regional Insights –
North America was the largest region in the cyber security managed services market in 2023. The regions covered in the cyber security managed services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –
Major companies operating in the cyber security managed services market are focused on developing innovative technologies, such as holistic digital protection, to enhance their offerings and attract a larger customer base. Holistic digital protection is a comprehensive approach to safeguarding an organization’s digital assets, encompassing various security measures, practices, and technologies. For instance, in February 2024, Astreya, a US-based IT solutions provider, launched its Cybersecurity Managed Services. Astreya’s cybersecurity managed services offer a comprehensive suite of solutions, including identity management, endpoint protection, and risk management. These services are designed to seamlessly integrate with existing infrastructures, providing robust security layers and proactive defense mechanisms. This new service integrates cutting-edge technologies with expert-driven strategies to ensure strong protection against various cyber threats.

Table of Contents
1. Executive Summary