The managed security services market is expected to reach at US$ 50.07 billion by 2028; registering at a CAGR of 12.9% from 2022 to 2028, according to a new research study conducted by The Insight Partners. Information and data have become the two most important pillars for any business in the current times. Security of the same has also become the topmost priority for enterprises. This is increasing the demand for solutions such as threat management, vulnerability management, log management, security information & event management (SIEM), and compliance management. Intrusion detection systems (IDS) and intrusion prevention systems are two of the most important tools in information security. For the effective layer of security, these two devices need to be tuned in to the network they are monitoring.

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Many of the world's largest banks are based in North America, which is a major driver pushing the market for Managed Security Servicess. To make the transition from legacy systems to digital, digital banking suppliers in the region are offering software as a service. Temenos, for instance, enables new digital banks in the US to go live in 90 days with the most functionally rich and technologically advanced front-to-back SaaS digital banking offering available. Many firms are using digital banking systems due to the increased acceptance of blockchain technology, which is strengthening security, particularly in the BSFI industry. This aspect is propelling the region’s Managed Security Services market forward. Blockchain-based cloud Managed Security Servicess are being developed by a number of companies.

The Innovative Key Players Are :

• AT&T Inc.
• IBM Corporation
• Dell SecureWorks Inc.
• Trustwave Holdings
• Verizon Communications
• Symantec Corporation
• Hewlett Packard Enterprise Development LP
• NTT Security
• CenturyLink, Inc.
• BT Group plc

The managed security services landscape is growing and evolving with innovative services to secure the IT infrastructure of organizations efficiently and proficiently. Due to the lack of a skilled workforce, many organizations are not capable enough to fully protect their IT infrastructure. Moreover, because of the increased sophistication of cyber-attacks, it is becoming very challenging for organizations to rely on and invest in their in-house security processes. Hence, many organizations are migrating from their in-house security processes to third-party MSSPs. MSSPs offer complete managed security services to organizations with round-the-clock monitoring of their IT infrastructure and protect them from potential threats and cyber-attacks. Present-day security processes demand a balance of device management, event monitoring, and incident response, as well as governance, risk, and compliance functions. Increasing number of cyber-attacks and ever-growing complex risk and compliance requirements have led to the demand for third-party specialized security service providers.

Answers that the report acknowledges:

• Market size and growth rate during forecast period.
• Key factors driving the Managed Security Services Market.
• Key market trends cracking up the growth of the Managed Security Services Market.
• Challenges to market growth.
• Key vendors of Managed Security Services Market.
• Detailed SWOT analysis.
• Opportunities and threats faces by the existing vendors in Global Managed Security Services Market.
• Trending factors influencing the market in the geographical regions.
• Strategic initiatives focusing the leading vendors.
• PEST analysis of the market in the five major regions.

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