Explore more Categories
Artificial Intelligence involves the science and engineering of developing intelligent machines
The manufacturing world is at a cusp of a new revolution that will redefine conventional business models
IoT will have a major impact on businesses and consumers in the future
The world is creating 2.5 exabytes of data daily
Our research seeks to connect-the-dots across multiple trends
Personal Robots are Set to Be a $19 Billion Market
Strategic Analysis of BREXIT and its Implications to Industries, Economies and Societies
Time for a Digital Revolution in the Women’s Health Market
iFrost is a digital platform for interactive and dynamic reporting of data.
The TOEs are a great source of information which gives corporates critical information on companies to action for their strategic investments either as an open source platform or to collaborate and to develop successful products
Robust Market Growth Gives Way to Moderation
save 15 %
* Required Fields
Pay by invoice
Growth and diversity are prominently on display in the global managed & professional security services market. In terms of revenue, the market grew a significant 18.3% from 2017 to 2018. While all providers Frost & Sullivan evaluated experienced material growth, growth varied. For example, the Top 5 providers, accounting for 42% of the global market, grew 27.6% year-over-year. Massive size, global reach, consultative strength, industry expertise, and established relationships with large enterprises and governmental agencies are all contributors. The Top 5 global providers are: Accenture, Deloitte, EY, IBM, and PwC.In terms of broad service categories, professional security services represent 61% of the global market. Large enterprise clients (10,000 or more employees) represent the largest customer segment, again owing to their higher propensity for professional security services.Although North America continues to be the largest regional market, the other regions grew faster. While the largest global providers are prominent in all regions, select providers with regional footprints and greater concentration on managed security services are among five largest providers in the regions of Europe, Middle East, and Africa; Asia Pacific; and Latin America, inclusive of Mexico.Within professional security services, assessment and advisory offerings continue their upswing. In managed security services, detection & response is growing at the fastest pace and in strategic importance down market (i.e., smaller sized clients).The fundamental drivers of market demand remain strong throughout the forecast period with double-digit, year-over-year growth expected in the near term. The perennial triad of advancing cyber threats, expanding surface areas, and talent shortages in security is the strongest demand driver for security services. Second is the overdue need organizations are experiencing in turning a new and better chapter in their security practices. An outsider with experience and broad perspectives in serving multiple clients across several verticals is well positioned to assist organizations in modernizing and strengthening their security practices. Despite robust market demand, providers must evolve in this competitive market. Similar to their clients’ digital innovation, their platform of services and how they offer them will be required to change in order to remain competitively vibrant in this market. In that regard, Frost & Sullivan has noted increasing instances of managed security services being repackaged as customer self-service offerings and providers that have historically concentrated on professional security services strategically investigating managed security services.Related to vibrancy is another attribute of this market: consolidation. The top 5 providers, whether measured globally or in each region, are growing faster and gaining a greater share of the market. This is evident in the most recent revenue growth from 2017 to 2018, and Frost & Sullivan expects this trend to continue albeit highly dependent on the large consulting firms uncovering encore professional security service engagements with their principal client bases.Author: Michael Suby
Increasingly Sophisticated Threat Landscape Drives the Uptake of Managed Security Services in APAC
Transformative Mega Trends Drive the Global Secure SD-WAN Market, Forecast to 2024
Disruptive Technologies will Drive the Growth of the Indian Endpoint Security Market
Frost Radar™: Global Breach and Attack Simulation Market, 2020
Frost Radar™: Global Holistic Web Protection Market, 2020
Global Breach and Attack Simulation Market, Forecast to 2025
Asia-Pacific Distributed Denial-of-Service Protection Solutions Market, Forecast to 2024
Convergence of Solutions into Holistic Web Protection Bundles Transforming the Asia-Pacific Web Application Firewall (WAF) Solutions Market, Forecast to 2024
Frost Radar™: Greater China Web Application Firewall Solutions Market, 2020
Frost Radar™: Greater China Distributed Denial-of-Service Protection Solutions Market, 2020
virtual reality market
smart grid market
plastic recycling market
electric vehicle market analysis
food waste market
functional beverage market
activated carbon market
Don't have an account? Create One!
Enter your Email Address here to receive a link to change password.
If you are an existing frost.com user, please register using the same email for seamless access
Already have an account? Login!
Use your Linkedin account to login or register within our store.You're just one click away.