Managed Security Services Market Could Be Worth Over $24B by 2019
Transparency Market Research said cloud-based managed security services are part of an emerging market that could grow over the next few years.
The research firm’s Managed Security Services Market (CPE, Cloud/Hosted and Hybrid) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013–2019 report showed the managed security services market could be worth more than $24 billion by 2019, up from roughly $9 billion in 2012.
Researchers also predicted the managed security services market will expand at a compound annual growth rate (CAGR) of 15.4 percent between 2013 and 2019.
What other takeaways are there for MSPs in this report? Other findings included the following:
- Industry verticals such as banking and financial services and insurance (BFSI), government and utilities, and telecom and IT are the key sectors that could drive market demand for managed security services over the next several years.
- Network security, confidentiality and compliance services are three of the segments that could help the managed security services market grow between 2013 and 2019.
- Researchers said they expect Asia to record the fastest managed security services market growth, with demand primarily from small and medium-sized businesses (SMBs).
What does the future hold for managed services?
In addition to Transparency Market Research’s report, here are several research firms’ predictions about the future of various managed services:
- International Data Corp. (IDC) — IDC‘s Cloud-Managed WiFi Set to Grow to $2.5 Billion by 2018 report showed worldwide cloud-managed infrastructure and managed services revenue will reach $653 million in 2014 and $2.5 billion by 2018.
- MarketsandMarkets — The MarketsandMarkets report Managed Services Market [Managed Data Center, Managed Network, Managed Information, Managed Mobility, Managed Infrastructure, Managed Communications, Managed Security] revealed the managed services market will grow from roughly $143 billion in 2013 to $256 billion in 2018.
- Research and Markets — The managed print services market could grow at a CAGR of nearly 11 percent between 2012 and 2016, according to Research and Markets‘ Global Managed Print Services (MPS) Market Report.